Tesla snapped up more than 325,000 Model 3 pre-orders in one week

One week into the pre-order process, Tesla Motors says it has received more than 325,000 fully refundable pre-orders for its mass-market Model 3. That's more cars than it has ever produced.

Intriguingly, around 5% of people placed an order for two Model 3s, the maximum limit Tesla CEO Elon Musk implemented before opening pre-orders. Each pre-order deposit is $1,000.

Musk is quick to point out, if every one of these customers goes through with the purchase of their pre-ordered Model 3 and pays an average retail price of $42,000 per car, that adds up to $14 billion in revenue. Read more...