Mexican Media Brands
Refunds Climb on Deposits for Tesla Model 3 Orders
Tesla Inc. says it has some 450,000 deposits in hand for its Model 3 electric sedan. But an outside analysis claims refunds of the $1,000 pre-orders are surging.
#hybrid
Share
Tesla Inc. says it has some 450,000 deposits in hand for its Model 3 electric sedan. But an outside analysis claims refunds of the $1,000 pre-orders are surging.
The pace of new deposits has been steady since last October, according to Second Measure Inc. The San Mateo, Calif.-based company tracks consumer trends by analyzing anonymized purchase records.
But Second Measure says the rate of refunds has doubled this year. That means Tesla is now returning twice as many deposits as it is collecting. The carmaker says its data indicates otherwise.
Tesla has struggled to overcome production snags and reach its targeted output rate of 5,000 cars per week. Even at that pace, it would take the company about two years to fill the preorders it still has.
The carmaker began taking deposits for the Model 3 two years ago. Second Measure calculates that 23% of those preorders have been canceled to date. The firm estimates only 8% of depositors have moved on to the purchase phase by paying an additional $2,500 and configuring their car.
Customers typically receive their vehicles within a few weeks of being invited to configure them, according to the analysis.
RELATED CONTENT
-
Hyundai Shops for a Partner to Make Electric Scooters
Hyundai Motor Co. is looking for a domestic partner to mass-produce the fold-up Ioniq electric scooter it unveiled at last year’s CES show in Las Vegas, a source tells The Korea Herald.
-
Electric Motors for Aero and Auto
Rolls-Royce—the manufacturer of aircraft engines, not the one that makes high-end vehicles with four wheels—is working with another British company, YASA, on the development of the ACCEL, an electric airplane.
-
48-volt Hits Production
“In 2025, approximately one in five new vehicles across the world will be equipped with a 48-volt drive,” Juergen Wiesenberger, head of Hybrid Electric Vehicles at Continental North America said last week.