Tesla Motors recently unveiled its upcoming Model 3 sedan, and the response was overwhelmingly positive. As of April 2, the Model 3 already reached 253,000 pre-orders, farmore than expected according to Elon Musk, CEO of Tesla Motors. However, almost no one outside of Tesla itself has been able to drive the car yet. The company opened the car for reservation the morning before its actual reveal, which may seem pointless, but Tesla reported over 100,000 reservationsbefore the car was even revealed. Before the event, all that was known was the price and a general estimate of the car's range on a full charge. With such an impressive number of pre-orders, what makes the Tesla Model 3 so special? As it turns out, there are plenty of reasons to pay attention to the Model 3 as it nears its release.

Before analyzing the Model 3 itself, it is important to understand the advantages of electric vehicles. Instead of using gasoline, all Tesla vehicles have built in large rechargeable battery packs, which eliminates the use of gasoline and the harmful emissions that come from it. While coal is often burned in the generation of electricity used to charge Tesla vehicles, coal is not the only energy source that can be used to charge an electric vehicle. In an ideal situation, wind and solar power can be used to charge electric vehicles. This creates a 100% green energy situation. Additionally, electric vehicles do not require oil changes or similar maintenance to stay functional as internally these cars are mainly a motor and a drive train rather than a full engine with additional components. There are additional advantages and disadvantages to electric vehicles, but the points listed above are often selling points for customers.

Tesla Motors is well known for its top-of-the-line electric vehicles, including the Model S sedan and the newer Model X SUV. The Model S is more well known and is currently the safest car in America according to the National Highway Traffic Safety Administration. The Model X was released more recently than the Model S and it has its own suite of features as well. The Tesla Model S is perhaps one of the best family sized sedans on the market, featuring performance that rivals some high end sports cars with family friendly seating and accommodations. But it comes with a pretty sizable price tag, starting at $75,000 if purchased up front at full price. The price is the most significant drawback in an otherwise wonderful car. Enter the Model 3, a smaller electric vehicle from a highly regarded company, at a much lower price point of $35,000. Model 3 is what Elon Musk and Tesla have been working so long to achieve—a fully electric vehicle for the masses. Some details on the Model 3 are still yet to be revealed but the initial reveal clearly piqued the interests of many. The design is rather unique but clearly features Tesla's distinct style. Many people are interested in Tesla's vehicles, but the price has been an issue for a few years. Now, at $35,000, the upcoming Model 3 sits in the mid to high end range. At about the same cost as an Audi A4, it will be possible to buy a much more environmentally friendly Tesla vehicle.

Model 3 does not have a definite release date yet, but it is slated for delivery beginning in late 2017. This release allows for production of all the reserved units—and more. But, it also serves as a test for Tesla. There is no doubt that The Model 3 will be a great product, but Tesla has yet to deal with such a large demand for its vehicles. In 2015, Model S sales crossed 100,000 units, and now the Model 3 has over twice as many pre-orders as the Model S. The demand is there, and Tesla will have no issue selling its new vehicle. However, if Tesla is unable to rapidly produce Model 3 units, the company may face customer satisfaction issues and cancelled reservations. Should Tesla succeed in filling all reservations—and more—the Model 3 has the potential to become the best selling electric vehicle in the years to come.