When the Tesla Model 3 was announced in April 2016, customers had the opportunity to make a $1,000 deposit to become one of the first to purchase the car when it becomes available. According to reports, close to a whopping 400,000 customers did just that within a few days.
We decided to use the TXN consumer spending application to find out who these customers are.
Here is what deposit payments total spend looks like in our panel of over 3 million credit and debit cards over the last 24 months:
Indeed, we see a huge spike in April 2016.
Zooming in on the last 6 months, we also see strong growth now that the company began shipping the very first of the Model 3 vehicles:
Where in the US are the customers deciding to pay $1,000 for the right to buy a Model 3? Take a look at customers numbers adjusted for population:
Atop the list we find San Francisco and Los Angeles, two metro areas from Tesla's home - California.
Since Tesla's CEO alluded to becoming a major player in the future autonomous vehicle sharing economy, here's how customers who made a Tesla deposit spent on Uber and Lyft over the last 24 months, compared to the average consumer in our panel:
For both ridesharing apps, we see a greater spend per customer value for customers who made a Tesla deposit, with the difference being greater in the case of Uber - those customers spent over 50% more per customer on Uber than the average Uber customer.
It seems plausible that future Model 3 owners will be happy to enter their cars into the Tesla shared autonomous fleet to earn money when they're not using the car.
Learn more about consumer spending analytics with TXN.