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Even after some pruning, Tesla Model 3 reservation list is still YUGE

Despite dropping some 12,000 reservations, Tesla still sits on 373,000 orders for its most affordable car yet.


It was all but expected that, after collecting nearly 400,000 refundable deposits for its forthcoming Model 3 electric sedan at $1,000 a pop, Tesla Motors would see its numbers drop a bit. Some people may not wait until 2017 (or 2018, or 2019), which is totally sensible. But even after a few thousand rezzos fell off the list, Tesla still swims in early-adopter dough.

Tucked away in a recent stock-related filing, Bloomberg picked up on the state of Model 3 reservations. According to that paper, the company has seen only 8,000 cancellations, which comes out to $8 million in returned, refundable deposits.

The company also cut out 4,200 duplicate orders -- while the cars are limited to two per reservation, there was no block-out on Tesla's website, allowing the same individual to fill out multiple two-car reservations.

What's most impressive about this figure isn't the tiny number of dropouts, it's the fact that Tesla achieved this feat without any inch of traditional marketing. It's not like you see any Model 3 ads on television, and you probably won't. That's fine, though, because Tesla will need all the money it has to ensure production starts anywhere near the end-of-2017 goal set by CEO Elon Musk.

Now playing: Watch this: Tesla's affordable Model 3 overwhelms expectations