Over 60,000 orders of Tesla Model 3 cancelled: Musk

Elon Musk, the Tesla CEO, revealed during the quarterly earnings call of the company, that about 63,000 people have cancelled their Model 3 pre-orders. He added that the number of orders has decreased from 518,000 to 455,000 approximately.

Calling the figures "inconsequential", Musk said that the company can shoot off the sales with a little effort, but currently, they are not able to satisfy the already placed orders.

“Those cancellations occurred over the course of more than a year,” Musk said.

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“I think these numbersare inconsequential. With a small amount of effort, we can easily drive the Model 3 reservation number to something much higher but there’s no point. It’s like if you’re a restaurant and you’re serving hamburgers and there’s like an hour and a half wait for hamburgers do you really want to encourage more people to order more hamburgers?”

The prospective customer's placing the order for Model 3today will not get the order before the end of next year(2018).

Teslaexpects to manufacture 5000 Model 3 cars a week by the end of 2017 and later plans to expandthe production to 10,000 cars per week by 2018.

On July 28, Tesla handed over the first 30 Model 3 cars toearly buyers. Since then the company has averaged over 1,800 new Model 3 reservations per day.