In August 2017, Tesla CEO Elon Musk revealed that Model 3 had 518,000 gross reservations and 455,000 net reservations. Simply put, 63,000 customers (12%) cancelled their orders and took their refund.
According to data from Second Measure, Tesla has refunded 23% of deposits since reservations began. While new reservations have remained at a level, refunds have accelerated in the last few months.
What could be the reason?
For any automaker, the full tax credit for their customers ends a few months after it sells its 200,000th plug-in car in the United States.
Once the full tax credit disappears, for the next six months, buyers get a $3,750 credit. Then it drops to $1,875 during the following six months. – CNN Money
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Tesla is still building higher priced versions of Model 3 – way above the expected $35,000 level.
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As soon as Tesla hits 200,000 sales milestone in United States, federal tax credit will phase out. This further stretches Model 3 price, disappointing customers who thought they would be able to buy Tesla Model 3 for less than $30,000.
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Wait-listed customers still don’t know when they will get their car. But this factor could quickly change, if Model 3 ramp up continues the brisk pace it has set in the last couple of months.
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You can always book the car again. Everyone knows that its going to take some more time before Model 3 price drops to $35,000 and Tesla is ramping up furiously. Why not wait for things to settle down and then pay the deposit.
