Tesla has refunded nearly 23% of all Model 3 reservation deposits in the US

Most of the refunds happened this April, after Elon Musk again said the mass-market car would be delayed.

Two years ago Tesla began accepting $1,000 deposits for its new, lower-priced Model 3 electric car, with the expectation that customers would likely receive their vehicles in 2018. Hundreds of thousands of people have reserved one.

But perhaps due to extended production delays, many customers have been asking for their money back.

As of the end of April, some 23 percent of all Model 3 deposits in the U.S. had been refunded, according to new U.S. data from Second Measure, a company that analyzes billions of dollars in anonymized credit and debit card purchases.

These cancellations aren’t necessarily bad for Tesla, since its production rate is nowhere near as high as it needs to be to fulfill the more than 450,000 reservations it still has. Last quarter, it delivered just 8,180 Model 3s.

www.recode.net/2018/6/4/17414496/nearly-a-quarter-of-teslas-model-3-reservation-deposits-in-the-u-s-have-supposedly-been-refunded

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