Tesla got 200, zero orders for the Model three in about one day – Apr
Tesla got 200,000 orders for the Model three in very first day
Musk tweeted Friday that Tesla was flooded with 200,000 orders twenty four hours or so after it began taking deposits. He added that the company will have to reconsider how it will meet that request.
The car’s embarking price is $35,000, but Musk said that the average selling price so far is $42,000, since the cars can be loaded up with options. That means the company has logged about $8 billion in sales.
Most buyers didn’t even wait to see Musk unveil the Model three Thursday night in California. By the time he took the stage at 8:30 p.m. PT, there were already 115,000 orders.
“Future of electrified cars looking bright!” Musk tweeted earlier Friday.
Model three orders at 180,000 in twenty four hours. Selling price w avg option mix prob $42k, so
$7.5B in a day. Future of electrical cars looking bright!
Before the Tesla event began, buyers had to go to a Tesla store to reserve a Model Trio. Online ordering opened up about an hour before the unveiling.
But they’ll have to wait until the end of next year, if not 2018, to take delivery of their fresh cars. Musk warned that the wait is getting longer as the orders pile up.
“Thought it would slow way down today, but . the wait time is growing rapidly,” he tweeted.
Thought it would slow way down today, but Model three order count is now at 198k. Recommend ordering soon, as the wait time is growing rapidly.
It was an exceptional launch, Morgan Stanley auto analyst Adam Jonas said in a note to clients Friday.
“If Tesla can produce and supply (even toughly on time) the car they unveiled last night at close to a $35,000 price, then this stock is most likely fairly undervalued,” he said. “Granted, it’s only a fully refundable thousand dollar deposit, but to achieve well over 100,000 preliminary orders for any car in the very first twenty four hours, even with no deposit, is an admirable achievement.”
Tesla ( TSLA ) shares rose Three.4% on Friday. The company’s stock has been under pressure thanks to low oil and gas prices, raising concerns about how viable a mass market electrified car can be.
People who bought Tesla’s luxury Model S and Model X very likely weren’t motivated by high gas prices, but mass market car buyers are more sensitive to prices at the pump.
Investors also worried about delays and cost overruns associated with the Model X crossover, which went on sale late last year. And production of the Model three has gotten off to a slower embark than many had hoped.
Shares of Tesla were down more than 40% year-to-date in mid February. But shares have been climbing for the last month as oil prices recovered and anticipation built for the Model three unveiling.