Ahead of the Tesla Model 3’s launch on March 31, everyone knew the $35,000, 215-mile electric sedan would be popular. Just how popular we didn’t know however, and one week removed from the vehicle’s unveiling, the car’s popularity has blown expectations completely out of the water.
In just seven days, Tesla has received more than 325,000 pre-orders for the Model 3, totaling a whopping $14 billion in implied future sales and prompting the company to upgrade its factory in Fremont, California. It’s important to note that buyers only needed to plunk down $1,000 to reserve their car, but that hasn’t stopped Tesla from calling the unveiling “the single biggest one-week launch of any product ever.”
The iPhone 4S and Sony Playstation 4 may have something to say about that, but to Tesla’s credit, the automaker doesn’t pay for huge ads in Times Square or shell out for celebrity endorsements, making the electric hype machine all the more impressive.
“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,” said the company. “Most importantly, we are all taking a huge step towards a better future by accelerating the transition to sustainable transportation.”
In a scene that likely gave retail employees Black Friday flashbacks, EV fans literally camped overnight outside Tesla stores to reserve their Model 3. Most walked away with an estimated delivery date and a fun story to tell, but brand CEO Elon Musk is hoping to give them a “token of appreciation” for their support. We don’t know what the would-be campers will receive yet, but given its source, don’t be too surprised if there’s a slight delay.
Volkswagen’s newest EVs in China are making its American and European models look unusually conservative.
With Xpeng’s help, VW has introduced 800-volt charging and advanced urban driving assistance. The new VEGA technology package brings its locally developed vehicle platforms and CEA electronic architecture under one umbrella. Bloomberg reports that Volkswagen intends to update VEGA every three months. Western buyers can find pieces of that package, but not the whole thing in a Volkswagen.
BYD has launched the third-generation Qin Plus DM-i in China, and the first thing that caught my eye is its price. According to CarNewsChina, the plug-in hybrid sedan starts at 79,900 yuan, which is about $11,980. That’s an incredibly low price for a brand-new car, especially by US standards.
What’s even more impressive is the range. The Qin Plus DM-i can drive up to 137 miles on electricity alone, which should cover most people’s daily commutes without using a drop of gas. Once the battery runs out, the 1.5-liter engine takes over. Thanks to its 17-gallon tank and roughly 91 mpg with a drained battery, the combined range reaches up to 1,423 miles.
Apple won the PC market’s worst quarter, but that’s not the entire story. It won the race by stumbling less than everyone else.
PC makers shipped just 57 million computers worldwide in Q3, which might look good, but it’s a 21% year-over-year plunge (via Counterpoint Research). And despite Apple’s Mac shipments falling by 11%, to 5.6 million, its market share rose from 8.7% to 9.8%. How did that happen?