Tesla Model 3 Reservations Touch 325,000 In Just First Week

Although it's only a week since it was announced, Tesla's car for the masses, the Model 3, is very successful, so that its pre-orders are touching a staggering 325,000 for the upcoming vehicle to date.

The Model 3 may, therefore, be the "definitive electric car" with an alluring appearance and high-performance internals. Buyers seem to be considering the "asking price of $35,000" to be reasonable.

But significantly, Model 3 has not even been fully revealed. Company CEO Elon Musk said that the Model 3's launch last week was only a "half-reveal."

The demand has far exceeded its expectations, as automakers had been looking forward to just about 80,000 to 100,000 reservations after its launch.

Elon Musk tweeted: "Over 325k cars or $14B in preorders in the first week. Only 5% ordered a max of two, suggesting low levels of speculation."

Even as hundreds were lining up outside Tesla Stores all over the world in order to get limited pre-orders, it is important for Tesla to double up so that it can meet its the demand. The carmaker made a recent announcement  regarding "increasing production plans to minimize the wait for Model 3."

Robert W Baird & Co analyst Ben Kallo told  Reuters that "the stock reaction was likely a result of profit-taking rather than disappointment with the numbers."

The tough task ahead of Tesla now is to deliver the car to those who ordered it, after establishing interest and support.

After Wednesday's close, Tesla's stocks shot up by 16 percent since the unveiling of the Model 3 last week.