Tesla Reportedly Refunded 23% of Model 3 Deposits

By Anna Breuer on 4 June 2018
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Electric vehicle manufacturer Tesla may have refunded as much as 23% of all deposits on its new Model 3 in the United States, according to new data released Monday.

Tesla began accepting $1,000 deposits for the new EV two years ago, promising customers that delivery would be in 2018. Tesla has repeatedly announced delays in vehicle deliveries to the hundreds of thousands of customers who reserved one.

The data, made public by Second Measure, a company that analyzes credit and debit card data, indicates that buyers are likely frustrated by the wait and repeated delays.

Tesla, which claims 450,000 deposits, said that the data did not align with its own internal figures. Last August, however, when Second Measure reported a 12% cancellation rate, its figures tied out to Tesla’s own report.

As the delays mount, Model 3 buyers may find they have become ineligible for federal tax credits for electric vehicles, which are expected to be phased out at least in part this year for Tesla.

(Photo: Accura Media Group)

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