Would-be owners face a 19-month long backlog of Model 3 reservations at the current production rate
Even with the record-shattering production of 7,000 vehicles rate achieved last week, some 5,000 of them being the Model 3, Tesla Motors is still a long way from home when actual deliveries of their mid-size sedan to most would-be owners come into play. Tesla Motors revealed that the company still has a backlog of about 420,000 Model 3 reservations. This means that, at the current production rate, an insanely long wait time of 19 months for their cars to be delivered could be experienced by the customers.
The remaining net Model 3 reservations count at the end of Q2 still stood at roughly 420,000 even though we have now delivered 28,386 Model 3 vehicles to date. When we start to provide customers an opportunity to see and test drive the car at their local store, we expect that our orders will grow faster than our production rate. Model 3 Dual Motor All Wheel Drive and Model 3 Dual Motor All Wheel Drive Performance cars will also be available in our stores shortly.
When the automaker revealed the Model 3, Tesla racked up an incredible number of reservations for their entry-level electric vehicle model. Even before most people could actually see or drive the car in person, the U.S. based automaker achieved close to half a million of reservations, a number that made waves throughout the car industry. With Tesla starting to change reservations into actual orders, that number dropped but is expected to rise to similar levels when Tesla reveals a fleet of display and test drive vehicles.
We can easily predict that when Tesla begins Model 3 deliveries on a higher scale and people actually get to see the vehicles in person - whether at a store or thanks to their friends and family - the growth of reservations and actual orders will once more, be impressive. While the tax credit break may impact those numbers a bit, Tesla is certainly on the way to rack up more Model 3 reservations in the forthcoming months. The only problem is you'll have to wait for it. A long time.
Below, you will find a neat little video giving you five reasons why not to wait on the Model 3 and buy the Model S instead.