Here’s a novel business idea for driving strong growth in an aging, heavily indebted world: build a product that lowers the financial burden of transportation and climate change. Since March 31, Tesla Motors says reservations from Model 3 surpass 276,000:
The Model 3 is a sedan capable of seating five and going 215 miles on a charge and 0-60 mph in less than 6 seconds, starting at a price of $35,000.
To give a sense on the scale of the backlog, BMW sold about 95,000 3-series sedans in 2015 in the U.S. The Model 3 is roughly the same size and price and would likely outsell the U.S.’s best-selling compact luxury car in its first year of production if Tesla can make enough cars….
The 276,000 reservations equates to an $11.6 billion backlog of orders, based on Mr. Musk’s assessment that the average Model 3 would cost about $42,000 with options. Last year, Tesla’s global revenues were about $4 billion.
Just think how much further we could all be today if pig-headed, short-sighted, dumb GM had not ripped its much loved EV1’s out of leasee hands to destroy them all in 2003. They might have even prospered and not needed another taxpayer bailout in 2008. Imagine.