Tesla ends Model 3 reservations, opens to orders in US and Canada

Brittany A. Roston - Jul 10, 2018, 5:48 pm CST
0
Tesla ends Model 3 reservations, opens to orders in US and Canada

Tesla has stopped taking new Model 3 reservations for new customers in North America, opening orders to anyone who wants to purchase a unit. Until now, customers were required to pay $1,000 as a deposit to reserve their spot in the Model 3 production line. That has changed for new buyers — you can no longer make a reservation if you don’t already have one. Orders can be placed through Tesla’s website.

New customers can design their Model 3 vehicle on Tesla’s website, after which point a final price is shown. To order the car, a deposit of $2,500 is required. Once that is placed, Tesla assigns a VIN to the customer, after which point it is not possible to get a refund for the deposit amount. The deposit amount is applied to the total cost of the car.

The base Model 3 costs $35,000, though the final price for customers is often higher as they add on optional features. Buyers in the US and Canada who already made a reservation will retain their priority status.

By the end of last month, Tesla saw Model 3 production exceed 5,000 cars per week; the company produced more than 50,000 units in its second quarter of this year, representing a massive increase versus its Q1 2018. Still, the company has hundreds of thousands of reservations in place and no doubt will see more orders in the future.

Last month, Tesla stated that it expected an uptick in orders once local test drives became available. The company will likewise be rolling out Dual Motor AWD and Dual Motor AWD Performance units to its stores for potential customers to checkout.

SOURCE: CNBC


Must Read Bits & Bytes