Nearly A Quarter Of Tesla Model 3 Reservations Reportedly Refunded

With no end in sight for Tesla's Model 3 production issues, it seems many customers are losing patience
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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.”

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Comments

RWB Dude

Lol and the tesla fanboys I tell that Tesla is going out of business don’t believe me… this is proof right here

06/05/2018 - 15:26 |
38 | 2
H5SKB4RU (Returned to CT)

In reply to by RWB Dude

Just wait for the tesla version of R.C 😀

06/05/2018 - 15:29 |
6 | 0

I think, this idea to open car showroom as franchise on Mars, didn’w work out as it planned…

06/06/2018 - 07:56 |
0 | 0

You do realize that they had much worse problems with the Model S and Model X, right? They just get more publicity because they are showing how amazing they are.

06/06/2018 - 22:01 |
0 | 1

The biggest problem with Tesla right now is not production problem/build quality/autopilot accidents….etc, it is its business strategy. Pour money on niche products like the Semi and the Roadster when the company is clearly short on cash is not a clever thing to do. What Tesla really should be doing is a mid-size luxury SUV that rivals GLC/X3/Q5/XC60/RX….etc, given they are making their manufactures big money right now. From time to time Elon’s ambitious is working against his company

06/17/2018 - 12:45 |
0 | 0
CannedRex24

I bet they’re putting their money on the new 3 Series or the new I-Pace

Poor Tesla. If only you didn’t rush. If only you didn’t rush

Just like Ubisoft

06/05/2018 - 15:26 |
89 | 1
Anonymous

Rip lol

06/05/2018 - 15:36 |
4 | 0
5:19.55

You picked the wrong buisness plan fool!
Big smoke comes out of a door holding a suitcase

06/05/2018 - 15:49 |
49 | 0
H5SKB4RU (Returned to CT)

In reply to by 5:19.55

Sorry, i had to drop it

06/05/2018 - 16:36 |
29 | 0

Elon: alright then, what’s your idea
Smoke: We needa Big FAAAST V8 muscle car that looks like it’s from Da 70s.
Elon: bu-but we’re an Electric car company!
Smoke: Well, Ugg, Make it green then FOOL!

06/05/2018 - 20:30 |
10 | 1
Anonymous

Model 3 is like Alfasud. Bad quality cars

06/05/2018 - 15:49 |
4 | 0
Rahul 1

In reply to by Anonymous (not verified)

Alfasud??? Hey, at least the Alfasud has more presence and quality than it’s made to be by some. I’d rather an Alfasud any day than a car with an I Mac for an infotainment system…

06/05/2018 - 15:53 |
13 | 0
Anonymous

In reply to by Anonymous (not verified)

More like an AMC Pacer. Both were meant to be revolutionary, but turned out to be strange looking and unreliable. Only that the Pacer was slightly more reliable.

06/06/2018 - 15:46 |
3 | 0
FLixy Madfox

Ya know… I rode in a model 3 reacently. It actually wasn’t that bad. Kinda quite but then again, it’s supposed to be. It’s definitely quirky and wierd and, call me a fanboy all ya want, i think it’s actually pretty good. The ride quality is nice, the interior was comfortable, and it didn’t feel cheap. Sure, some of the panel gaps weren’t the best and it’s creepily quite but hey, it’s a Tesla.

Anywho, i think that with a little time, it can be a pretty average 3 series rival

06/05/2018 - 16:02 |
7 | 4

Quiet*

06/05/2018 - 18:24 |
1 | 0

Yes, apart from the fact that a 3 series is actually built to be sporty while beeing comfortable. The Tesla is “just” comfortable. Enough to please most people, but not enough to please me.

06/05/2018 - 20:37 |
2 | 0
Anonymous

Bad news about Tesla?! Oh boy!
Incoming New Tesla reveal in 3,2,1…

06/05/2018 - 16:08 |
20 | 0
MParente

In reply to by Anonymous (not verified)

Looks like you were right, SpaceX Roadster announcement xd

06/07/2018 - 20:57 |
1 | 0
TheBagel

I owe my friends a big ol’ “TOLD YA!”

06/05/2018 - 16:08 |
12 | 0
Anonymous

Teslaroadster will surely hate to read this

06/05/2018 - 16:24 |
4 | 2
Griffin Mackenzie

This is usually about the time in a car manufactures lifetime where it is bought by GM and run into the ground

06/05/2018 - 16:31 |
33 | 1