$10 Billion Call? Chowdhry Sees Tesla Model 3 Reaching 300,000 Preorders
It’s time to test drive Model 3, the sedan recently unveiled by Tesla Motors Inc (NASDAQ: TSLA). Global Equities Research’s Trip Chowdhry said that Tesla set the world record for any Consumer Tech Company when pre-orders for Model 3 crossed the $4 Billion mark within the first 24 hours. Tesla recorded pre-orders of over 115,000 Model 3 vehicles during that period, booked by people who had not even seen the Model 3.
Pre-Orders Over The Weekend
Analyst Trip Chowdhry expects the number of preorders to exceed 300,000 by April 3, since consumers have “seen and appreciated” the Tesla Model 3. With those many units, the company would set another world record - that of any Consumer Tech Company taking pre-orders worth more than $10 Billion.
“There is no way BMW, Porches, GM, Toyota, Honda or any other existing auto manufacturer can every come even closer to competing with Tesla Model 3…Model 3 has been designed for the iPhone generation consumer, whose lives are digitally super-centered ... and competition is completely clueless,” Chowdhry wrote.
“Impressions from Test Ride: Fast; Superb handling; extremely comfortable – spacious,” the analyst commented.
Tesla Model 3 comes with a complete glass roof, which extends from the windshield. The center screen console is horizontal in Model 3, as compared to being vertical in Model S and Model X. “There are no traditional gauges in the Model 3...very simplistic and elegant,” Chowdhry mentioned.
Model 3 deliveries are expected to be on schedule, with no delays. “Mass Manufacturing optimized: Simple and elegant design makes mass manufacturing a breeze,” Chowdhry said. He added that the vehicle used a combination of Steel and Aluminum, which made manufacturing simple, fast and cheap. “Looking at the Model 3 inside and out...we think Model 3 supply chain is at least simpler by a factor of 3.”
— Benzinga.com (@Benzinga) April 1, 2016
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