Tesla Racks Up 276,000 Model 3 Pre-Orders in Just 3 Days

Orders are piling up fast and exceeding the expectations of the company for its Model 3 - which will have a base price of $35,000 (roughly Rs. 23 lakhs) - even though it won't be available until late next year.

Amid reports of queues to snap up the vehicle, Musk tweeted: "276k Model 3 orders by end of Sat."

And in a subsequent tweet added: "A Model 3 order gives you priority in your geography, so, even tho total count is high, ordering early will make a big difference locally."

With the Model 3, a compact sedan unveiled Thursday, Tesla aims to show it can appeal to the general public and produce cars en masse.

(Also see:  Tesla Model 3 Is Headed to India)

The base price is half that of Tesla's luxury Model S and the Model X, which start at $70,000 (roughly Rs. 46 lakhs).

Musk said Thursday that orders had passed 115,000 worldwide and hinting that demand was outstripping expectation later tweeted: "Definitely going to need to rethink production planning..."