Tesla refunds 23% of Model 3 Deposits

Fair chance I’ll end up canceling my reservation, having bought a Prius Prime. That, plus my wife wants us to get more of an SUVish sort of thing, and she hates the screen: She thinks it looks like a PC on a temp-employee desk! I personally am more positive about it, but not 100% convinced either...

Perhaps I’ll cancel and line up for the Model Y when it’s announced.

 

The whole article and chart is confusing and contradictory.

• Tesla says these figures don't agree with theirs
• 60K cancellations out of 450K reservations is 13% not 23%
• a significant number of those model 3 reservations were converted to model S/X sales, which is what Tesla was trying to do in the first place.
• If the chart is extrapolated based on whatever index they are using, it shows a factor of 525 (units?) cancelled while a factor of 810 (units?) new reservations during that same period. That is a net gain for the number of reservations. The title of the article is poorly written and although very interesting from a different perspective, does amount to "clickbait."

 

pretty sensible comments following the article. hard to know much precisely, we'll just have to wait and see.

 

My reservation was paid via credit card. The cancellation was refunded by check. I believe but have no proof that my name was removed from the reservation list.

Since none of us have access to Tesla's accounting system everyone is speculating the best they can and Tesla's policy of opaqueness encourages the behavoir.

Does it really matter how many reservations and dollars are on the books? Does anyone make an investment decision based on that number?

In my own personal experience I know of 4 reservations made. Two were cancelled. One went to a Model S. The fourth is holding out for the promised stripper Model 3.

 

Any data can be useful to investors.
The number is not as important as the indicator of demand for the product.

As for their index, we will have to see.
They state their index was very close to past confirmed numbers. So the question is, are they off by a little, or a lot.
I’m skeptical, but the estimate is not unreasonable.

 

Obviously the 450,000 thousand reservations number was misleading and actually the number is closer to 250,000-300,000 thousand, and obviously as Tesla has baited and switched, 1/4th of the people that gambled on getting a 35,000$ Tesla decided to hedge their bet.



Until Toyota buys Tesla

 

Nah, Toyota won't buy Tesla. After all, "no one is knocking on their door asking for electric cars"

 

I have little doubt that the $35K Model 3s will come out eventually, although hardly anybody will buy it at that price (almost everybody will toss in at least an extra $1000 for other than black paint). I’m guessing the average selling price will be around $45ish before tax.

Clearly though, they are working to save the company’s nice person first, and I personally am OK with that.

 

Yes, I fit that description. I will be putting $11K to $15K options on my $35K model 3 car.

 

Anyone looking to cancel I'll take your reservation...if transfers are a thing?

 

Transfers are not a thing, except to family members.

 

Some reservationists (scalpers) have sold their reservation for as much as $6K. Although technically not permitted by Tesla, they seem to look the other way. Best way to make contact with a potential seller (scalper) is at Tesla Motors Club or Ebay.

 

Some of that happens. Some others 'sell' the car by letting the 'buyer' choose their configuration which the original owner them completes.
That involves a lot of trust and cost though, on both parties.
I also don't feel it is fair to those that DID stand in line, or reserve earlier.

 

Tesla Asks Model 3 Waitlisters for Another $2,500


An additional $2,500 per vehicle should provide Tesla with much needed cash during its critical second quarter. The firm does not break down reservations by region, and has not disclosed a reservation number recently. Currently, customers can choose between Model 3 Long Range Rear-Wheel Drive, Model 3 Long Range Dual Motor All-Wheel Drive and the Model 3 Performance. The basic Model 3 sedan, which has a less expensive battery, starts at $35,000 and is not yet available.

So, from bait and switch back to another bait....and switch.

 

This is nothing new. The $2500 is the deposit on configured orders.
Tesla has sent out a lot of configuration invites. Those that decide to configure place a $2500 deposit. Same as it has always been.