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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

finished | 05. november 2014

I just read it too. A little disappointing, but I can certainly wait for it. I'm not cancelling or moving to MS unless the price of the MX scares me.

dc661 | 05. november 2014

Very disappointing but not totally unexpected i guess. Didn't this happen with MS too?

Curious to see what Elon has to say in the earnings conference coming up shortly.

http://onforb.es/1pmV7ky

WSC | 05. november 2014

Very disappointed!!! Reserved the X back in Feb 2012. By the time it's ready for delivery all my kids will be out of the house, and won't really need such a large car. I may just drive my S until Model 3 comes out.

Webcrawler | 05. november 2014

It was disappointing to me that the Model X is still over a year away now....

I think they need to give up on the Falcon Doors which I believe are the issue...

dortor | 05. november 2014

grrrrrrr…

aljjr2 | 05. november 2014

Unfortunate, disappointing. But in the final analysis, it is a mover from 2nd quarter to 3rd.

Still committed to the Model X, but will give me time the evaluate the 2016 Audi Q7 and the upcoming Q8 Electric Vehicle.

Red Sage ca us | 05. november 2014

"In anticipation of this effort, we now expect Model X deliveries to start in Q3 of 2015, a few months later than previously expected. This also is a legitimate criticism of Tesla – we prefer to forgo revenue, rather than bring a product to market that does not delight customers. Doing so negatively affects the short term, but positively affects the long term. There are many other companies that do not follow this philosophy that may be a more attractive home for investor capital. Tesla is not going to change." -- Tesla Motors

Meh.

NumberOne | 05. november 2014

While it is not completely surprising, I can and will wait, and April to July is not really that much of a difference. At this point I hope to have mine by August.

NumberOne | 05. november 2014

About 28 min into the call, Elon mentions that there is a 'beta' is actually being produced. He also said that the want to make a significant number i.e. 100 or more to make certain there are no problems. I guess those will all be betas, which will end up in galleries/stores. I think we will see the beta, which is essentially the production version either before the end of the year, or at the NAIAS in January.

woohoo | 05. november 2014

I am unhappy but not surprised. On the fence about my plans, I guess I continue to wait and keep my eyes open at other manufactures. I am not a current tesla owner so my only experience has been only on the "waitlist," but I think TM's communication on the MX overall has been poor. I have to laugh that I need to listen to shareholders meetings to find out when I may maybe, possibly receive my car... let alone see a beta model...

ronmerkord | 05. november 2014

While disappointing, we are certainly keeping our reservation. It just reconfirms my belief that the car is going to be absolutely amazing, well worth waiting for.

Besides, as my wife points out, it just gives us more time to save up money to be able to pay for it :-)

Ron
SigX #1015

Iowa92x | 05. november 2014

Implication is the Gen 3 will likely shift later with the X delay. I may just bite the bullet and buy an S D now to get it over with.

georgehawley.fl.us | 05. november 2014

Not surprised.
Elon has been telling everyone all along about the development/manufacturing challenges in building the X.
People just don't want to hear that. The good news is that the dual drive unit operation will be thoroughly in hand by the time the X rolls off the assembly line. Thank you MS D. The Internet will be full of Beta sightings. I'm still expecting my X in 3Q15.

I don't mind the wait. (That is a lie.)

georgehawley.fl.us | 05. november 2014

Hey, I just punched in the wrong captcha code and my drivel got posted anyway???

aljjr2 | 05. november 2014

Well.... "it's is going to be a truly amazing vehicle, unlike nothing on the road" is the constant theme.

Good things come to those who wait, wait, wait.

rossRallen | 05. november 2014

With my Sig #508 reservation since June '13, I'm more than a little disappointed and ANNOYED.

The delivery date was first stated to be in 2014, then "the first of 2015", now another 10 - 12 months in Q3 2105. This is not the way to do it. Sure, I want "a flawless diamond" in Elon Musk's words, but how long will I have to wait and be baited by delivery dates that recede to infinity faster than real time?

I think the paying ($40,000 in my case) Model X reservation holders should be treated to information before a bunch of stock market "analysts" - read vultures.

Not happy.

Remnant | 05. november 2014

@ ronmerkord (November 5, 2014)

<< ... the car is going to be absolutely amazing, well worth waiting for. >>

However, to enable a little bit of planning despite this delay, perhaps some defining of amazing and a rough price estimate are in order.

For example, will the production MX have rearview cameras, as indicated by the website pictures?

Will it perhaps have a battery with a larger power density, a longer range, a faster recharge?

Will it maybe have a stronger or more efficient power train, a lighter body, included options, etc.?

In other words, is there anything that can define or specify this amazing in order to motivate the people who reserved MX's to wait rather than drift onto other choices for their next vehicle?

Iowa92x | 05. november 2014

I am selling some Tesla stock tomorrow. Lately, Tesla has not been in beast mode. I will buy again once the giga factory and X spool up.

MX Pete@QC.Canada | 05. november 2014

I somewhat expected this, reserved my MX Sept 2014 (#767 in Montréal, Canada) and always thought my delivery would be in 2016. I was thinking Q2 2016, I'll gladly take delivery if it ends up Q4 2015, we'll see. Now I need to get rid of my CUV lease this Spring and get a temporary car.

modelx2015 | 05. november 2014

I am disappointed by this news. We haven't even been given the complete specs of the vehicle or a picture of what the production vehicle will look like. Not canceling my reservation but this will give me a chance to check out the new Audi Q7 in the meantime. Come on Tesla update your reserve holders!!!!!!!!

chris | 05. november 2014

I was anticipating this announcement for a week to decide whether to wait or, purchase a Porsche Macan. Within that week, my local Tesla showroom (Toronto) offered me $27,000 off a demo Model S.

I am going for it but now my debate is whether to cancel the Model X reservation or, stay in line so I can trade up when my 3-year lease is over.

That $5,000 deposit would help with my payments. :-/

Brian H | 06. november 2014

The perfect is the enemy of the good.

rapnjoe | 06. november 2014

Reservation #6715 not cancelling, In my case this will actually work out well for me as my Leaf Lease ends August 15, Model X will be Epic. Now it looks as my delivery will be be 3rd week September. Tesla if your Listening my Wish for my Model X is a shift lever like the Toyota Rav 4 EV has for increasing regen Braking on the fly. If anyone else here is like me and is currently in a Leaf or has driven other EV's will know what I'm talking about, when I want to coast I like to let off the gas pedal relax my foot and have very little regen then when braking is needed I love the feel of being able to pull pack on the shift braking lever to slow down as needed the more you pull the higher the regen.

vperl | 06. november 2014

Not happy camper, all of 2015 will go by..... No X

Not a Happy Camper.

vandacca | 06. november 2014

Reservation #008 Canada. Going to wait for the X. Not too happy, but also not too surprised.

dave.rauschkolb | 06. november 2014

Awww. My 3 year lease on my X5BMW was scheduled to end about the time the X was first supposed to be released. Turned in the X5 4 months ago. We are making due with our Sig Model S85KW and our "old" Nissan Leaf just fine. The Leaf will have to be kicked to the curb when our X is delivered though.

Could not be happier with my S.

davediep | 06. november 2014

It's been delayed several times already. Definitely not happy but will wait.
Sig #202

georgehawley.fl.us | 06. november 2014

We had better be really AMAZED and DELIGHTED. One more slip and I for one am going to start a movement to call them on the carpet. I wish I had been smart enough in days of yore to be able to wave away repeated schedule slips with "we are slipping a few months again because we want customers to be delighted. If you don't like it, sell your stock and go away..." To paraphrase the 3Q report. I would have been fired in a heartbeat.

There is over $100 million in reservation money in the Tesla piggy bank and we keep getting the mushroom treatment.

Or I'll just keep making inane posts that much longer. If there were only a way Elon could be forced to read this stuff. He'd change his tune soon enough. "Speed up production of the model X or you will be forced to read all of George Hawley's posts." Twice, if you slip again. Now there's a threat.

vandacca | 06. november 2014

@georgehawley, if Elon is forced to read all your posts, then the schedule will definitely slip again! ;)

georgehawley.fl.us | 06. november 2014

Ugh. I can't win.

EternalChampion | 06. november 2014

Perfect sets Tesla apart. If you want good, buy a mass market Camry or Accord.

aljjr2 | 06. november 2014

Let's all hope there is at least a "launch" of the final version sometime early next near. Seeing a beta will help past the time and reset expectations.

Red Sage ca us | 07. november 2014

Doors: No, those are done.

Mirrors: Probably an issue still.

Battery: Not likely, but would be very nice.

Brian H | 07. november 2014

dave.r;
Can you make do with your S until TM makes the X due? Don't get too dewy.

vandacca | 07. november 2014

@Brian H, water dewed in my eyes as I read your last post. It's your "can-do" attitude and due-diligence that keeps the grammar and spelling in this forum in check. I hope you'll get your full dues one day for all your hard work. Do keep up the great work, Dude!

vandacca | 07. november 2014

@Brian H, water dewed in my eyes as I read your last post. It's your "can-do" attitude and due-diligence that keeps the grammar and spelling in this forum in check. I hope you'll get your full dues one day for all your hard work. Do keep up the great work, Dude!

alvaro.begue | 07. november 2014

It's bad enough that we reservation holders had to learn about the delay from the news, but it's worse than that: I just got a "Latest Updates from Tesla" email and there is no mention of the delay at all. Really?

Delivering a wonderful product is great, but there is value in estimating your delivery times correctly and keeping your customers informed.

Remnant | 07. november 2014

@ Red Sage.ca.us (November 7, 2014)

<< Mirrors: Probably an issue still. >>

If mirrors are still require at roll-out time, Tesla should supply a fully functional camera system along with the mirrors.

The mirrors can easily be removed subsequently, if they have different locations from the cameras.

kotcar | 07. november 2014

This works out good for me because the supercharging station we need isn't expected to be built until 2015.... and I don't know if the schedule for these stations has changed from what is on the web.

aljjr2 | 07. november 2014

Now I will have to replace the tires on my Audi Q7. Was hoping to have it sold in the next couple of months. It also seems I will now have to pay the Ad Valorem Tax before I have an X.... sigh.

danny | 07. november 2014

On news of the Model X delay, I purchased our _second_ Leaf today. Not willing to buy a Model S, only to sell in a year.

I'll keep my very early signature reservation for the Model X, but there is money on the table for an SUV BEV. Tick-Tock.

Agreed, it need to beat the pants off the competition. If not ready yet, the delay is the right call.

The Leaf is not the same as a Model S, but it is BEV, half the price, gets 30% better economy at 232Wh/mi, and works with ChaDeMo (today).

If the X really ships next year, the one-year depreciation on the leaf will be more affordable than an S.

I need an SUV. Must be BEV.

babstude | 08. november 2014

Is there some type of mailing list you guys joined? I have the flag checked in my profile to receive updates but have not received squat other than my original order confirmation.

DTsea | 08. november 2014

Probably illegal for tesla to inform customers of a material change to delivery timing before making it public. Securities law.

Those 'sharks' ie stockholders OWN the company. It's THEIRS and they have rights.

Remnant | 09. november 2014

@ Red Sage.ca.us (November 7, 2014)

<< Mirrors: Probably an issue still. >>

Just a couple of follow-up comments to my post of two days ago.

It seems the side cameras should not be a problem or a reason for delays at all.

The funny thing though is that, on the website, Tesla positioned the MX side cameras as direct substitutes for the mirrors, at the very same location in the lower front angles of the side windows, as if the images they supply would appear on their very bodies, like those of the mirrors themselves.

In fact, though, the side camera needs to be positioned for the best viewing of the side and rear of the vehicle, not for direct visibility to the driver, since the image it provides is wired to the dashboard and can be positioned for the driver's convenience, inside rather than outside the car.

It seems obvious that the best location for a side-camera is under the front fender, behind a transparent pane of glass or plastic mounted flush with the fender surface (an alternate location in Tesla would be behind the logo plate).

In this way, the side-camera does not compete with the side-mirror for the location, which means the car can have both mirrors and cameras, at least temporarily, that is, until the regulations no longer require mirrors, at which point they can be removed.

Brian H | 09. november 2014

Yeah, meant to mention the "material developments" clauses in the forward-looking disavowal of responsibility to update in the financials' boiler-plate. It's for real.

vanducca;
glad you feel I did do'd good! ;)

georgehawley.fl.us | 09. november 2014

@Red Sage: mirror under a fender behind a glass or plastic plate? On a rainy or otherwise sloppy day the image would soon disappear unless I misunderstand. How about having a mirror with a camera built into the mirror post or into the mirror itself? The photo images could be presented in the dash. Driver's choice:mirrors or cameras. No regulatory problem. When cameras get regulatory clearance, new builds can have two options:mirrors + cameras or just cameras. Camera only option can be designed so that, if a person buys a used Tesla with mirrors + cameras, they can pay for a retrofit of cameras only. One wire harness serves all options. In fact they could build the wiring in now, if they have a future place in mind for the cameras to terminate on.

sg021.pa.us | 10. november 2014

There are already some vehicles with cameras built into the side view mirror. The image from that location seems fine.

Honda Odyssey side view camera

Remnant | 10. november 2014

@ georgehawley.fl.us (November 9, 2014)

<< How about having a mirror with a camera built into the mirror post or into the mirror itself? >>

Because the main purpose of replacing the side mirrors with cameras appears to be the aerodynamic advantage (5-7% drag reduction, they say), the mirrors should be easy to discard without compromising the cameras.

A weather-proof location for the cameras would be under the front fender Tesla logo plates, which is also a much better rearview angle than the side window sill.

vandacca | 10. november 2014

+1 @georgehawley, that would be an elegant solution. Hopefully with this added production delay, US mirror laws will have time to change and we can finally do away with those ugly dumbo ears on the Model-X. I just hope that the same will hold true for Canada. Does anyone know if Canada has the same mirror laws?

georgehawley.fl.us | 10. november 2014

Did everyone but me know that the Model X Alpha prototype has been completed?
I see that Elon earned some stock options for that accomplishment in the past quarter, according to the 10q report:

CEO incentives:

In August 2012, our Board of Directors granted 5,274,901 stock options to our CEO (2012 CEO Grant). The 2012 CEO Grant consists of ten vesting tranches with a vesting schedule based entirely on the attainment of both performance conditions and market conditions, assuming continued employment and service to us through each vesting date.
Each of the ten vesting tranches requires a combination of one of the ten pre-determined performance milestones and an incremental increase in our market capitalization of $4.0 billion, as compared to the initial market capitalization of $3.2 billion measured at the time of the 2012 CEO Grant.
As of September 30, 2014, the market conditions for six vesting tranches and the following performance milestone were achieved:

• Successful completion of the Model X Alpha Prototype.
As of September 30, 2014, the following three performance milestones were considered probable of achievement:

• Successful completion of the Model X Beta Prototype;

• Completion of the first Model X Production Vehicle; and

• Successful completion of the Model 3 Alpha Prototype.
For the three and nine months ended September 30, 2014, we recorded stock-based compensation expense of $3.8 million and $18.2 million, respectively. For the three and nine months ended September 30, 2013, we recorded stock-based compensation expense of $3.6 million and $8.8 million, respectively.
No cash compensation has been received by our CEO for his services to the company.

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