Tesla pushes back against reports on Model 3 cancellations

Customers have been cancelling orders on Tesla's Model 3 car as production ramped up — which Elon Musk promised. However, the company refuted those claims in a statement to Axios explaining that despite reports, Model 3 reservation counts were still near 420,000 at the end of the second quarter and nearly 30,000 vehicles have been delivered.

The big picture: The report claims customers are canceling their orders for a handful of reasons including extended wait times, the expiration of a $7,500 tax credit on the cars customers were promised, and the fact that the base $35,000 model of the car is not yet available for purchase. Tesla is saying these figures are incorrect.

On Twitter, Musk said the company added 7,000 new orders.

• The company also said that customers can still expect the $7,500 tax credit with the vehicle, as it doesn't expire until January 2019.

Editors note: This post has been updated to reflect a statement from Tesla on the Model 3