Elon Musk Says He Might Be Bipolar

Elon Musk of Tesla

The Model 3 will be priced at around USA $35,000, making it the most affordable offering from Tesla yet.

Tesla also says it aims to deliver a total of 47,000 to 50,000 Model Ss and Model Xs in the first half of this year, but it hasn't given a figure for Model 3 target sales. If Tesla hits its planned production of 500,000 cars a year from the factory, analysts predict that it will outsell BMW, Mercedes and Lexus in the US.

The Model 3 has always been part of Palo Alto, California-based Tesla's plans.

"There are more reasons to think that it won't be successful than it will", says Karl Brauer, the executive publisher for Cox Automotive, which owns Autotrader and other vehicle buying sites.

The same can also be said for the almost 500,000 people around the world who have placed a $1,000 reservation deposit for the auto. He also added, "If you buy a ticket to hell, it isn't fair to blame hell". People ordering a auto now likely won't get it until late 2018.

Due to this huge demand and backlog of orders, drivers have been warned that they may have to wait before they receive their new auto. Robin Santucci was one of the first in line to order a Model 3 at the Santa Monica, California, Tesla store in March 2016. It doesn't have the fancy door handles that caused problems on the Model S, or the gull-wing doors of the Model X SUV. With the Model 3, they hope to become the pacesetter for the market. It has one dashboard screen, not two, and no fancy door handles.

The company is now focused on getting out of "Model 3 production hell", which is basically a way of saying that it wants to ramp up Model 3 production to full capacity before it starts taking orders for a new model. Tesla's quality has been notoriously uneven.

Earlier this month, Musk predicted that within 10 years almost all new cars made in the United States will be autonomous, and half of those will be fully electric vehicles. To cope with the extra demand that the 3 will undoubtedly have as a result, Tesla is planning on a production plan that is targeting around a 100,000 cars made annually, or around 2000 per week.

And 83 percent of them said that they were either "much more likely" or "more likely" to repurchase a Tesla compared with other cars they have owned.

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