The company has hit its weekly production target but has only fulfilled six percent of reservations. After hitting a critical Model 3 production milestone of 5,000 units in a week, Tesla has shed more light on its output forecast and reservation backlog.Model 3 production nearly tripled from Q1 to Q2, totaling 28,578 units from April through June. The company has now delivered 28,386 Model 3 vehicles to date, representing just six percent of reservations.It would take more than 18 months to fulfill the backlog of 420,000 reservations at the current 5,000/wk rate. Tesla plans to continue ramping up Model 3 output volume, however, with a forecasted increase to 6,000/wk by late next month."When we start to provide customers an opportunity to see and test drive the car at their local store, we expect that our orders will grow faster than our production rate," the company wrote in a press release for investors.Despite reaching the 5,000-unit target, Tesla is still under pressure to … [Read more...] about Tesla Model 3 reservation backlog stands at 420,000 units
Tesla model 3 reservations
Tesla Model 3 reservation holders have been asked to pony up an extra $2,500 in order to turn their “order” into a “reservation.” According to CNBC, those Tesla buyers who paid Tesla the fully refundable $1,000 deposit to reserve a Model 3 order can now put up another $2,500 and place the order for their vehicle. Customers have the ability to cancel their order three days after putting the $2,500 down, but after that, the $3,500 they paid for the vehicle thus far will belong to Tesla. The $3,500, (the $1,000 depsoit plus the $2,500 order confirmation), contributes toward the total cost of the Model 3, of course. This is in line with how Tesla has conducted its “pre-sales” previously. Buyers who choose to put down another $2,500 are being told their vehicle will arrive within 2-4 months, but have not been given a set delivery date. SEE ALSO: Tesla Pickup Will Have Dual Motor AWD as Standard Because Tesla has not yet produced the $35,000 … [Read more...] about Tesla Model 3 Reservation Holders Asked to Put Up $2,500 to Place Order
Tesla Model 3 all-wheel drive Performance rolls off a new assembly line in a temporary structureEnlarge PhotoTesla Model 3 reservation holders who have been patiently waiting for their turn to order their cars just got a chance to move up in line. The company invited all reservation holders in the United States and Canada to place their orders, according to a Bloomberg report. To place their orders, reservation holders will have to place an additional $2,500 deposit with the company, just as previous reservation holders have after they became eligible to configure their cars. DON'T MISS: Tesla Model Y coming in 2020; Roadster and Semi still on the way, says Musk The move has dual financial benefits for Tesla. First, it could give the company an influx of cash when it is sorely needed. The most recent reports estimate that Tesla still has about 400,000 reservation holders, each of whom has already put down $1,000 to hold their place in line to make an order. Tesla had been opening up … [Read more...] about Tesla Model 3 orders open to all US, Canada buyers; production still short of goals
Tesla may have the most fiercely loyal fan base in the automotive world but even this can’t help the company in the face of ongoing Model 3 production delays. When the order books for the entry-level model opened in April 2016, Tesla received hundreds of thousands of deposits within a matter of weeks. However, data published by Second Measure asserts that as of the end of April, 23 per cent of all Model 3 deposits in the United States had been recalled. Figures reveal that 18 per cent of all Model 3 refunds happened in April, the same month when Elon Musk said the sedan would be delayed six to nine months. Of course, not all the cancellations would be because of the delays as the financial positions of many would-be customers could have also changed in the past 24 months. Nevertheless, the data reveals that at least some customers are growing tired of waiting. Tesla still has over 400,000 orders to fulfill. Unsurprisingly, Tesla claims that the figures published by Second Measure … [Read more...] about Nearly A Quarter Of All Tesla Model 3 Reservations Cancelled In U.S.
Tesla Model 3 with BMW i3 driver Tom Moloughney, Dec 2017 [photo: Tom Moloughney]Enlarge PhotoGetting an opportunity to road test and review a Tesla Model 3 electric car has thus far proved a very difficult task. Since the Model 3 launched in July, Tesla has only been delivering them to employees, friends of the company, and a handful of prior Tesla owners—and most have been eerily silent about their cars. Though it’s been rumored that those who take delivery must agree not to post on social media about their cars, or give them to journalists to review, the company has denied it. DON'T MISS: Tesla Model 3 video review compares lower-priced electric car to Model S But this month has seen more and more and social-media postings by new Model 3 owners. So, when I was offered the opportunity to spend some time behind the wheel of a recently-delivered Model 3, I didn’t hesitate to accept the generous offer. I’m a first-day Model 3 reservation holder (the Tesla … [Read more...] about Tesla Model 3: impressions of a BMW i3 driver (and reservation holder)