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115,000 reservations in first 24 hours…$4 billion in sales

115,000 reservations in first 24 hours…$4 billion in sales

Elon stated there were 115,000 reservations placed in the first 24 hours. Incredible. Simple incredible. Even if everyone stayed with the base model ( no options) that equates out to over $4 Billion in reservations. If reservations slowly creep up to 175,000 that'll mean over $6 billion in reservations. Add another $750M for those that will be ordered "loaded" versions. That brings the total to nearly $7 billion. Even if you factor in 20% in cancelled orders, the total is still over $5.5 billion.
Elon has to be very pleased and appreciative to everyone. Looks like its full speed ahead.

Chunky Jr. | 31. März 2016

I would be really nervous right now if I were GM, Toyota, etc. The bar has been raised really high for what you can get for $35K (in 2017 dollars, not today's dollars)

KP in NPT | 31. März 2016
Chunky Jr. | 31. März 2016

Where did they get the 132K number from? Did someone at the reveal give updated info? Or did Tesla hand out sequential reservation numbers?

Bighorn | 31. März 2016

I'd think the in store sales will be a small fraction of the online sales--would hope to see some big numbers in the next days, rather bigger numbers.

KP in NPT | 31. März 2016

I don't know but I think even that's been surpassed - at the reveal, I saw a still of the screen that was behind
Elon. It was active after the presentation and it was up to 133k. They must be keeping tally there and the press is reporting.

Chunky Jr. | 31. März 2016

That is cool that they had a real time (or near real time) tally. What a great day for Tesla!

Chunky Jr. | 31. März 2016

I had no intention of reserving one, but now that I have seen one, I may go for it.

Haggy | 31. März 2016

I don't think GM has to worry about this. GM has to worry about GM. It's already too late for GM to "compete" with the Bolt since Tesla outsold their entire expected production in a matter of hours. It's a question of whether they can sell some of the 30,000 that they plan to make. The good news is that people will be able to walk into the dealership and not have to wait in line behind 900 people that day. They might not have to wait in line at all. They might even have their pick of several cars to choose from on the lot.

Haggy | 31. März 2016

Yes, the tally on the screen kept going, and according to Usa Today, it was at 137760 an hour after the presentation. So at 22,000 reservations an hour, I figure that it will take roughly 18 months before every man, woman and child in the US has ordered one. Unless it tapers off.

carlgo | 31. März 2016

If 100,000 buyers spend an extra $10K on their cars, Tesla makes a Billion more! You can bet upscale versions will be promoted.

lar_lef | 31. März 2016

Sound the fife, beat the drum- another step on the way to revolution.

MikelMNJ | 31. März 2016

You have to also factor in continued cost of operations, vendors, parts etc. At the end of the day, of that 4 billion, they are only making (i'm guessing) a 6-10% profit per vehicle sold. Still a win for them, but it's not the 4 billion in raw cash after it's all said and done.

bj | 01. April 2016

Tesla's biggest challenge now, like any rapidly growing company, is managing the expectations of people who want their product but can't get it. The (now) over 130k reservations effectively means the entire 2017-2018 production of the M3 has already been sold out. That is simply extraordinary - but also a probable source of extreme frustration for thousands if not tens of thousands of people. Obviously in many ways the success of the M3 is a "nice problem to have" but this still won't be easy for Tesla to manage.

And oh boy am I pleased I lined up first thing yesterday...

deeageux | 01. April 2016

"They might even have their pick of several cars to choose from on the lot."

Surly you jest because you will be lucky to find a single Bolt at the Chevy Truck dealer.

Then they will try to sell you a Malibu instead.

The company most likely to feel the Model 3 Burn is BMW.

Unlike Mercedes they don't get 50% of revenues outside of luxury autos.

Unlike Audi they don't have VW to lean on.

Unlike Detroit they don't have full size Trucks to lean on.

Unlike Japan they don't have profitable sub $20k compact sedans and subcompact hatchbacks to lean on.

Nexxus | 01. April 2016

It's like that picture of the Toronto store, where the line went around the block and wrapped around the Mercedes dealership. Mercedes, BMW, Audi, etc... are getting nervous about now and will really feel the pain at the end of next year when people quit buying their cars as they flock to Tesla to get the Model ≡.

David N | 01. April 2016

"It's like that picture of the Toronto store, where the line went around the block and wrapped around the Mercedes dealership. Mercedes, BMW, Audi, etc... are getting nervous about now "
I'm trying to picture what the conversation inside that Mercedes dealership must have been like. Salesman discussing why don't people line up like that for our new models.

Chunky Jr. | 01. April 2016

One thing the strength of the preorders does is allow Tesla to plan for a higher production run than they originally intended. Instead of building a line that can do 100K cars that can ramp up, they can build a 200K line that can ramp up from there.

RJT85 | 01. April 2016

Us poor Brits are paying £1,000 deposits. That's just over 1,400 dollars each.
Still worth it though :-)

Dr. Toonhattan | 01. April 2016

Anyone know where we can see a running counter of reservation numbers? Last I heard was 130,000 but that was last night.

Bighorn | 01. April 2016

150k noted in Nasdaq article