Tesla Model 3 Pre-Orders Reach 276,000 In The First Three Days

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Tesla Motors' latest product, the Model 3, has turned out to be more popular than initially expected.

Some 276,000 reservations had been made by the end of Saturday. The number speaks for itself, especially since it was reached in just three days, but even if you are one of the future Model 3 owners, who managed to deposit $1,000 for your upcoming ride, don't expect to take delivery anytime soon.

In fact, the first cars will start appearing on the streets by the end of 2017 the earliest, and they will set their owners back for at least $35,000, before any government incentives for electric vehicles, and also before any options are checked on the list. For the money, the smaller sibling of the Model S will offer a similar styling and enough room for five adults, along with the ability to reach 60 mph, from a standstill, in 6 seconds, while traveling for at least 215 miles (~350 km) on a single charge.

The newest member of the Tesla family can also be ordered in markets outside the United States, including the United Kingdom, Republic of Ireland, New Zealand, China, India and Brazil, as BBC reports.

Last year, the company delivered 50,580 vehicles, with the Model S saloon leading the way, as it became more popular than the Nissan Leaf, but even so, the firm posted a net loss of $800 million for 2015, mostly because it spent $718 million on research and development over that time period. Tesla plans to build 500,000 units annually, once production will be at full capacity.