Nearly A Quarter Of Tesla Model 3 Reservations Reportedly Refunded
Perhaps the most striking thing about the reveal of the Tesla Model 3 two years ago was the flurry of deposits that came in for the BMW 3-series-sized EV. In the first 24 hours alone, nearly 200,000 people stumped up $1000 to go on the waiting list.
Now though, it seems many aren’t willing to wait for the Californian company to solve its long-running production woes and actually start building Model 3s to the level required to clear the order backlog. Citing data from Second Measure, Recode is reporting that a whopping 23 per cent of deposits for the car have now been returned.
This could be problematic for Tesla’s already precarious financial position. According to a recent report from Bloomberg, Tesla holds $854 million of customer deposits, which the publication pointed out are effectively “interest-free loans.” They aren’t enough on their own to stop Tesla going bankrupt before the year is out without raising addition funds, but customers asking for their money back in droves isn’t exactly going to help.
Recode was contacted by a Tesla spokesperson, who told it that “Second Measure’s data does not align with its internal data,” adding that they “would not be more specific as to how far off it is.”
Comments
Hey guess what? Tesla fixed their braking issues with a simple software update. They also fixed their production bottleneck, and are now set to crank out 500 model 3s per day. But car throttle covers neither of these, and continues to trash talk a car company that has LITERALLY POSTED IT’S PATENTS FOR EVERYONE TO SEE. Tesla doesn’t seem to really care about profitability, they just want to push the car industry into the future, which they seem to have done. If not for them, I doubt if we would have ever seen cars like the i pace or i8.
Thank You! Finally someone else who can be mature enough to not hate on them. They have improved the car industry so much, and yet all people can do is hate. All I have to say is Elon is the real life iron man!
I honestly doubt Tesla will survive to 2020. These financial issues, Musk’s difficulty working out how to efficiently manufacture cars at a good pace and with better quality control makes for a pretty shaky future. A real shame too, since the Model S and Model X seem to be doing very well, unlike the Model 3.
I am a complete car guy, and I love Tesla. CT seems to find any littls peice of info to write an article about, when they don’t know crap about electric cars nor Tesla itself.
TESLA is the future , one day all car will be electric
you do good or bad ,people always critics , future is no engine , no smoke , ,i always like Japanese car ,but now i agree ,TESLA change my mine , keep it up , only motor on rear axle ,thats great ,and later all model will just copy
Didn’t they say there were to be a Model 3 that’s faster around a track than an M3?
I still have a very hard time believing that, and even if it were to be faster, I would still take the M3 (or M4).
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