Nearly 400,000 Reservations Made For Tesla Model 3

The Tesla Model 3 could soon be a fixture on American roads. The company announced that it received more than 325,000 $1,000 reservations, worldwide, for the affordable model just in the first week reservations were available, corresponding to about $14 billion in implied future sales. That number of reservations is now reported to be closer to 400,000. The high demand for the Model 3 has made it the single biggest one-week launch of any product ever, according to Tesla’s blog.

The Model 3 is Tesla’s most affordable car yet, starting at $35,000. It achieves 215 miles of range per charge and is designed to attain the highest safety ratings in every category. It has seating for five adults and goes from zero to 60 mph in under six seconds.

The company stated on its website that the interest in Model 3 has spread completely organically. “Unlike other major product launches, we haven’t advertised or paid for any endorsements. Instead, this has been a true grassroots effort driven by the passion of the Tesla team that’s worked so hard to get to this point and our current and future customers who believe so strongly in what we are trying to achieve. Most importantly, we are all taking a huge step towards a better future by accelerating the transition to sustainable transportation.”

The Tesla website states Model 3 deliveries will begin late 2017, but with such a high, unexpected demand, it has been speculated that the automaker may not be able to release all of the vehicles until 2019, 2020 or even later. Green Car Reports ( reported Tesla will also have to raise more cash to cover production and associated capital costs.

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