Tesla Model 3 Reached 180,000 Pre-Orders In First Day, Broke A Quarter Million In 48 Hours

The Tesla Model 3, Elon Musk's long anticipated affordable electric car for the multitude, finally bowed at the maker's design studio in Hawthorne, California, on Thursday, March 31. The Tesla CEO announced that the brand's latest offering will start at just $35,000. But just don't call it an entry-level car.

Despite its smaller compact executive dimensions, clever packaging enables the Tesla Model 3 to deliver a range of at least 215 miles. The base Model 3 will also be capable of accelerating from 0-60 mph in less than six seconds with more premium versions that will pack an even greater punch. As far as performance and driving experience is concerned, the Model 3 definitely promises to match or even outpace pricier competitors in the compact executive sedan segment.

Apparently, the people at Tesla got the Model 3's recipe right because just 24 hours following the unveiling, Elon Musk shared some really surprising data regarding the pre-orders:

But is the momentum from Day-one sustained? You bet! Musk shared an update on Saturday morning:

That's a quarter million pre-orders in two days! While the reception is remarkably positive, one questions how Tesla could answer the immense spike in demand given that the company had only delivered just over 50,000 vehicles in 2015. If Tesla's Gigafactory does not dramatically increase its production volume, then some Tesla Model 3 customers could face a waitlist stretching four years.

Elon Musk admitted that Tesla will require a "rethink in production planning." Stay tuned as we expect to learn more about the Tesla Model 3 and Tesla's strategy in what looks to be an aggressive period of growth for the brand.