Elon Musk’s Twitter account has been a go-to source for breaking news recently, and the Tesla CEO once again took less than 140 characters to announce (somewhat indirectly) that the Model 3’s first year of production has sold out. The company’s founder revealed the enlightening information while responding to an article shared by Fortune Magazine saying that new rounds of reservations for the Model 3 aren’t expected to be reopened for another two years.
The news marks the first time that Musk or anybody from Tesla has commented about the Model 3’s production status since May when the automaker confirmed that it had received more than 370,000 reservations for the entry-level model. Tesla has been quiet on that front since, but with Musk’s tweet, we at least get a good idea on the timetable for reservations on the car to re-open.
Tesla is still targeting a mid-2017 date to begin production of the car with a goal of getting the first wave of models delivered later in the year. At its current rate, the automaker is still in the process of ramping up its production capacity to accommodate all the Model 3 orders that have arrived. It’s only expected to deliver around 80,000 units in 2016, which is a big improvement from the 50,000 units it delivered in 2015. That number is expected to go up again in 2017 onwards as the company gears up to start production of the Model 3. The goal, according to Fortune, is to have manufacturing capabilities to produce around 500,000 models, many of which are likely going to be the Model 3.
In the meantime, those who have made the $1,000 refundable deposit on the car will have to continue to wait for their names to be called and those looking to join the long queue for the Model 3 will have to wait a little while longer to get in line.
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