Tesla Model 3 Orders Top $10bn

Tesla Motors has pre-sold 253,000 of its new Model 3s in their first 36 hours on the market, though the cars won’t available until next year.CEO Elon Musk said the Model 3, due to go into
production in late 2017, will sell at an average price of US$42,000, including
options and additional features, which would give the initial flurry of orders
an estimated retail value of $10.6 billion.

The car’s average selling price projected by Musk is well above the $35,000
base price. Analysts earlier had estimated the first Model 3s could be loaded
with extra equipment and sell for $50-60,000.

Tesla shares closed on Friday at US$237.59, up 3.4 percent.