Tesla to start taking reservations for the Model 3

Drivers who want one of the first versions of Tesla's next vehicle, the Model 3, can reserve one for just $1,000.

The company announced Monday that it will start taking reservations for its first mass-market, lower-priced electric vehicle on March 31, the same day the automaker will unveil the vehicle. The most basic versions of the Model 3 are expected to start at around $35,000 with first deliveries in 2017.

The Tesla Motors Inc. logo.
Michael Short | Bloomberg | Getty Images
The Tesla Motors Inc. logo.

In addition to providing reservation details on its website, the West Coast will receive the first deliveries, and the company will move east from there. After that, Tesla will begin deliveries around the world.

"As we continue to ramp production, we will begin deliveries in Europe, [Asian and Pacific Coasts] and right-hand drive markets," the company said. "It is not possible to ship to all regions simultaneously because regulators in each part of the world have slightly different production requirements."

While most people around the world will be able to reserve a Model 3 starting at 11:30 p.m. ET on March 31, there is a way to make sure you get to the top of the reservation list.

Tesla said those drivers who visit one of its stores during the day on March 31 will be able to get in line ahead of those who place an order later that night. And if you want to ensure you're as close as possible to the top of Model 3 reservation list, buy a Tesla Model S or Model X.

"As a thank you to our current owners, existing customers will get priority in each region, meaning that the fastest way to own a Model 3 is to own a Model S or Model X," the company said.

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