Elon Musk has confirmed on Twitter that the first 12 months of the Tesla Model 3 production is sold out. This comes after an article written by Fortune Magazine reported that new Model 3 reservations won't arrive until mid-2018 at the earliest.

Till date, there has been no official date on when production will commence but it is expected to see first units of the entry-level electric model to reach customer's hands in the second half of 2017. The car has proven to be very popular, with reservations now estimated to exceed the 400,000 unit mark.

When the car goes on sale, it is promised to be able to hit 0-100km/h in under 6 seconds and will have a range of 346km.