Friday, April 22, 2016

Tesla's Electric Car 'Model 3' Breaks Sales Records

Telsa has received a lot of praise after it unveiled the Model 3 sedan but many of its customers who are still waiting to receive their Model X are making their disappointment public. The company, however, claims that it is still on track to meet its target of 80,000 to 90,000 units delivered within 2016.

Including the Model S, Tesla delivered a total of 14,820 cars during the period, almost 50% more than the first quarter of 2015.

"There's a 15-inch landscape touchscreen inside - an interesting change from the 17-inch portrait touchscreen in the Model S and X", The Verge reported of Tesla Model 3's specs.

Tesla took more than 276,000 orders for the Model 3 since it started accepting deposits of $1,000 from interested buyers.

The electric carmaker's latest sedan is the auto that it hopes will make a mark on the mainstream market, and if sales figures at all reflect the amount of interest in pre-orders then Tesla could be onto a victor.

Deutsche Bank said it would not be surprised if Tesla's backlog reached 500,000 by the time the Model 3 entered production in 2017.

Tesla blames its own "hubris" in "adding far too much new technology to the Model X in version 1", as a main reason for the delays, as well as insufficient supplier validation, and lack of ability to manufacture the parts in question itself.

Tesla noted that the shortages from its suppliers had a negative impact on its first quarter deliveries, with the issues lasting much longer than anticipated over the months of January and February. CEO Elon Musk tweeted Saturday that the company would need to build a plant in Europe to keep up with demand.

The basic model will sell for $35,000 (£24,423) - less than half the cost of Tesla's previous models - and has a range of at least 215 miles per charge. Despite being just a prototype model at present moment, Tesla is already taking in pre-orders for the vehicle and they have bagged more than 230,000 signatures. These are the only sales results analysts have to go on, as Tesla doesn't release monthly results as other auto companies do.

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Source: Tesla's Electric Car 'Model 3' Breaks Sales Records

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