Report: Tesla Model 3 receives strong bookings but 23% reservations cancelled

Report: Tesla Model 3 receives strong bookings but 23% reservations cancelled

According to a new report coming via Second Measure, Tesla Model 3 reservations have been witnessing an incredible increase in recent times, but nearly 23% of the vehicle’s reservations have apparently been refunded by the automaker.

As per the report which draws attention to the brisk pace of Model 3 reservations as well as some cancellations, the Model 3 reservations which have been refunded by Tesla Motors have largely been a result of the production delays and unavailability of the vehicle’s less expensive versions.

Since Second Measure chiefly analyzes billions of anonymized purchases from credit and debit cards, the report basically attempts to quantify the number of Tesla Model 3 cancellations, by disclosing that Tesla has refunded nearly one-fourth the vehicle’s reservations thus far.

The report via Second Measure said that nearly “23 percent of deposits have been refunded” by Tesla since the beginning of Model 3 reservations. The report also asserted that Model 3 has been facing “a series of production delays,” with the result that “not all depositors have stuck out the wait.”

Second Measure has further claimed that its analysis about Model 3 reservations and cancellations aligns with the figures officially reported by Tesla, and added in the report: “Only Tesla knows how many additional customers have cancelled reservations and are still awaiting refunds.”