Assuming that all of the customers who have placed a pre-order for its new car, the Model 3 is now the fastest-selling car that Tesla has ever made. People were lining up for days even before this $35,000 all-electric car was unveiled and since it was shown off the pre-orders have been coming in like crazy. A few hours ago Tesla CEO Elon Musk tweeted that total orders for the Model 3 have crossed 276,000 by the end of Saturday, April 2nd, 2016.
Tesla Model 3 has been created as a mass market affordable all-electric car solution. At $35,000 it’s going to fall well within the budget of customers who didn’t want to spend $100,000 or more on a Model S.
Despite the focus on affordability, Tesla promises that the Model 3 will seat five adults in comfort and that it’s going to have a range of at least 215 miles on a single charge. Musk tweeted that customers will get priority in their geography, which means that ordering a Model 3 early will ensure that they get their unit earlier even though the total count is high.
He also revealed that the Model 3 will be rear wheel drive but will have an option for dual motor all wheel drive. “Even RWD will have great traction on ice due to fast torque response of Tesla drivetrain,” Musk wrote.
The 276,000 reservations mean that Tesla is now sitting on a backlog of orders worth nearly $12 billion. To put in perspective how the Model 3 is going to change Tesla’s fortunes, the company’s entire global revenues for last year were less than $4 billion.