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Model X Delayed until Q3 2015

Model X Delayed until Q3 2015

As an early signature holder, this is disappointing, but ultimately won't affect my decision to keep my reservation. How do the rest of you feel? Will you be abandoning your reservation? This news from latest shareholder letter.

Philip

NumberOne | November 10, 2014

Yes, the 'Alpha' prototype was completed in August. Of course the stated date is September 30, because that is the date the quarter ended. The testing of the Alpha needed to be completed before the production of the 'Beta'. The first 'Beta' is now in production, but production is slow because of various calibration/programming issues that most people with experience in manufacturing will understand. The other 'Betas' will come off the line a little more quickly.

I really hope that there will be some leaks before the end of the year because of the testing that will be going on. It was easier to keep the P80SD under wraps because of the relatively widespread ownership of Model S. Model X on the other hand does not yet exist, and it will be noticed very quickly. Either way, I would be surprised if the final production version is not shown at the NAIAS.

While I was initially1 disappointed that the Model X was delayed yet again, the delay itself serves to increase the number of improvements to everything from the drivetrain to the autopilot and other safety and convenience features.

jjs | November 10, 2014

@EternalChampion - Tesla is not perfect. If they were they would meet their announced timelines. That is part of being perfect.

@DTsea - I think you are spot on. It would would be an SEC violation to announce this to reservation holders since it could have a material impact on the price of the stock. However, it is NOT a violation to follow up on the public announcement with an email to all reservation holders. Some have ponied up $5K, some $40K. We have the right to better communication from Tesla. This has been a problem since the very beginning with them. A bunch of engineers that have poor communication skills. Go figure!

I have been an X reservation holder for, well I can't really remember. It's been that long. Sig 631. Fully expected this delay and would not be shocked to see yet another one. The X is for my wife to replace her GMC Acadia, which we traded in 6 months ago for a new Acura MDX. (Yes I expected the delays.) She loves the MDX. It is 6 months old. We trade in her car every two years. I guessing that should be just about right!

If this was not car 2.0 and so much better than anything out there Tesla would be out of business with the way they treat prospective customers. (NOTE: They treat actual customers great.)

vandacca | November 10, 2014

I listened to the 3rd Quarter conference call and I got the distinct impression that Elon was frustrated with various people (especially the media/investment community) because they were either (a) spinning his words or (b) making wild assumptions or (c) treating speculative statements as hard promises.

He seemed more concerned about choosing his words wisely than promoting Tesla on this call. He even outright refused to answer a question because he was worried that his answer would be misused.

I agree with everyone that Tesla has to provide more information to the reservation holders. However, I suspect that the reason they haven't is because of a few individuals that are misbehaving.

Red Sage ca us | November 10, 2014

It isn't that engineers find it hard to communicate... They are absolute blabbermouths and are more than happy to talk about their work. They are frustrated by the rules, policies, and procedures developed by society, lawyers, and businessmen that require them to shut the heck up.

vandacca | November 10, 2014

@Red Sage, I agree with you. In the last conference call I sensed a lot of frustration from Elon regarding the media making a lot of inaccurate statements. I think that is a big part of the reason why Tesla is being very caution with their communication. The less they say, the less information the media has to screw with.

Remnant | November 16, 2014

@ LeonardD (November 10, 2014)

<< I would be surprised if the final production version is not shown at the NAIAS. .... [T]he delay itself serves to increase the number of improvements to everything from the drive-train to the autopilot and other safety and convenience features. >>

It's not that final, if we expect "improvements to everything", or is it?

While I salute the potential improvements, I fear I'll find myself constrained to consider alternate vehicles, if the delays recur too many times without some specific notion of what's behind them, such as falcon wing doors, camera location or software, torque vectoring programs, etc, etc.

jenniferbetts5 | November 18, 2014

MX #1427 Reservation Holder. I am really upset! My current car is about to die! I was really counting on the first deliveries being early 2015 (June e-mail). I HAVE TO get a new car before the X is out. Perhaps Tesla could offer X Reservation Holders below a certain number a 1 Year Lease on an S so we will not have spent all the money we have saved to pay cash for the X on another car. This is very disappointing. Any ideas for me? I don't want to give up my awesome place in line, but I need a car sooner than 3Q2015, which I am sure will be extended to 2016, then 2017, etc. Given they have been earning interest on our deposits all this time, wouldn't it just be fair? It is starting to border on misrepresentation as the car we put a deposit on to be delivered by a certain date has morphed into something entirely different. Yes, much better, but different all the same. (ie. I don't need tow capacity, yet I have apparently been forced to wait so tow capacity can be engineered and added in.) Just being able to get your money back does not rectify what is becoming closer and closer to real misrepresentation. (And I AM a lawyer.)

vandacca | November 18, 2014

@jennifer, if you are upset with Tesla, the strongest statement you can make is to request your deposit back. If enough people do this, then it will send a clear message.

However, I doubt that this recent delay will result in very many customers asking for their deposits. And there is no indication that "towing" had anything to do with any of the delays. In fact, towing was implied from the start (that's why I switched my reservation from Model-S to Model-X). There really isn't much to design with regards to towing, so I would be very surprised if it played any part in the delay.

On the other hand, the Falcon Wing Doors (FWD) likely was a significant part of this latest delay.

james | November 18, 2014

Tell you what, if there was a "lease an S for a year while you wait for your X" option I'd bite their hand off.

NumberOne | November 18, 2014

@Jennifer. My reservation number is close to yours, and I hope for delivery by the end of August, although it is pure speculation.

One thing you could try is to look for a short term lease on lease trader. I have a friend who just passed his lease to someone else because he wanted to get out of his lease 8 months early. You could look for a one year lease that may not cost too much. My friend had a BMW X5 that was lest than $600 per month. I have never leased a car because I consider it a waste of money, but I had to replace my car or spend $5k to fix it, I would do the lease. If the car needs up to $2k for the repairs, I would just go ahead and do that. Hopefully you could still get something for your current car which would help defray the cost of the lease a little, or enough to defray the cost of the repairs if you keep the car until your Model X arrives.

The way I look at it is that I will have my Model X in 12 months or less. I am so confident in the fact that I will get the car, that I had the HPWC installed some time ago, so I will have to continue explaining the 0 reading on my EV charging meter from my power company until the car comes.

I really look forward to getting my car, but I fully understand how you feel.

paradis | November 18, 2014

@Jennifer

I'm in a similar situation in that my lease is up in April and BMW won't extend it. One attractive option I'm looking at is buying out an existing lease on an inexpensive car for the length of time I think I'll need (if Tesla doesn't push it back again). There are several websites that can arrange the lease transfer. Just do your homework on the hidden costs (transfer fees from the lessor, lease end fees, damage on the car, etc.). As an example, a Maxima was offered on a 7 month remainder lease at $321 per month. Google "short term auto lease" and you'll see the websites and an explanation of how it works.

jenniferbetts5 | November 19, 2014

@paradis

Thanks for suggestion. Tesla deleted my post after you obviously read it. Thanks again.

jenniferbetts5 | November 19, 2014

No, I was wrong. Found my post. Thanks to LeonardD as well. Maybe we could start a forum on Model S for anyone who is getting their S now who still has a lease they need to get rid of.

Red Sage ca us | November 19, 2014

jennifer wrote, "MX #1427 Reservation Holder. ... It is starting to border on misrepresentation as the car we put a deposit on to be delivered by a certain date has morphed into something entirely different."

Whoa. You paid for a reservation, a place in line, one you don't want to give up, that gives you a right to purchase or refuse to purchase a vehicle upon its release. Tesla Motors announced a projected time frame for that release, which they missed a year ago. They have since extended that to what may be as early as July 2015 or as late as September 2015. You may choose to continue waiting, or request a refund, just as you could have done at any point since you first got the reservation. Given that choice, you have no grounds to sue for damages of any sort. You can always buy a nice Porsche Cayenne, AUDI Q7, or Volkswagen Touareg instead. Tesla is not likely to sue you for buying something else. That would be unreasonable. Even I know that, and I'm a barbarian, not a lawyer.

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jwm2e

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