Tesla Shill: David Middleton
of Tesla Model 3 orders have been canceled, analyst says
Jordan Valinsky @CNNMoney
July 19, 2018
is finally making enough Model 3s — but an analyst says many customers
are growing too impatient to wait any longer for them.
for Model 3 orders have picked up in recent weeks. Refunds now outpace
deposits for Tesla’s new mass-market electric car, according to
Needham & Co. analyst Rajvindra Gill. Tesla disputes that.
an analyst note delivered to clients Thursday, Gill cited extended
wait times for the car, the expiration
of a $7,500 tax credit, and the fact that Tesla has not yet made
the $35,000 base model of the car available for purchase yet.
one in every four Model 3 orders is canceled, Gill said, double the
rate from a year ago. Customers have to put down a refundable $1,000
deposit to reserve a Model 3, then pay another $2,500 to choose their
specific version. They pay the rest when the car is delivered.
wait time for a Model 3 is about 4 months to a year, and base model
customers could wait until 2020, Gill said.
Tesla spokesperson denied that Model 3 cancellations exceed new