reservation Stories June 7, 2016

tesla model 3

Tesla confirmed having received over 400,000 Model 3 reservations since its unveiling in March 2016, but after adjusting for a few cancellations and a bunch of pre-orders removed under suspicions that they were duplicates, the automaker updated the number last month to 373,000 Model 3 reservations.

The interest is higher than Tesla or almost anyone else expected, which is why the company updated its production ramp up plans to 500,000 vehicles in 2018 (Model S, X and 3 combined) instead of in 2020, but even then, CEO Elon Musk said that someone would need to place a reservation soon in order to get a Model 3 by the end of 2018 – implying that it is virtually sold out from its expected launch in Q4 2017 to the end of 2018.

Also, in the US, people hoping to reap the full benefit of the $7500 Federal tax credit will want to get theirs early because the credit drops in half once Tesla sells 200,000 cars of any type.

It makes your place in the Model 3 reservation queue especially important. So far Tesla has been only issuing non-sequential reservation numbers which don’t mean anything as to where you are in line and the company said that the Model 3 will ship (or more precisely will be available for configuration) based on when you pre-ordered it, but now we might have a way for you to have a better idea of where you stand in the queue. expand full story

reservation Stories April 29, 2016

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The impact of the Model 3 is being felt in the automotive industry long before it actually hits the market in about 18 months. Since the reveal last month, GM has hinted that the range of the upcoming Bolt will be closer to Tesla’s, Ford announced that it is developing a vehicle to compete with the Model 3 and Fiat-Chrysler might even copy Tesla’s platform.

During his recent visit to Norway, Tesla CEO Elon Musk said that he was surprised by the number of reservations the company received for the $35,000 all-electric sedan and referred to the event as a “wake up call” for the industry. expand full story

reservation Stories April 22, 2016

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There’s no denying that the Model 3 is already having an important impact on the auto industry even 18 months before it is set to enter production. The staggering number of reservations it received is sending a clear message to the industry that there’s demand for a compelling long-range electric car in the mid-luxury market.

Apparently, Nissan thinks that the LEAF fits the bill. Don’t get me wrong, the LEAF is an interesting car, but it is also the same price as the Model 3, clearly not a mid-luxury vehicle and the current version shouldn’t be considered “long-range”.

Nonetheless, Nissan just launched a new national ad campaign with a clear goal to try to convince some of the close to 400,000 Model 3 reservation holders to buy LEAFs instead. expand full story

reservation Stories April 7, 2016

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Tesla confirmed having received more than 325,000 Model 3 reservations a week after opening the process to the public. The automaker claims that it corresponds to about $14 billion in implied future sales.

The company is calculating “implied future sales” on an estimated average sale price of $42,000 after options and by assuming that everyone who placed a deposit will convert it to an order, which adds up to $13.6 billion. expand full story

model 3 unveil 1

In an email sent out last night (see below), Tesla confirmed that following the overwhelming number of Model 3 reservations it received, the company is currently “increasing its production plans to minimize the wait for Model 3” – something Elon Musk hinted Tesla was looking into after witnessing the long lines of people waiting at Tesla’s stores to reserve the $35,000 long-range all-electric vehicle. expand full story

reservation Stories April 4, 2016

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Tesla’s stock (TSLA) was up over 4% in early trading this morning after CEO Elon Musk spent his weekend answering questions on Twitter about the newly revealed Model 3 and sending out updates about the number of reservations Tesla is accumulating.

Since Tesla unveiled the vehicle last week, 8 financial analysts issued new notes updating their analysis of Tesla’s outlook and currently the general consensus is a “buy”, but with an average price target of $253 – representing only a ~6% upside. expand full story

reservation Stories April 1, 2016

model 3 wild

Tesla CEO Elon Musk confirmed tonight that the automaker has now over 232,000 reservations for its newly unveiled Model 3:

[tweet https://twitter.com/elonmusk/status/716089404985487361 align=’center’]

Musk has been updating the public on the Model 3 reservations tally which has blown past the most optimistic predictions. expand full story

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Never one to shy away from controversial accounting, Tesla CEO Elon Musk today tweeted his take on the initial Model 3 sales numbers which are at 180K barely 24 hours into sales. By his math, which he estimates an average of $7000 in options on each Model 3 sold and more controversially, counting every Model 3 reservation as a sale, he’s come up with a $7.5 billion payday for Tesla.

Clearly, everyone who put down $1000 yesterday and today isn’t going to buy a Model 3 worth an average price of $42,000. But a huge number of those people will and more importantly, many more people will try to get in early to reap the $7500 tax incentive from the US government over the coming months.

Update: The reservation count is now nearing 200K and we’re likely nearing the end of the $7500 tax credit window.

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reservation Stories March 31, 2016

“I’ll get there an hour early,” I thought to myself. “Maybe there will be ten or fifteen people in line, but I need some time to get photos before the doors open.” I arrive at 9:06 to a packed parking lot and a long line. I’m #56 in line at Tesla’s Cleveland location, one of three stores in my home state of Ohio, and it’s raining.

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We were confident that Tesla’s reservation process would be fairly successful, especially in the US due to federal tax credit cap, but this morning we are blown away by the enthusiasm for a vehicle no one has seen yet.

If you have been following our live updates of the queues at Tesla retail locations this morning, you know that over 13,000 16,000 have been spotted waiting in line to reserve the Model 3 in the US and Canada alone. expand full story

reservation Stories March 30, 2016

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Andreas Stephens from Sydney, Australia was the first person reported in line to reserve the Tesla Model 3 in store a whole 2 days before the doors open, but now that we are about 24 hours away from Tesla accepting reservations for its $35,000 long-range vehicle, we are starting to get reports of lines and tents at Tesla stores around the world. expand full story

reservation Stories March 29, 2016

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48 hours before the doors open on Thursday morning, Andreas Stephens is already in queue to be the first person to reserve a Model 3 at Tesla’s store in Sydney, Australia. It looks like the Sydney store is expecting a crowd as they already set up a queue line.

Over 500 people have signed up to campout at Tesla’s retail locations to be among the first to reserve a Model 3 sight unseen, but Stephens is taking it to the next level with 2 full days of camping. expand full story

tesla Model 3 invite

Thursday evening, Tesla will unveil, perhaps, their most important vehicle in company history, the $35,000 Model 3. Tesla certainly will not be taking their time getting an eye on the demand. Pre-orders begin at the company’s brick-and-mortar storefronts Thursday morning and online Thursday at 8:30pm Pacific (3:30am UTC), during the unveiling event.

You’re reading that correctly: Tesla will be allowing public pre-orders for the Model 3 hours before anyone even sees it. So why would anyone put down $1,000 to reserve a car, sight-unseen, that is probably 2 years away from delivery? expand full story

reservation Stories March 22, 2016

Architecture firm offers to split the cost of reserving the Tesla Model 3 with its employees

When we say that we’ve never seen so much enthusiasm for a product launch in a long time, we are not kidding. Here’s a great example. San Antonio-based Architecture firm Lake Flato announced that it took upon itself to offer to its employees the opportunity split the $1,000 cost of the reservation deposit for the Tesla Model 3.

reservation Stories March 21, 2016

tesla Model 3 invite

In a blog post today, Tesla released all the details on how to reserve a Model 3 on March 31st, including the deposit required depending on your country and currency.

Tesla reiterated that reservation starts on March 31st worldwide in store, while it first said that it will be starting at 10am Pacific (5pm UTC), now the automaker wrote that it will take reservations when the stores open – you can check your local store business hours here. Online reservation will start at 8:30pm (3:30am UTC) at the same time that the livestream of the event will start.

The online reservations will be available on the automaker’s newly acquired domain Tesla.com, which currently simply redirect to Teslamotors.com. expand full story

reservation Stories February 26, 2016

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The electric vehicle industry had an exciting start in 2016 with a number of unveilings, notably the Chevy Bolt and Faraday Future’s FFZer01 concept at CES last month, but arguably none is creating more excitement than Tesla’s upcoming Model 3 event next month. When we asked our readers how many reservations they think Tesla will have for the Model 3 by the end of the year, a majority agreed that Tesla will have over 75,000 reservations by the end of 2016.

We have since reached out to a number Tesla retail stores and representatives have told us that they have been receiving a steady stream of calls since Tesla CEO Elon Musk tweeted the date of the Model 3 unveiling and a rough outline of the reservation process. According to the CEO, reservations will start in store on March 31st and then online the next day. Because of this store reps have told us they are expecting waiting lines to get a reservation in the morning. expand full story

reservation Stories February 11, 2016

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Tesla CEO Elon Musk finally released more details about the reservations process for the upcoming Model 3 launch and it gives us an interesting opportunity to discuss the implications of the vehicle’s introduction on Tesla’s limit for the $7,500 federal tax credit for electric vehicles.

We’ve heard some discussion in EV industry about the implications of GM advertising the Bolt’s pricing as “$30,000 after incentives” and in contrast, Tesla is talking about the Model 3’s starting price as being “$35,000 before incentives”. expand full story

reservation Stories October 7, 2015

Tesla-model-x-blue-driving-2There’s been some inconsistencies and very little information about the Model X’s availability and pricing, but it could change in the coming weeks as Tesla says it will invite the next group of reservation holders to configure their cars in the “next few weeks”. The company sent out an email this morning to people who have a reservation for the production version of the Model X (see email below). expand full story

reservation Stories September 5, 2015

Tesla’s Model X had a record month for reservations – could have as much as ~27,000 ahead of launch

Paul Carter, TMC Model X moderator and a Canadian Signature reservation holder, posted his monthly Tesla Model X reservation tally update and revealed that August was Tesla’s best month in over 3 years for Model X reservations, which bodes well ahead of the vehicle’s September 29th launch.

The tally relies on reservation numbers posted by new reservation holders on the Tesla Motors Club forum. Members post their sequence number for their region and version of the vehicle (signature or production). A summary tally of the highest numbers reported to date is regularly updated to show the current tally total.

reservation Stories September 1, 2015

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Tesla opened the Model X’s design studio to a select few reservation holders. There are two levels of reservation for the Model X: reservation for the production version which requires a $5,000 deposit and the signature version which requires a $40,000 deposit.

According to users on Tesla’s Norwegian forum,  signature Model X reservation holders can access the design studio to configure their Model X and place their order.  expand full story

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