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Tesla Model 3

“The excitement has been incredible,” the Tesla team wrote in a blog post. “We’ve now received more than 325,000 reservations, which corresponds to about $14 billion in implied future sales, making this the single biggest one-week launch of any product ever.”

As Tesla points out, it also hasn’t advertised or paid for Model 3 endorsements.

“Instead, this has been a true grassroots effort driven by the passion of the Tesla team that’s worked so hard to get to this point and our current and future customers who believe so strongly in what we are trying to achieve,” the team wrote. “Most importantly, we are all taking a huge step towards a better future by accelerating the transition to sustainable transportation.”

Just 24 hours after opening pre-orders for the $35,000 Model 3, Tesla CEO Elon Musk said the company would have to “rethink production planning” because it received more orders than expected. During that first day of availability alone, Tesla racked up more than 180,000 pre-orders. The average selling price for orders within the first 24 hours was $42,000, so the company made about $7.5 billion in a day. Those ordering a Model 3 in the U.S. had to make a $1,000 down payment.

Electric cars look to be here to stay and will no doubt become even more popular once other manufactures start putting out their models.

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