U.S. Markets open in 7 hrs 11 mins

Elon Musk says people are canceling Tesla Model 3 orders because it's like a '1.5 hour wait for hamburgers' at a restaurant

Danielle Muoio
  • L
    I'll wait if the hamburger is really good. People stand in line for 24 hours to buy a dumb phone or see bad movie. There's got to be something else going on with these vehicles! What's the real reason?
  • M
    Do the math... if they're currently receiving 1,800 new orders a day, that's 54,000 new orders a month. Meanwhile, they're currently not even producing 20,000 cars a month (not expected to reach 20,000 per month until December). So basically there's a 2-year wait to get your new car. The way technology is changing so quickly, in 2-years there may very well be a better electric car option being offered from another automaker, so it makes no sense to order a car that far out. That's not even taking into consideration the long wait to get your vehicle serviced, or the long wait for a spare part, etc... Tesla has a good thing going, but unfortunately for them they don't have the size and resources that the other big automakers have, and can't keep up with the demand.
  • j
    A nice car until states start to levy heavy taxes on them for not paying gas taxes. California is already going to do this.
  • C
    I think many people may be canceling their orders because they were under the impression that they were getting 300+ plus miles per charge with the $35K model.
    The fully loaded Model 3 is not all that affordable. Instead, with its upgrades, it sends the cost as high as $69,500. Not saving much over gas cars at that price!
  • A
    Sure. Losing business is always a relief.
  • 4
    Maybe Musk does not know how to mass produce cars. (Period). Ford, GM, and other well established automakers have been doing mass production for many decades and know how to analyze their market and ramp up and down production as necessary.

    Musk has bitten off more than he can chew. Stockholders will not let his mis-management go on for too long. He needs to turn profits and translate that into shareholders' value soon.
  • A
    From the LAT - "Elon Musk's growing empire is fueled by $4.9 billion in government subsidies"
  • H
    Translation: more order will be cancelled. Genius, do the math. Your production is 20,000 a month at best. You have 1,800 a day. Assume you have 20 work days a month, that's 36,000 a month. The extra 16,000 a month makes that 192,000 a year. With the current 500,000 order, it will take more than 3 years before you can deliver all of them. May as well think about Model 4.
  • J
    I envision running out of juice in the middle of nowhere. What if you had to take a long detour around a traffic accident and were already running low on power. Sorry, don't need those worries. Good ole gas for me.
  • ø
    It is a fantastic car if it meets your lifestyle needs, but if you are frequently traveling 250 miles than you need at least a hybrid. If you only occasionally do then it's easy enough to rent a car for that.