Market Overview

Model 3 Preorders Hit 325,000; Tesla Touts $14 Billion In Implied Sales

Share:
Model 3 Preorders Hit 325,000; Tesla Touts $14 Billion In Implied Sales
Related TSLA
Twilio, The Hottest Stock Among Shorts
Why Tesla's Earnings Report Doesn't Matter
Tesla Model 3 Production Will Be Key Focus Of Q4 Earnings (Investor's Business Daily)

Tesla Motors Inc (NASDAQ: TSLA) announced in a blog post on Thursday it has now received more than 325,000 reservations for its recently announced Model 3 sedan.

Tesla stated its pre-orders imply $14 billion in future sales, representing "the single biggest one-week launch of any product ever." The company added that it has achieved "mainstream" success without paying for any advertisements or endorsements.

Related Link: Detroit News Auto Critic: Tesla Model 3 Is 'The Auto Story Of The 21st Century'

"Most importantly, we are all taking a huge step towards a better future by accelerating the transition to sustainable transportation," Tesla stated, while adding "we would write more, but we need to get back to increasing our Model 3 production plans."

Shares of Tesla were trading lower by nearly 2 percent after 90 minutes on trading on Thursday. The stock has gained more than 25 percent over the past month and more than $100 per share since bottoming at $141.05 in early February.

Posted-In: Model 3 Preorders Tesla Tesla Model 3 tesla motorsNews Tech Best of Benzinga

 

Related Articles (TSLA)

View Comments and Join the Discussion!