On the 31st of March Elon Musk revealed his latest Tesla, The Model 3. This model is being marketed as the affordable tesla (starting at $35,000) and Musk hope’s it will take the electric car to the masses. You can reserve you own today for only $1000 but you wont be receiving the car till early 2018. Tesla had sold 400,000 units by the middle of April, this is very significant for a company which has only produced 125,000 cars since 2008.
At tesla’s current rate of producing cars it would take them six and a half years just to produce the preorders, this i the reason for tesla’s new giga factory in Nevada. This facility will produce up to 500,000 per year at full capacity which is a large step for tesla. To reach into the top 10 producers in the world you need to be producing close to 3,000,000 cars per year.
In the first 24 hours 180,000 cars were pre-order at an average price of $42,000 this means a revenue of $7.5 billion dollars, with the preorders now over 400,000 going on the same average price you are looking at $16.8 billion. The company is currently valued at $33.15 billion. There defiantly is scope for tesla to grow further if they can deal with the heavy demands.
