Tesla Model 3 is perhaps one of the auto manufacturing firm's most anticipated car of 2016. On 21 March, Tesla released details on how to go about reserving a Model 3, to its prospective customers around the world.

Tesla Mode 3 is set to debut at a company event in California on 31 March. However, it is important to note that the car will not be launched or make its way onto the road before late 2017. In its blog post, Tesla confirmed the approximate time frame within which the automaker expects Model 3 cars to be rolled out onto roads worldwide.

Tesla said: "Along with the excitement and anticipation for Model 3, we know everyone has a few questions. Here are the details so that you know what to expect both on March 31st when reservations open and in the months ahead before you take delivery of your Model 3."

Tesla enthusiasts desiring to acquire their latest feat of engineering will have to either make their way to a Tesla store on 31 March, when reservations will officially open, or wait with bated breath until the online reservation system goes live, following the announcement, which is set to take place at 8.30pm PT (3am GMT, 1 April). However, Tesla is encouraging people to visit their stores instead of waiting for the online reservation system to get activated, warning that those who visit stores are likely to get priority over others.

"In order to be as fair as possible, there will be a different queue for each region. And as a thank you to our current owners, existing customers will get priority in each region, meaning that the fastest way to buy a Model 3 is to buy a Model S or Model X," Tesla said in a cheeky move to ramp up sales for its current models.

Prospective customers will also have to shell out $1,000 (£700) up-front to get their names listed on the waiting list.

Tesla is planning a slow and methodical rollout for the Model 3, which is slated to be launched in the US first, before making its way across the ocean to European customers. Even within the US, Tesla Model 3 will cruise on roads on the West Coast before making its way to the east, which means that the first Tesla Model 3 owners are most likely to be Californians. Production for Model 3 is slated to begin in late 2017.