Tesla Denies Claim That 23% Of Model 3 Deposits Have Been Refunded, But Won't Say True Figure

A third-party analysis alleges that 23 percent of customers to place reservations for the Tesla Model 3 electric sedan have requested refunds.

The claim comes from Second Measure, a business data analytics company. According to data gathered with its own software from billions of transactions, and a track record of accuracy to Tesla's own self-released figures, the company was confident claiming refunds account for 23 percent of all Model 3 reservation outcomes, versus 8 percent receiving their vehicles.

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Vette71 - 6/5/2018 10:28:15 AM

+12 Boost

At some point Tesla is going to run afoul of the SEC. People are trading in Tesla stock based on the information the company gives out. If Tesla failed to give out critical "material" information, such as a significant change downward in their backlog (reservations) which may have changed what an investor did, that is grounds for legal action by the SEC. Musk is walking close to the legal edge in many of the things he says, or doesn't say.

EVisNow - 6/5/2018 10:47:12 AM

-8 Boost

Musk did give the overall reservation number last earning call. I don't see a "[failure] to give out critical "material" information".

A high number of dropouts is expected due to production delay, a myriad of factors influencing a purchase decision, and in some respect, speculation of early reservation holders. What's important is the number of new reservations that makes up for the cancellations which confirms the legitimacy and popularity of the Model 3.

Based on the reservations/production rate ratio, I think Tesla remains a healthy outlook with ratio >> 1. The key part is to get to the upper part of the production S-curve to keep up with demand. That has been a sticking point for Tesla the past 12 months, a well-known problem and not unexpected.

SanJoseDriver - 6/5/2018 10:57:48 AM

-8 Boost

I'm sure we'll hear more details today at the Tesla annual shareholder meeting.

mre30 - 6/5/2018 11:14:35 AM

+12 Boost

Hmmmm.. "Tesla denies that 23% of Model 3 deposits have been refunded".

Perhaps that is because 53% of Model 3 deposits have been refunded? Let's see them try to bury this tidbit of information in their 6/30/18 SEC Form 10-Q!

EVisNow - 6/5/2018 11:33:20 AM

-6 Boost

@mre30: I read some of your older posts and compare them to your recent ones. One thing emerges: you've become a troll.

supermoto - 6/5/2018 11:55:48 AM

+12 Boost

If the stats on order cancellations were good (i.e. small number of cancellations), obviously Tesla would share the figures.

carloslassiter - 6/5/2018 2:09:06 PM

-2 Boost

Will they kick Elon the Con to the curb today?
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I'll bet you $1 billion that they don't.

SanJoseDriver - 6/8/2018 2:52:46 AM

-9 Boost

Stock rallied, short sellers got screwed, outlook looks positive.