Tesla Motors has taken 198,000 orders for the Model 3 in the first 24 hours, according to a tweet by Tesla CEO Elon Musk.
The average price of the Model 3s reserved was $42,000, which is $7,000 more than the Model 3’s base price.
Thought it would slow way down today, but Model 3 order count is now at 198k. Recommend ordering soon, as the wait time is growing rapidly.
— Elon Musk (@elonmusk) April 1, 2016
Tesla started taking reservations for the model on Thursday morning. By the time Elon Musk unveiled it, the car had 115,000. Not long after, and while the reveal event was still ongoing, the number was climbing into the high 130,000s.
It’ll take $1,000 to get a reservation slot. The very first cars are planned to roll off the line late next year, and early cars will be going to existing Tesla owners on the West Coast.
The Tesla Model 3 is about 20% smaller in stature than its Model S bigger brother – will be able to go from 0 to 60 in under six seconds in its base configuration, with versions that go “much faster.” The Model 3 will also be fitted with Tesla’s autopilot features, which have helped the car be among the safest on highways.
— Tesla Motors (@TeslaMotors) March 31, 2016