With all the buzz surrounding the upcoming Model 3 unveil and how Tesla will likely book 100,000 reservations within the first 24 hours of reservation opening, we decided to do a little math of our own to see what that may mean given some basic assumptions. We know that there are 221 Tesla stores worldwide that will begin taking Model 3 reservation at 10 am local time. Of those stores, there’s a high probability – based on feedback from staff at Tesla stores regarding the volume of inquiries around the Model 3 March 31st in-store reservation process – that hundreds of people will already be lined up, many of which camped overnight to guarantee their early spot in line, before the store opens. It’s important to note that we are assuming 24 hours from a 10am Pacific time opening and not 10am from the Sydney Australia Tesla Store which is 18 hours ahead.
— TESLARATI (@Teslarati) March 24, 2016
Assuming each of the 221 Tesla stores can process a very conservative 30 reservations per hour, though some stores are preparing to handle 50 reservations or more per hour for the duration of the store’s opening hours, we can project a low of 53,000 Model 3 reservations will be placed before store closing on March 31st. These are from people that physically lined up at stores to place their reservations.
Tesla will also be opening up reservations online that same day when the Model 3 unveiling event begins at 8:30pm Pacific time. We also make the assumption that a large majority of existing Tesla owners, who have been given priority on receiving a Model 3 over non-owners, will place their reservations online that evening. Considering a very modest 25% of the existing 100k Tesla owners place deposits on a Model 3, we’re reaching a total of nearly 80k reservations when factoring in in-store deposits.
There’s also the likelihood that a significant percentage of Tesla employees – many of which have already placed their reservations – along with thousands of Model 3 enthusiasts that decided to forego the Tesla store frenzy, will reserve online the minute Tesla makes it available the evening of the 31st. Then there’s the impulse buyers who have heard about Model 3 mania through social media, Engadget, Bloomberg, Fortune, and mainstream media outlets for weeks leading up to the event, and decide to plunk down the $1,000 Model 3 reservation deposit. After all, it’s refundable by Tesla so why not?
With those assumption in mind, the reservation number can climb quickly and easily surpass 100,000 Model 3 reservations within the first 24 hours.