Tesla Motors reports 325K deposits for Model 3

Tesla makes waves with Model 3 unveiling

Tesla Motors said Thursday that it has now received 325,000 orders for its Model 3.

In its statement, Tesla said that the updated figure represents $14 billion in implied future sales. The company also joked that it would have written more on the subject, but needed to get back to increasing its Model 3 production plans.

Tesla shares were down 2.6 percent to $258.50 midmorning Thursday. (Get the latest quote here.)

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Reflections of customers are seen outside the Tesla Motors store on the Third Street Promenade in Santa Monica, California, March 31, 2016.
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Within the first 24 hours of last week's Model 3 launch, Tesla received 180,000 orders, according to CEO Elon Musk.

Musk Tweet 1

In its Thursday statement, Tesla said that the company had not paid for any endorsements or advertising and that "this interest has spread completely organically."

Tesla delivers 14,820 vehicles in Q1

On Monday, shares of Tesla slipped after the company announced that it had delivered 14,820 vehicles in the first quarter, falling short of expectations for 16,000 deliveries.

Although the electric automaker reaffirmed its full-year delivery guidance of 80,000 to 90,000 vehicles, the miss raised questions about how Tesla can expect to deliver the Model 3 in a timely manner.

Musk Tweet 2