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Tesla Delays Launch of Model X Until Q3 2015
An anonymous reader writes "Tesla on Wednesday announced that it was pushing back the release of its highly anticipated Model X until the third quarter of 2015. Explaining the delay, Tesla relayed the following in its quarterly shareholder letter: "Work continues on the finalization of Model X with the testing of Alpha prototypes and initial builds of the first Beta prototypes. Model X powertrain development is almost complete with the early introduction of Dual Motor drive on Model S. We recently decided to build in significantly more validation testing time to achieve the best Model X possible. This will also allow for a more rapid production ramp compared to Model S in 2012." During Tesla's subsequent earnings conference call, Tesla CEO Elon Musk shed a bit more light on all things Model X, including the fact that if you order one today, it won't arrive until early 2016.
Forbes goes into more on the business end of what's caused delays for the company, as well as how investors should see it (critically, they say).
Is this on Slashdot? Tesla is a car company, their every move is not relevant
A delay is impossible, Tesla is a flawless company. Like the pope, everything they say is implicitly true, because they said it.
If the car is to be released in Q3 2015 it is because Tesla planned it that way and said that they would deliver it then. Any evidence to the contrary is false flag sheeple astroturfing by GM shills.
If this were news for jocks, every flash of flesh of the Kardashians would rate a story. This is news for nerds, so the only truly sexy, viable electric car get's the nod. NerdPorn, simple as that.
Is it just my observation, or are there way too many stupid people in the world?
"If a Tesla shows up in a movie, said Musk, the model for Tony Stark in the Ironman series, ÃoeitÃ(TM)s not paid for it to be there, itÃ(TM)s just there.Ã
Elon Musk, born June 28, 1971
Iron Man's first appearance: March 1963.
Maybe they looked at him a little bit for the movies. But calling him 'The model for Tony Stark in the Ironman series' is the silliest thing I've read all day.
Also, I gauge the odds of a Tesla showing up in a movie without someone getting paid to be low. The movie marketing people who set that sort of thing up want paid for *everything*.
Before all the "Tesla is taking over the car industry!!" hype machine kicks in on this story (as with all stories Tesla), I just want to remind everyone in Silicon Valley that Tesla is still a niche car company that's barely on the big car companies' radars.
I live in a metropolitan area of a red state and I've never even seen a Tesla in person. Not one. I'm sure they're a common sight in San Francisco but in most of the country they're still just something you just read about in Wired.
SJW's don't eliminate discrimination. They just expropriate it for themselves.
"Tesla Q3 Earnings Live: Shares Rise, Strong Outlook for '15 Even While Model X Faces More Delays"
http://www.forbes.com/sites/ma...
Tesla reported a tiny third-quarter profit of $3 million using its preferred numbers while delivering a record 7,785 Model S sedans. That resulted in a $932 million quarter, up 55% from a year ago. But results were challenged by a month-long shutdown of the company's lone production facility as it tools up for the Model X crossover SUV it is introducing next year, albeit later than planned. Gross margin also took a small hit due to changes in warranty accounting, coming in at 23%. The sum total is that Tesla lowered its outlook for 2014 production to 33,000 total deliveries, from 35,000 citing the production deficit. Investors so far have shrugged off the news, sending the stock higher after hours.
Wall Street was looking for lower revenues and a small loss. But the numbers were buoyed by very strong sales of Zero Emission Vehicle credits, which totaled a "much higher than expected" $76 million, Tesla said.
"Tesla Shows Signs It's Struggling With Manufacturing"
http://www.forbes.com/sites/mi...
Tesla Motors TSLA +5.8% reported its third quarter results Wednesday. While analysts' attention was riveted to its financials, manufacturing experts saw two signs that the company is struggling.
First, Tesla lowered its 2014 production target to 33,000 vehicles, down from its goal of 35,000. Second, Tesla pushed back the delivery date for its upcoming Model X once more, to the third quarter of 2015. ...
The announcement validates the prediction made last month by Morgan Stanley MS +0.09% analyst Adam Jonas.
One has a "hey, no biggie" tone while the other uses weasel words and literal red herrings to push "gloom and doom" scenario.
Despite obvious disregard by investors, clearly seen in the opening paragraph with Tesla's stock market tag.
I.e. "Manufacturing experts" who say that the company is "struggling" are ONE "Morgan Stanley analyst Adam Jonas".
Who, in the cited article said the following:
"Given the ever-higher level of technical and safety scrutiny facing all auto manufacturers, we find it very common for major launches to hit dealer lots later than the market anticipates," Jonas said.
Which was interpreted in TFA as:
One was that major launches are often delayed, although generally not for numerous times like Model X.
Note the slight bias?
The rest of it is in the same mode. Positive points and sentiment turned into negative.
Jonas refers to Tesla as "world's most important car company", calling the delay "an opportunity to buy" and a "silver lining".
Instead of talking about "generally numerous delays", furor, technological features not available - while dumping lines which present those things as positive.
Like " intense public interest in the product", "one of the most desirable âwhy buyâ(TM) characteristics" and the entire 4th point being a praise to Tesla.
Jonas, in his investor note, said there were four reasons he expected another delay for Model X. One was that major launches are often delayed, although generally not for numerous times like Model X. The second was that few prototypes have been spotted on the road.
Third, Tesla caused a little furor a few weeks ago, when it introduced an unexpected all-wheel drive version of the Model S, and Jonas thought the company might want to put more space between it and the Model X.Fourth, Model X is likely to be Teslaâ(TM)s most ad
Mit der Dummheit kämpfen Götter selbst vergebens
Pre-launch checks revealed a leak in a helium valve.
Look how many supposed supporters of unbridled capitalism, opt to impose state rules making entry nearly impossible via compliant state legislative acts. Could, just by chance, your state allow sales only through dealerships? If so that might partially explain your not seeing them, I know it took a very long time before hybrids were common in this area.
Also could the implicit antipathy be due to its association with belief that climate change is both real and mostly due to human sources?
Could you pull out any more strawmen?
Look how many supposed supporters of unbridled capitalism, opt to impose state rules making entry nearly impossible via compliant state legislative acts.
Care to name some? I guess I should let you off the hook as you said "supposed" but you're really trying to do some serious jackassing here so I'm going to call you out on it.
Could, just by chance, your state allow sales only through dealerships? If so that might partially explain your not seeing them, I know it took a very long time before hybrids were common in this area.
When have any hybrids ever been stopped from sales because of state law? Cite it, if you will.
Also could the implicit antipathy be due to its association with belief that climate change is both real and mostly due to human sources?
Right, because everyone driving a Tesla is a treehugging hippie and everyone who doesn't see them is a raving shill for BIG OIL!!!!
[sarc]
Wow! You're right! I see tons of Teslas at the local vegan cafe and none at the honkytonks. What an odd coincidence.
[sarc]
There are no such state rules here, but also no Tesla showrooms. In fact, in the entire southeastern U.S. there are only two Tesla showrooms, one in Atlanta and one in Nashville. Hell, I live in a city that's hours away from even the nearest charging station. And that's not a town, mind you, it's a major CITY.
So I would have to drive over 3 hours in my regular car to even see a Tesla in person. Then I would have to spend at least $70,000 for the cheapest model. And I would only be able to charge it at home and could never travel beyond beyond 130 miles from my home in it (unless I wanted to have it towed back). Realistically, how many people are going to buy a car like that? A handful of people wanting a status symbol maybe.
SJW's don't eliminate discrimination. They just expropriate it for themselves.
Objects can exist even if they aren't in your direct view, it's called object permanence.
Every company that has ever dramatically changed an industry was at one point a niche company--and I'm sure in each of those cases some jackass from a red state went out of his way to point that out.
This is fun.
At an average price of >$80K, that's >$4B dollars
At one point everything you are saying was true of gasoline automobiles. There are lots of places in the country which have a good supercharger & showroom infrastructure now, and more chargers & showrooms are showing up every month. You can drive cross-country in a Tesla right now. Obviously they are focusing on the parts of the country where people have a lot of money and don't have an irrational hatred of anything new or different--so it will be a bit of a wait for you.
If change is so unsettling for you then why do you cruise technology sites? maybe just go sit in your Ford F150 and listen to AM radio?
One thing that I was not impressed with is the access to the third row of seating. Even Elon Musk hinted his displeasure at a conference by saying he is tweaking the look and style of the back seat. One idea was to have the last row of seating optional when ordering because the area would be hard to access. I hope the door area is a little wider than in the prototype.
Because that's the car I'm buying.
-- Tigger warning: This post may contain tiggers! --
What was the 40k low end model?model E? That is the highly anticipated model. This one is a plaything for people with too much money.
sed -e 's/Chuck Norris/Rajnikant/g' joke > fact
You should all tell all your friends Tesla is doomed and you should sell all your stock immediately for whatever you can get for it.*
People want electric cars, but they can't afford the up-front costs.
*Because that will help me get very very rich, and that's the only reason the world exists, is for my benefit.
It competes against $70K+ cars from Mercedes and BMW, and it's doing very well in that segment. Sure, that's a niche market.
Tesla has plans to work their way down into more volume markets. Lots of automotive technology started out initially in luxury segments (because those segments can tolerate high capital costs associated with new technology) and then trickled down to the volume markets as the technology matured (air conditioning, automatic transmissions, fuel-injection, etc.). Tesla is following that curve and all indications are pretty good--that's what people are excited about.