Tesla says 325,000 pre-orders for the Model 3 just made product history

Tesla Model 3 pre-orders

Tesla on Thursday announced that it has sold more than 325,000 pre-orders for its mass market Model 3 sedan.

Pre-orders require a $1,000 deposit and the cars won’t even roll off the Tesla production line until late 2017 or early 2018.

The company says the aggregate value of the reservations when paid in full is more than $14 billion.

According to the company, the Model 3 is now “the single biggest one-week launch of any product ever.”

“Unlike other major product launches, we haven’t advertised or paid for any endorsements,” Tesla wrote in its blog post.

“Instead, this has been a true grassroots effort driven by the passion of the Tesla team that’s worked so hard to get to this point and our current and future customers who believe so strongly in what we are trying to achieve.”

Tesla CEO Elon Musk unveiled the Tesla Modle 3 during a late night press conference in Hawthorne, California, last Thursday.

Within the first 24 hours, the Tesla Model 3 racked up more than 135,000 pre-orders.

The Tesla Model 3 starts at $35,000 before incentives. The company recently revealed that the average order has reached $42,000 with add-ons.

Written by John Howard

John Howard

John Howard is the Business Editor at BusinessPundit.com. He is an avid watcher of markets, a wallflower of retail, and a fan of disruptive businesses that utilize technology and unique ideas to form brilliant new ways of doing business.