- Tesla’s Model 3, the company’s first mass-market electric vehicle, is beginning to arrive at the company’s showrooms.
- Fans are waiting in long lines just to get a glimpse of the vehicle.
- The vehicle has faced significant production delays.
The cars are just beginning to arrive at a select number of Tesla showrooms across the country, and Tesla fans are lining up just to look at the Model 3. Photos and videos posted to Instagram and Twitter recall the release days for major Apple products, like the iPhone, where some customers would camp outside of Apple stores the night before a hot item became available.
The response to the first Model 3 arrivals hints at the potential Tesla has to capture the imaginations of American consumers on a large scale. CEO Elon Musk is an incredible salesperson, and he’s built a cult-like following around himself and Tesla that has begun to resemble what Steve Jobs did with Apple.
A new compensation plan for Musk proposed by Tesla’s board indicates the board thinks that trajectory could continue, as the plan wouldn’t pay Musk unless the company’s market capitalisation reaches certain benchmarks. Musk wouldn’t max out his compensation unless Tesla’s market cap increases from its current value of around $US60 billion to $US650 billion.
One of Tesla’s biggest problems is that it continues to run into significant production bottlenecks when it starts to make a new vehicle. Musk said early in January that Tesla made only 1,550 Model 3 vehicles during the fourth quarter of 2017, despite saying earlier that the company would be producing 20,000 Model 3 cars per month by December 2017.
While Tesla made over 100,000 vehicles in a year for the first time in 2017, the vast majority of those were either the Model S, the company’s high-end electric sedan, or the Model X, its high-end electric SUV. Given that Tesla customers tend to be very happy with these cars.
Here’s what it looked like at some of Tesla’s showrooms where the Model 3 has arrived:
The @Tesla Model 3 is the hottest thing in Silicon Valley. You have to wait an hour just to sit inside. This is at Stanford Mall. The line is already closed for today. Open again tomorrow. pic.twitter.com/6o6K1S09Vt
— Robert Scoble (@Scobleizer) January 15, 2018
— Dan Diazdelcastillo ???????????? (@Daniel_A_D) January 29, 2018
There were over 40 people in line just waiting to sit in the Model 3 showroom car they have at Tesla Stanford yesterday. It’s humbling to see excitement about a car I was fortunate to work on and hope people really love the product.
.#tesla #model3 … https://t.co/sqrEOyWEWb pic.twitter.com/lV7Eqti0L5
— Matt Boyer (@akaMattBoyer) January 21, 2018
— Scott Ellis (@ScottESanDiego) January 27, 2018
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