Needham expects rapid decline in Tesla (TSLA) Model 3 orders

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Needham & Company are predicting orders for Model 3 Teslas to drop significantly in either of the first two quarters of 2019. The investment bank believes that, due to the lead times for those versions coming down throughout 2018, the electric car company depleted its high-end backlog. Tesla (TSLA) have indicated that new orders made up more than three-quarters of the 63,000 Model 3 deliveries in Q4 2018 but Needham fears that demand for the Model 3 will not last.