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Tesla News: Orders For Model 3 To Be Delivered Mid-2018

First Posted: Oct 19, 2016 06:01 AM EDT
CORTE MADERA, CALIFORNIA - APRIL 04: An exterior view of a Tesla showroom on April 4, 2016 in Corte Madera, California. Worldwide pre-orders for Tesla's upcoming Model 3 have surpassed 275,000 in the first week that pre-orders were made available to the public.<br />
CORTE MADERA, CALIFORNIA - APRIL 04: An exterior view of a Tesla showroom on April 4, 2016 in Corte Madera, California. Worldwide pre-orders for Tesla's upcoming Model 3 have surpassed 275,000 in the first week that pre-orders were made available to the public.

(Photo by Justin Sullivan/Getty Images)

Tesla Motors Inc. announced the availability of their new Model 3 cars in mid-2018 for customers who place their orders for Tesla's new product starting next week.

According to Reuters, those who have already booked will still get their cars in 2017 as what the company promised before. This contradicts earlier reports that all orders for the Model 3 will only be available by 2018 or even later.

Tesla released a statement indicating that production and delivery of the Model 3 will commence on the latter part of 2017.

"We still plan to begin Model 3 deliveries in late 2017, and we adjusted the date on our marketing page to reflect more accurate timing for new/future reservation holders," the statement read.

Orders for the Model 3 have reached around 373,000 as of May, just two months after the new Tesla vehicle was introduced last March 31 during a Tesla event in Hawthorne, California. Currently, there is an estimated 400,000 orders for the Model 3 which is priced at $35,000 before government incentives.

Tesla will reveal a new product this Wednesday sparking rumors and speculations on what founder and CEO Elon Musk has in store for everyone. Most believe that the final exterior of the Model 3 will be revealed at the event.

One speculation by Brian Johnson, an analyst from Barclay, indicates that the company will be updating their Autopilot system. Johnson also thinks a crossover version of the Model 3 is planned.

Tesla's Autopilot system has been under much scrutiny recently after the death of ex-Navy SEAL Joshua Brown while using the technology. Because of the tragedy, German officials have asked the company to drop the Autopilot label as they believe it misleads drivers into thinking that they can use the system without their full attention.

Musk is also working on a merger of Tesla and SolarCity, a company owned by his cousins Lyndon and Peter Rive. In anticipation of the merger, Tesla has agreed on a partnership with Panasonic regarding the production of solar panels.

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