The comparatively affordable Model 3 electric car of Tesla required a reservation and an invitation from prospective buyers until recently. Buyers had to cash out a substantial fee of $1,000 to reserve a spot for themselves for the Model 3.
Model 3 Design Studio now open to North Americahttps://t.co/ArJZhwPf2y— Tesla (@Tesla) July 12, 2018
Now they can simply visit the Tesla website and purchase the car without any need for a reservation.
Musk tweeted about the features of the Model 3 design saying, “Performance version suspension is 1cm lower & has stronger brakes in upgrade package.”
Performance version suspension is 1cm lower & has stronger brakes in upgrade package— Elon Musk (@elonmusk) July 13, 2018
In another tweet about this latest design studio, he said, “Whether you plan to buy a Dual Motor Performance Model 3 or not, take it for a test drive anyway. It’s like having pure fun jacked straight into your brain whenever you want.”
Whether you plan to buy a Dual Motor Performance Model 3 or not, take it for a test drive anyway. It’s like having pure fun jacked straight into your brain whenever you want.— Elon Musk (@elonmusk) July 13, 2018
Now, all you need to do to own a Tesla Model 3 Design is a little bit of patience for the delivery and obviously, the funds. The all-new Model 3 Online Design Studio enables all the prospective buyers of Tesla to pick their preferred model. It will be open to the public now so that there is no more need for a reservation or an invitation that was the prerequisite until a few years now.
That said, there’s a catch! The prospective buyers of the Model 3 Design need to place a deposit of $2,500 when they order the car to ensure its delivery. And that’s not all!
That payment will not be refunded after the order is matched to a vehicle. Once the cash transfer is processed, the buyers will receive an estimated date for the delivery of the car, and it could even take up to 9 long months for it to be delivered.
am very proud of my team and their achievements! And you are my cripophanes!— EIon Musk (@elownmnsuk) July 13, 2018
Tesla is bound to see a significant amount of profitability with the influx of cash that comes from those mandatory deposits and the number of successful deliveries. Musk also revealed that Tesla would bring them closer to a profit with the launch of Q3 and Q4 this year.
The Economist used to be boring, but smart with a wicked dry wit. Now it’s just boring (sigh). Tesla will be profitable & cash flow+ in Q3 & Q4, so obv no need to raise money.— Elon Musk (@elonmusk) April 13, 2018
This is really great news for Tesla as it has seen quite a number of ups and downs, nothing short of a roller coaster ride this year. The tech firm has had its confidence dented quite a bit by the criticisms hurled at Musk for threatening his employees over the entire idea of the unionizing of the workers.
This led to an almost 9% lay off of the workforce of the company in 2018.
Coming back to Model 3, the beginning prices are $35,000, and this model is, by far, the most affordable car when we consider the electric vehicles sold by the company. However, Model 3 also hit several infamous production snags this year, causing quite a ruckus.
That said, Musk’s optimism and the dropping of the whole reservations idea are a clear indication that things might be okay for Tesla after all!