Customer Deposits/Model 3 Demand Question

[Mark Harvey]

Lost in the hoopla of a positive eps quarter I have mainly been interested in demand for the Model 3

From the share holder letter:
Deposits from customers in Q3 2016: $690,364,000 (up from $679,834,000 last quarter)

This might be a dumb question, but I would kindly ask for insight from investment pros here.

It seems as though reservations from Model X should have been converted to sales by now (end of quarter at 9/31/2016)? Many Model X reservation holders out there still?
Are there other Tesla products that require a reservation with deposit other than Model 3?
Am I bonkers to think that this is a huge number($690,364,000 would imply 690,364 Model 3 reservations @ $1k each)?
What am I missing here?

Thanks for any help

 

[dalalsid]

Model 3 + deposits on all cars in transit + any new deposits for cars in production/not yet produced.

 

[ggr]

5k S/X in transit @$5k = $25M.
Assume that quarter is 25k S/X, and average time from order to delivery is 6 weeks, which is half a quarter. $62.5M. I could be double counting cars in transit here, but let's just add them together. Call that total $90M.

The average Model 3 reservation is actually a bit more than $1k, because overseas reservations are usually a bit more when converted to US$. But ignoring that...

That leaves $600M reservations at $1K, for about 600k reservations.

 

[dalalsid]

5k S/X in transit @$5k = $25M.
Assume that quarter is 25k S/X, and average time from order to delivery is 6 weeks, which is half a quarter. $62.5M. I could be double counting cars in transit here, but let's just add them together. Call that total $90M.

The average Model 3 reservation is actually a bit more than $1k, because overseas reservations are usually a bit more when converted to US$. But ignoring that...

That leaves $600M reservations at $1K, for about 600k reservations.

Aren't s deposits much lower? 2k. Also there are probably some pending x SIG's from row.

 

[Mark Harvey]

Aren't s deposits much lower? 2k. Also there are probably some pending x SIG's from row.

Thanks everyone! Can anyone confirm the deposit $ required with the purchase of the Model S/X?

 

[ggr]

Thanks everyone! Can anyone confirm the deposit $ required with the purchase of the Model S/X?

I admit I was getting the $5k from memory. So I just went and logged in and configured a Model S, and got to the point of putting down a deposit. (P100DL, all options except cold weather and premium sound: about $150k). It said:

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