Tesla says reservations of Model X have hit $40M worth of cars

Tesla Model X with falcon wings fully open

Tesla’s flashy unveiling of its Model X electric SUV/minivan last week looks like it’s paid off in reservations. The car company announced on Tuesday that just a day after the launch, Tesla had accumulated reservations for more than $40 million worth of Model X sales, without any advertising. Of course, reservations don’t always translate into direct sales, but Tesla says this is the fastest selling Tesla model ever.

Say the car costs on average $60,000, then that’s about 666 cars. Tesla says the Model X will cost around the same as the Model S, which costs between $50,000 to $70,000. Update: Tesla says it has 500 Model X reservations.

We were at the launch last Thursday and brought you these photos, this video (also below) and this research note. The Model X is Tesla’s third car and it signals to the world that the company has bloomed into a full-fledged automaker that has a line of cars for all demographics. The car is supposed to be launched at the end of 2013, with volume sales starting in 2014.

The Model X is also Tesla’s first crossover family car, and it is an example of how one day electric cars could truly go mainstream despite the current difficulties in the EV market. A minivan — the world’s least cool car — is becoming hip, green, and sporty.

Tesla decked out Model X car with innovative design features that could attract the soccer-mom crowd. That includes the so-called falcon-wing doors that open vertically and enable passengers to stand up in the car when packing in items like kids and groceries.