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Tesla model 3 electric car pre-orders hit the 276,000 mark

The figure of 276,000 pre-orders for the Tesla 3 look very impressive, but as all car manufacturers know, until those are turned into an agreement with a deposit those will not necessarily all translate into actual sales when the car is released, with first deliveries due in late 2017.

The aim of Tesla is, according to chief executive Elon Musk, to have manufactured half a million vehicles by 2020, and believes the new automobile will make it possible to hit that target. What we know about the Tesla 3 is that the basic model will have a price tag of $35,000 and a claimed range of 215 miles before a re-charge is required. Certainly in the US the original cars, most of which have been the model S, has seen just over 50,000 on the road, which has made it the best-selling electric car in the world, overtaking the Nissan Leaf.

Naturally the company is facing some stiff competition, apart from the Nissan, other cars with a price tag similar and due to be released first include General Motors’ Chevy Bolt and the Chinese company BYD’s Qin EV300.The Nissan Leaf has been a success, but with a price tag of £25,000 and a limited range of just 100 miles, a re-think may be needed by Nissan, even though they account for a quarter of Europe’s electric vehicle production and a fifth of all sales.

Certainly Tesla needs the car to be successful as they still posted a net loss of $889m, although they did spend $718m on research and development over the period. However Eon Musk is very upbeat suggesting that if the pre-order turn into contracts at an average price of $42,000, then on the first day alone these would have been worth to $7.5bn.



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