Some Tesla Model 3 Orders Won't Be Fulfilled Until 2020
If you hesitated to order a Tesla Model 3 and really want one now, you might be waiting for a few years.
Tesla CEO Elon Musk has admitted demand for the Model 3 is much higher than anticipated, and recently tweeted that he and the company will have to rethink production in order to meet demand. Realistically, not every single person who paid a $1,000 deposit to reserve a Model 3 will follow through and purchase it, but even being conservative, there will be some people who will have to wait until 2019 at the earliest to get their all-electric sedan.
SEE ALSO: Tesla Model 3 Orders Now Past 253K Mark
Pre-orders are now up to at least 276,000 units and analysts believe some customers making early reservations may not take delivery until 2019 or 2020, especially since priority is given to current Tesla owners.
Tesla faced issues getting production going for the Model X crossover, which was delayed numerous times. Musk is confident that the Model 3 will be on track and deliveries will begin late next year. The big question is how quickly Tesla can ramp up production in order to satisfy demand.
The company’s factory was once capable of producing 500,000 units per year, but it will take a sizable investment and time for Tesla to get to that point. The Gigafactory will have to be able to provide all the batteries necessary for half-a-million vehicles annually. Currently, Tesla produces around 50,000 units per year, which means a tenfold increase by 2020.
[Source: CNBC]
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Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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