Tesla does it again, this time with the Model 3!

Rarely, very rarely, do we come across such stories in the automotive industry. One such hell of a story is unfolding right now for us to witness. And yes, we are talking about the newest electric kid on Tesla's block, the Model 3!

Before you get excited and loosen your purse strings to join the overwhelming interest and the mad rush it has generated worldwide, please note the Model 3 is scheduled for launch only towards the end of 2017. Deliveries would begin in the state of California where Tesla has its manufacturing plant and slowly expand eastwards in the United States of America before covering the other countries. 

So what, you think? Now get this. 

Within 24 hours of its unveiling on March 31, 2016, the Model 3 received a massive 180,000 pre-orders. With a $ 1,000 deposit against each reservation, that's a cool $ 1.8 Million in Tesla's accounts in 24 hours! In the first week, the order book bloated to include 325,000 reservations. Considering the options selected and the average price, Tesla claims that's a cool $ 14 Billion in pre-orders!

Though Tesla did bring a Model 3 on stage during the unveiling ceremony, Tesla's CEO Elon Musk revealed on Twitter some important elements will be added to the Model 3 prior to launch and some will evolve. In that sense, the car hasn't even been fully revealed yet and still, more than 300,000 people have decided to forgo $ 1,000 to reserve one against their name.

The basic specifications are out though. The 4-door Model 3 will accommodate five adults, have a driving range of 215 miles per charge, accelerate from 0 to 100 km/h in less than 6 seconds and meet 5-star safety rating. Rear wheel drive (RWD) architecture, Autopilot hardware and supercharging capability will be standard while a dual motor All Wheel Drive option would also be available. 

Prices for the Model 3 would start at $ 35,000 before incentives for the base model, making it the most affordable Tesla yet. America would still be the biggest market for this car but the news that the Model 3 will be on sale in countries like South Korea, Ireland, South Africa, India, Brazil, New Zealand and Singapore have excited a lot of folks outside Tesla's existing markets.

From the pictures released, the Model 3 looks like a shrunken Model S which, in essence, it actually is. If massive chrome grilles and air dams feature in your definition of an automobile's fascia, the Model 3 would disappoint. It sports an unusually clean front end. The shiny sheet metal is devoid of any sort of opening and there's not even a fake grille like the one on the original Model S (Tesla has removed it in the recent Model S facelift!). Just like the Model S and the Model X, the dropping roof line and the upward-sloping windows gives the Model 3 a coupe-like appearance. Given Teslas are still not a common sight on public roads, the Model 3 will turn heads for sure. 

With such phenomenal interest shown towards the car, the pressure is now on Tesla to deliver. Every single Tesla launch till date - be it the Roadster, the Model S or the new Model X, have had multiple delays before deliveries finally started. The car-maker has to ensure it isn't repeated with the Model 3 where the stakes are higher and the customer base wider. 

Nevertheless, the Model 3 is undoubtedly one of the most successful automobile launches we have seen in the last few years. Elon Musk appears to be a visionary with a magic wand and the Model 3 is the latest in which he has worked his magic. Go Elon, go Tesla, the whole automotive industry is watching you with bated breath!

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