Tesla Model 3 Attracts Over 200K Buyers In 24 Hours

Even before its release, the Tesla Model 3 has attracted more than 200,000 potential buyers within a day of unveiling by Elon Musk.

The car was unveiled by Tesla on March 31 with Musk promising his audience that the product would 'blow them' away. A pre-production version of the car was made available for rides and many who sat in the car praised it. With a range of 215 miles per charge, the Model 3 has a higher range than any electric car in its price range. Its price has been set at $ 35,000 before incentives. Prospective buyers can reserve a car by paying $ 1,000. The car's release is set for 2017.

Musk revealed during the unveiling that Tesla Gigafactory will be able to handle the high volume production of Model 3. However, questions were raised over Tesla's ability to produce high volume of cars given that it made only 50,000 cars last year. Tesla's record of delivering cars on time was also questioned.

By Saturday, the number of pre-orders swelled to 253,000 Musk announced through a tweet while admitting that the production planning needs a rethink.

Definitely going to need to rethink production planning...

— Elon Musk (@elonmusk) April 1, 2016

The Model 3 resembles the Model X in design. Musk said it can seat five adults and can accelerate from 0 to 60 mph in under six seconds. The car's minimalist interiors spurred rumors it could come with self-driving features when it is released; the car's dashboard only as the steering and a 15-inch console screen.

Tesla also announced that it would be breaking new ground with Model 3. "Adding several more countries to Model 3 order page tonight. Check for details, but will include India, Brazil, SA, SK, NZ, Sing & Ireland," Musk said in a tweet.

Large crowds were seen outside Tesla dealer stores, with people lining up to pre-order a car they did not see or test drive. Analysts explained that the interest in Model 3 is an indication of pent up demand for an affordable electric car.