Model X production is imminent following the retooling of Tesla Motors Inc (NASDAQ:TSLA)’s factory and it appears that over 20,000 Model Xs have been preordered by customers around the world. Despite criticism of the falcon-wing doors on the all-electric Model X SUV, consumers don’t seem to mind as they line up to be the first who the Model X delivered.
7,000 orders in August for Tesla’s Model X
While 20,000 is quite a few, that number is only about 7,000 more than what the company said they had orders for back in March. But if you look at the amount of cars that Tesla produces each year it’s massive. The company is presently on track to deliver about 27,000 for the year, all Model S makes as that is the only car it is currently producing having stopped production on the Roadster years ago.
It appears as if 1,300 units were ordered in August alone which makes the Model X the fourth best-selling all-electric vehicle in the United States behind only the Nissan Leaf, Chevy Volt and the company’s own Model S sedan. Tesla has neither confirmed nor denied the pre-order numbers arrived at by the bloggers at the Tesla Motors forum. Either way, it appears that thousands are willing to put down a deposit for a model that has yet to be priced.
United States responsible for the bulk of orders
If the company does indeed have over 20,000 orders, it begs the question from where are they coming? The bulk of the orders are presently coming from United States and Canada, traditional SUV driving countries. About 75% of the orders are coming from these two countries with international orders accounting for the remaining 25%.
In addition to not yet pricing the Model X, Tesla has yet to publish range numbers. So over 20,000 people have ordered a car with no knowledge of how far it can go on a single charge.
Tesla is trading today at $280.66 down marginally as trading closed yesterday $280.76. This represents a loss of roughly 0.05%. The stock began 2014 trading at $150.10.