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Tesla Model 3 Sales: Not Too Shabby

And the company hasn't even advertised or paid for any Model 3 endorsements.

 & Angela Moscaritolo Managing Editor, Consumer Electronics

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The Model 3 is working out nicely for Tesla, which is already on track to pull in more than $14 billion for the electric car, just one week after pre-orders opened.

Nextcar Bug art"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."

That last bit is a tad questionable; Apple sold 13 million iPhone 6s and iPhone 6s Plus models in the three days last year, not to mention those 1 million 4s pre-orders in 2011 and 1 million PS4 purchases in 2013 over 24 hours. Tesla didn't elaborate on its statement, but those are still some impressive numbers for a company that is not quite as mainstream as Apple or Sony and is selling an expensive product with a learning curve.

Tesla Model 3

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 recieved 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.

In a tweet Thursday, Musk said just 5 percent of Model 3 customers reserved two cars (the max allowed), suggesting most people want to keep it for themselves and aren't looking to flip the vehicle for profit.

"We want to thank everyone who has shown their faith in Tesla and the mission of electric vehicles," the team wrote. "We would write more, but we need to get back to increasing our Model 3 production plans!"

About Our Expert

Angela Moscaritolo

Angela Moscaritolo

Managing Editor, Consumer Electronics

My Experience

I'm PCMag's managing editor for consumer electronics, overseeing an experienced team of analysts covering smart home, home entertainment, wearables, fitness and health tech, and various other product categories. I have been with PCMag for more than 10 years, and in that time have written more than 6,000 articles and reviews for the site. I previously served as an analyst focused on smart home and wearable devices, and before that I was a reporter covering consumer tech news. I'm also a yoga instructor, and have been actively teaching group and private classes for nearly a decade. 

Prior to joining PCMag, I was a reporter for SC Magazine, focusing on hackers and computer security. I earned a BS in journalism from West Virginia University, and started my career writing for newspapers in New Jersey, Pennsylvania, and West Virginia.

The Technology I Use

My little Florida beach bungalow is brimming with smart home tech. I have a smart speaker or display in every room, allowing me to control other connected devices by voice. The Nest Hub on my bedside table lets me set wake-up alarms, control my smart light bulbs, and set the temperature on my smart thermostat. I use the Amazon Echo Show 8 on my kitchen counter to browse recipes, reorder protein powder, check the weather, and watch the news while I do dishes. 

Because I suffer from allergies, air purifiers are essential. My favorite model is the Dyson Purifier Cool TP07, which doubles as a fan and continuously sends indoor pollution data to its companion mobile app. 

My pitbull Bradley sheds, so a good robot vacuum is a must. I currently use a premium Ecovacs Deebot that can both vacuum and mop, empty its own dustbin, and wash its own mop cloth. 

For fitness, I like to mix up my routine with cycling, indoor rowing, running, and strength training in addition to yoga. I take classes on the Tonal 2 smart strength training machine, I row indoors on an Aviron machine, and track my beach runs with an Apple Watch while listening to music on my Apple AirPods Pro. On the weekends, I love riding e-bikes like the rugged, beach-friendly Aventon Aventure for fun and fitness.

My job involves a lot of virtual meetings, so a quality webcam, microphone, and ring light are important. I use the Jabra PanaCast 20 webcam, the Elgato Wave: 3 microphone, and a Yesker tripod ring light. 

As for my preferred phone platform, I'm an iPhone person, but I've also extensively used Android for product testing.

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