Over 60,000 orders of Tesla Model 3 cancelled: Musk

Elon Musk, the Tesla CEO, revealed during the quarterly earnings call of the company, that about 63,000 people have cancelled their Model 3 pre-orders. He added that the number of orders has decreased from 518,000 to 455,000 approximately. 

Calling the figures "inconsequential", Musk said that the company can shoot off the sales with a little effort, but currently, they are not able to satisfy the already placed orders. 

“Those cancellations occurred over the course of more than a year,” Musk said.

“I think these numbers are inconsequential. With a small amount of effort, we can easily drive the Model 3 reservation number to something much higher but there’s no point. It’s like if you’re a restaurant and you’re serving hamburgers and there’s like an hour and a half wait for hamburgers do you really want to encourage more people to order more hamburgers?”  

The prospective customer's placing the order for Model 3 today will not get the order before the end of next year(2018).

Tesla expects to manufacture 5000 Model 3 cars a week by the end of 2017 and later plans to expand the production to 10,000 cars per week by 2018. 

On July 28, Tesla handed over the first 30 Model 3 cars to early buyers. Since then the company has averaged over 1,800 new Model 3 reservations per day.