Tesla Model 3 crosses $8 billion Pre orders Value Worldwide in 24...

Tesla Model 3 crosses $8 billion Pre orders Value Worldwide in 24 hours

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Tesla Model 3

Tesla Model 3 crosses $8 billion Pre orders Value Worldwide in 24 hours: Tesla Model 3 crosses $8 billion in Pre orders Value Worldwide in 24 hours in flurry of orders. The Tesla Model 3- 1, 98,000 pre orders in 24 hours, company may need more cash in his belly.Tesla Model 3

Tesla Model 3 crosses $8 billion Pre orders Value Worldwide in 24 hours

An initial flurry of orders has put Tesla Motors’ new Model 3 sedan off to a fast start, but it may need to raise more cash if it hopes to deliver the new electric vehicle to customers on time, analysts said on Friday.

Tesla’s stock price piled up at around $237 in afternoon trading after opening at nearly $248, the highest mark in six months ever by any company. Up to Thursday’s last close, Tesla stock had soared and bull a 60% since hitting a 12-month low in February 2016.

This Friday itself, Musk told the company had taken orders for 198,000 Model 3s in the first 24 hours.

Barclay’s analyst Brian Johnson, with a bearish   pull up at $165 price stock target, it believes the surge of Model 3 reservations.

The higher-than-expected $8 Billion in Pre-orders value could “set the stage for an equity offering” after the company’s first-quarter results.

While the Model 3 will have a starting price of $35,000, some analysts expect the first cars will sell for an average of $50,000-$60,000 in Pre-orders value.

Tesla still faces a stuff competitor’s challenge in production for the Model 3.

However the demand for Tesla Motors new lower-priced electric car surprised even the company’s CEO Friday as 198,000 people soared and plunked down $1,000 deposits to reserve their vehicles.

The Pre-orders orders came from across the globe even though the car isn’t scheduled for sale until late in 2017.

The current Bookings for the car – pre-order costs $1,000 – have already begun in India.

Thus it will accelerate the electric vehicle plans of even Indian companies.

Murthy said that he was looking to buy a new car and did not want that to be gasoline-based. Although got huge response from the world market.