Tesla’s upcoming Model 3 has been stirring up the news for the past few days since its debut last week. In just 24 hours, almost 115,000 orders were secured and are now estimated to have reached over 325,000 reservations. People were falling all over themselves to place a $1,000 refundable reservation fee for this upcoming electric car that is estimated to be sold at $35,000 minus the government taxes.
The Model 3 is expected to be one of the best electric cars that were ever made. The Model 3 is expected to have a five-star crash rating in every category. Not much information on the Model 3 has been released except for a few hints given out by Tesla CEO Elon Musk. What we currently know of is that the Model 3 will come with a standard autopilot safety feature including emergency braking collision avoidance.
It is also expected to speed up from 0 to 60 mph in 6.0 seconds. The base version will have an EPA rated range of at least 215 miles per charge and is rumoured to have an 80 kWh battery pack capable of a no-charge 5-hour 364-mile drive. The car’s exterior is legit Tesla but its frontal angles look a bit like a Porsche Panamera; the Model 3 looks like a crossbreed between a Model S and a Model X roofline.
It will come with a glass roof and will be the roomiest autonomous sedan ever; it can fit five adults comfortably while compressing the dashboard and moving the front seats forward will give extra room. It is also equipped with a large trunk as well as a “frunk” where the engine should’ve been. With less information about the autonomous car, the more we become suspicious of why people made reservations for this mysterious self-driving sedan.
Some would want to actually own and drive one while some will also see this as an investment. Think about it, for as low as a $1,000 reservation fee, you may get the chance to own a $35,000 autonomous vehicle and eventually sell it back for an average price of $42,000. That’s like $7,000 profit and you can get yourself another car. This “flipping” isn’t impossible as it has happened to some Tesla Model Xs.
The “normal” Tesla Model X is sold at a retail price of $132,000 while the Founder Series costs $142,000. There’s one Tesla Model X that was posted for sale packed with the Ludicrous Speed Upgrade and just 475 miles on its odometer. The reason for selling? It’s undisclosed. It’s still a mystery why the owner is selling this bad boy. There have been others sold for $145,000 – a significant profit considering the minimal effort it took.
There’s also one posted up on Craigslist that was recently delivered to its owner but is automatically listed for sale at $180,000. Then there’s a Model X P90D with only 142 miles on it sold at a reasonable price of $139,000.
See here, it wasn’t impossible for the Model X to be flipped so it’s also most likely to happen to the Model 3. The only way to prevent too much flipping to happen is for Tesla to produce as many Model 3s as they can. Tesla is targeting to deliver 500,000 units per year by 2020 since it is about to cross the 500,000 pre-order mark.
There are others who can patiently wait for their orders but it is also likely that some will pull out (it’s a refundable reservation fee). When more people pull out then it’s most likely to happen that those who have waited patiently will get the sweet reward of profit. However every car enthusiast, especially the rich ones, is reminded not to stop buying and flipping rare supercars as often as they’re doing it.