By on July 7, 2016

1985 Honda Accord, Image: Honda via NetCarShow

Electric automaker Tesla Motors has collected more than 400,000 deposits from customers for its 2018 Model 3 sedan, despite having little more than rough renderings of the car to show prospects. This is a remarkable achievement that speaks to its groundbreaking products and the cult-like following of Tesla CEO Elon Musk.

People standing in line to put down deposits and then be willing to wait for a hot car is not without precedent. I sold Honda automobiles during the 1980s and the similarities to today’s Teslamania is striking.

Memo to Musk: If you can indeed increase your production five-fold in two years, I am sure you will move 400,000 Model 3s, but most of them won’t go to today’s deposit holders.

Allow me to explain. The scene was Benson Honda in San Antonio. The year was 1984 … (Read More…)

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