June 5, 2018

Tesla has reportedly refunded 23% of US Model 3 pre-orders 

Nearly a quarter of Tesla’s Model 3 deposits in the US have reportedly been refunded, but it might be a blessing in disguise.

Two years ago, hundreds of thousands of people put $1k down to reserve Tesla’s new, lower-priced Model 3 electric car, with the expectation that they would receive their vehicles in 2018.

But, according to new data from Second Measure, 23% of all Model 3 deposits in the US were refunded by the end of April, with another two-thirds in limbo, either still holding out hope or waiting for their refund to be processed.

Makes sense…

The Model 3 has been riddled with major delays in the 2 years since Elon Musk and the gang began production, with the latest holdup reportedly to “improve automation.”

In Tesla’s defense, they have started to hit their stride this year. With production rates on the rise, they believe they’ll hit their 5k vehicle-per-week groove in the next month or so.

The refunds don’t necessarily mean bad news, but… yeah

It should also be noted that some people could very well have stepped out of their place in line because they just flat out changed their minds.

Recode also notes that these cancellations could help Tesla fulfill their promises in the long run — with production rates still nowhere near as high as they need to be to fulfill 450k+ orders, the fewer cars they have to deliver, technically the better.

You know what they say… The best way to hit a lofty goal? Lower the bar.

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