Elon Musk Announces "$7.5 Billion" in Tesla Model 3 Sales in 24 Hours

That is, of course, if nobody backs out on their reservation.


Since the window opened Thursday, 180,000 Tesla Model 3s have been reserved by people anxious to buy Elon Musk’s affordable electric vehicle. Today, Musk announced this on Twitter:

“Model 3 orders at 180,000 in 24 hours. Selling price w avg option mix prob $42k, so ~$7.5B in a day. Future of electric cars looking bright!”

During Thursday night’s unveiling of the Model 3 — Tesla’s fourth car after the Roadster, Model S, and Model X — Musk announced that 115,000 Model 3s had been reserved.

Musk did some quick math on Friday to land at his $7.5 billion figure, assuming that nobody backs out on their reservation — maybe they got swept up in the hype yesterday and put a grand on their American Express during a surprisingly brief reservation process. But if they want to back out, they totally can.

Here’s the Tesla Reservation Agreement fine print:

The Reservation Payment is fully refundable at any time (for example, if you choose to cancel or abandon your reservation, or if we decline to maintain you as a reservation holder). This Agreement does not constitute an agreement for the sale of a Model 3 and does not lock in pricing, a production slot, or an estimated delivery date. You are under no obligation to purchase a Model 3 from us, and we are under no obligation to sell you a vehicle. If and when we notify you that it is time to place your order for Model 3 and you wish to proceed with the purchase of a Model 3, such sale and purchase will be governed by a separate and legally binding Purchase Agreement between you and an authorized Tesla dealer.

While there’s been a lot of buzz around Tesla’s massive Gigafactory in Nevada, it’s going to produce batteris only. The Model 3, like the X and the S, will be assembled at Tesla’s Fremont factory with a projected delivery target for the end of 2017.

Musk’s certainly caught up in the Model 3 froth, he even changed his Twitter avatar on Friday — previously it was a photo of Musk holding a violin — to the Model 3’s logo, three glowing horizontal lines.

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