The initial estimate for the Tesla Model 3 reservation numbers of 400,000 units has been revealed to be a tad optimistic, with more the specific figure being at about 385,200 units.
That’s before Tesla reduced the amount to 373,000 after around 8,000 pre-order customers canceled their reservations and 4,200 were found to be duplicates.
In order to expedite the release of the $35,000 electric sedan to the 370k+ folks who are still interested in it, the automaker has gotten an extra $1.4 billion in cash by giving out additional shares of that amount.
And while Tesla believes that getting more reservations would be easy, the company would prefer customers to get those vehicles that are already being produced, namely the Model S and Model X.
According to a filing by the company, as per Automotive News:
If we wanted to, we believe that we could further increase the number of Model 3 reservations with minimal effort but believe it is better to guide customers to purchase products currently in production
That would make matters much easier for the Palo Alto brand as there would be fewer frustrated customers waiting in line for the compact sedan. Furthermore, Tesla is confident of being able to push out a total of 100,000 Model S and Model X units by the end of this year.