Tesla finally opens Model 3 orders to buyers in the US and Canada (although you'll still have to wait five months to get your car)

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Tesla has begun accepting orders from buyers in the US and Canada for its highly-anticipated Model 3 sedan. 

It means that consumers are no longer required to put down a $1,000 deposit in order to get their hands on the company's first affordable all-electric sedan. 

Buyers can now purchase a Model 3 through Tesla's website - but there are some caveats.

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Tesla has begun accepting orders from buyers in the US and Canada for its highly-anticipated Model 3 sedan. It means that interested buyers no longer have to put down a $1,000 deposit

The only Model 3 version available for immediate order through Tesla's website is the high-end version, which includes a long-range battery and starts at $49,000.  

Meanwhile, the $35,000 base model will become available in six to nine months. 

Buyers can still choose from a range of other features, like all-wheel drive, Autopilot and the Performance option.

Tesla is also expected to prioritize orders from reservation holders.

Early on, Tesla set up a reservation system as a way to gauge demand for the Model 3. 

The firm had 420,000 Model 3s reserved as of July 2nd, an SEC filing indicated, according to the Verge. 

The only Model 3 version available for immediate order through Tesla's website is the high-end version, which includes a long-range battery and starts at $49,000

The move comes as Elon Musk's (pictured) electric car company has struggled to hit internal targets for the Model 3 as it endured 'production hell' throughout most of last year

Additionally, the filing indicated that Tesla has delivered 28,386 Model 3s. 

Both reservation holders and new buyers will have to pay a deposit between $2,500 and $3,5000 in order for Tesla to begin production on their vehicles. 

Tesla also weighs factors like when the order was placed, the car's features and its delivery location when determining how quickly it will be delivered, CNBC noted. 

The move comes as Elon Musk's electric car company has struggled to hit internal targets for the Model 3 as it endured 'production hell' throughout most of last year. 

Slowed production largely stemmed from Tesla's efforts to automate the production process, with Musk eventually conceding that wasn't the best idea. 

Tesla also grappled with issues related to the safety of the Model 3, with several fatal crashes occurring in the last few months, prompting oversight from federal agencies. 

Both reservation holders and new buyers will have to pay a deposit between $2,500 and $3,5000 in order for Tesla to begin production on their Model 3s (pictured)

The Model 3 is also crucial to Tesla's future and its goal of finally achieving profitability. 

However, in a major milestone for the company, Tesla announced last week that it had achieved its goal of producing 5,000 Model 3s each week. 

In an email sent to employees, Musk also said the firm was building a combined 2,000 Model S sedans and Model X crossover SUVs, which increased production to 7,000 vehicles per week. 

'We did it!' Elon Musk, who is also CEO of Space X and The Boring Company, wrote in an email to Tesla employees. 'What an incredible job by an amazing team.'