Tesla Model X Pre-Orders Cross 30,000 Units

Prior to the launch, Tesla has received a substantial amount of global reservations for the SUV.

Ahead of the launch of its first sports utility vehicle (SUV), the Model X, Tesla Motors Inc (NASDAQ: TSLA) has already received a large quantity of pre-orders for the vehicle from around the globe, according to data collected by Tesla Motors Club (TMC).

The table formed by TMC reveals that the electric vehicle (EV) company has received 30,027 Model X reservations worldwide. The data is tabulated into three main regions: North America, Europe, and the Asia Pacific.

Tesla has received 22,538 reservations for the SUV in North America, which is its largest market. The figure represents 75% of the global reservations. 21,193 Americans and 1,346 Canadians are eagerly waiting for their Model X.The company obtained 4,680 orders from Europe, which reflects 16% of the global orders. Asia Pacific only contributes 9% of the worldwide reservations with 2,809 orders. In Asia Pacific, Tesla has received 2,345 orders from China, 366 from Hong Kong, and 98 from Australia.

Since the data collected by TMC is via posts by members on different threads and other forums, it wouldn’t provide a clear picture of Tesla Model X orders. Furthermore, customers who have upgraded from a production order to a signature order have been counted twice and cancellations are not taken into account.

Nevertheless, the data gives a glimpse of the excessive demand for the EV giant’s long-awaited crossover. The data reveals that the pre-launch demand for the falcon-wing vehicle is far greater than the company’s existing premium EV, the Model S. The sedan was able to receive only 12,000 pre-orders ahead of its launch. However, the vehicle has created substantial brand loyalty and satisfaction among Tesla users.

Tesla has said that Model X deliveries will start within a month or two. The company lowered its full-year delivery guidance due to complexities related to production. The man behind Tesla, Elon Musk, said that Model X is probably the world’s most difficult vehicle to build.

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Author D Laidler

I am David, economist, originally from Britain, and studied in Germany and Canada. I am now living in the United States. I have a house in Ontario, but I actually never go.  I wrote some books about sovereign debt, and mortgage loans. I am currently retired and dedicate most of my time to fishing. There were many topics in personal finances that have currently changed and other that I have never published before. So now in Business Finance, I found the opportunity to do so. Please let me know in the comments section which are your thoughts. Thank you and have a happy reading.

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