Tesla Model 3 reservation holders who have been patiently waiting for their turn to order their cars just got a chance to move up in line.
The company invited all reservation holders in the United States and Canada to place their orders, according to a Bloomberg report.
To place their orders, reservation holders will have to place an additional $2,500 deposit with the company, just as previous reservation holders have after they became eligible to configure their cars.
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The move has dual financial benefits for Tesla. First, it could give the company an influx of cash when it is sorely needed.
The most recent reports estimate that Tesla still has about 400,000 reservation holders, each of whom has already put down $1,000 to hold their place in line to make an order.
Tesla had been opening up orders in waves, according to buyer's place in line. Now it has opened up ordering to the bulk of those buyers. If even a fraction of those buyers proceed with placing their orders and provide an additional $2,500 deposit, those deposits could add up to millions for the company, which was still losing about $700 million each quarter as of the company's last financial statement, with $3.2 billion cash on hand.
Tesla Model 3 order configurator 6/18 Dual Motor, Performance options [Image via Teslarati]
The second major benefit to Tesla is that the company can now more accurately anticipate revenue from upcoming sales, because it will know how many customers want fully loaded cars and how many want more basic models. After buyers finish configuring their cars, both the buyer and Tesla will know the exact price.
CEO Elon Musk has pulled out all the stops to bring in additional revenue, first opening orders to more expensive versions of the Model 3, including Performance and all-wheel-drive models, which can sell for up to $80,000.
Buyers waiting to order entry Model 3s will still have to wait. They can now access Tesla's Model 3 configurator, but can't deselect features such as the bigger battery, or the Premium interior. Together, these three options add $6,500 to the bottom line