Tesla Model 3 Pre-Orders Dwindle Down To 373,000; Duplicate And Cancelled Orders Reason Behind Decrease

May 20, 2016 08:08 PM EDT | Katherine De Guzman

Last week, Tesla announced that they have received 253,000 pre-orders for the Model 3 and it increased to more than 400,000 earlier this week. However, it has been reported that the actual number of orders is only 373,000.

According to Auto Blog, Tesla received 8,000 canceled orders from their customers and 4,200 were found to be duplicates thus the decrease in the actual number of pre-orders for Tesla Model 3. The latest announcement comes from a filing wherein Tesla is seeking to raise $1.4 billion in capital so as to bring the Tesla model 3 to the market.

BGR also reported that Tesla said in their filing that they could increase the number of reservations if they wanted to as they note that they have obtained such level of reservation even without advertising or paid endorsements. They also said that they had minimal social media posts before the March 31 unveiling.

The statement continues to claim that few people were only there at the unveiling and were given the chance to test drive Tesla Model 3 and that the number of reservations is quite high despite them not publicly disclosing the features of the car. The statement also said that they believe they can "further increase the number of Model 3 reservations" but they think it would be best to guide their customers to purchase the products that are now in production.

Tesla seeks to deliver 200,000 of the Model 3 by late 2017 and wants to produce around 500,000 vehicles more for Model 3, Model S, and Model X, Car Scoops reported.

Tesla currently offers Model S, which starts at $76,500 while Model X starts at $83,000. For Tesla Model 3, it is expected to sell for less than half of the amounts being paid for Model S and Model X. It could start at $35,000. For the pre-orders, customers are asked to pay a $1,000 deposit, which is refundable in case customers like to cancel their orders. 

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