Tesla Model 3 Reservations Generate Close to $9 Billion in Potential Sales
Tesla Motors recently unveiled the long-awaited Model 3, and by nearly all accounts the reveal was a success: Tesla CEO Elon Musk tweeted On April 2nd (see embedded Tweet below) that his company had received more than 253,000 reservations for the $35,000 Model 3, which is slated to hit Tesla showrooms in late 2017.
Given that each Model 3 reservation requires a $1,000 payment, that translates into $253 million in reservation revenue alone. Multiply 253,000 reservations by the minimum expected retail price of $35,000 per vehicle, and that translates into a whopping — yet still conservative — estimate of $8.855 billion in sales for Model 3 reservations alone.
253k as of 7am this morning
— Elon Musk (@elonmusk) April 2, 2016
We’ll post more about the Tesla Model 3 in the days and weeks to come, but for now you can watch the March 31st, 2016 Model 3 introduction in its entirety below.