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Purchased Full Self Driving today

Purchased Full Self Driving today

I purchased the FSD upgrade for my Model 3 this morning. Later in the day Tesla called me to confirm that the upgrade was complete. My question is, how do I initiate the enhanced summon? It doesn't appear that Summon in my Tesla app has changed at all, there is only forward and reverse. Is Enhanced Summon something that is only currently available to special beta testers?

Joshan | 15 augusti 2019

there is no enhanced summon yet, it comes with V10 release

aaron.shaffer | 15 augusti 2019

Ah ok. So all those demos of Enhanced Summon on youtube, those aren't normal people with regular software updates like me -- they are early beta testers or employees? I did not realize that.

jebinc | 15 augusti 2019

@aaron.shaffer - Those videos are from those in the Tesla EAP program. You also can't believe what's on the Tesla ordering page as it leads one to believe is available now, "REALLY!" It's not and there's no firm date on that either.

Joshan | 15 augusti 2019

Elon said V10 will be in August, so likely sometime in October :P

aaron.shaffer | 15 augusti 2019

Ok, well that doesn't surprise me too much and I'm ok with that. I just bought it today because the price is going up tomorrow, but I can wait for the v10 release.

Joshan | 15 augusti 2019

you and me both!!!!!

jebinc | 15 augusti 2019

@aaron.shaffer - I will bet you two dozen donuts the price doesn't go up tomorrow, or anytime soon (until real functionality is released). I surmise that was all hype to boost cash flow for Tesla (buy FSD now or you'll be sorry, etc.) Time will tell... Actually, tomorrow will tell! ;-)

Joshan | 15 augusti 2019

they do not recognize FSD money yet, so it does not help cashflow.

Joshan | 15 augusti 2019

just so I don't get yelled at for making shiz up...

www.detroitnews.com/story/business/autos/mobility/2019/08/12/tesla-incen...

EVRider | 15 augusti 2019

There's no guarantee that Enhanced Summon will make it into the first V10 release. If Tesla doesn't feel Enhanced Summon is ready for prime time but they have other stuff in V10 they want to release, they'll release it without Enhanced Summon (they've done things like that before).

I'm not betting on seeing V10 this month, without or without Enhanced Summon, but I'm in no rush either -- when it comes, it comes.

EVRider | 15 augusti 2019

@Joshan: Tesla mentioned on the earnings call that they can't claim all the FSD revenue until they deliver, but I think they might be able to claim some of it. When they replaced EAP (Enhanced Autopilot) with the new basic AP, the FSD option started providing some immediate value because it included functionality not included in basic AP, so maybe they were able to claim more of the FSD revenue when they did that. I've wondered if that's the primary reason they made that change.

Joshan | 15 augusti 2019

well that article says they cant. Please show a source or its all conjecture.

Joshan | 15 augusti 2019

FYI that article is only 4 days old.

EVRider | 15 augusti 2019

@Joshan: Here's what the article says about the deferred revenue:

"As of the second quarter, Tesla listed $1.18 billion in deferred revenue. The company doesn’t break out how much of that is for FSD. But if Electrek’s estimate is correct, then more than 200,000 car buyers have paid somewhere from $600 million to more than $1 billion for the option."

Where does that say Tesla can't claim any FSD revenue now? I'm not saying I know for a fact that they are doing so, but I don't know that they're not (and neither do you). I thought I heard something to that effect on the earnings call, but it's not in the shareholder letter and I'm not going to listen to the earnings call again.

In any case, whether or not they get any revenue from FSD now, they'll get more when they actually deliver some full self driving capability.

BMore710 | 15 augusti 2019

@jebinc

I wa speaking to a rep at a service center earlier this morning and he confirmed that FSD will increase by $1000 tomorrow...

Also, why would think they’re not going to raise the price when they had just done earlier in the summer?

Joshan | 15 augusti 2019

I guess they are up 1.5 billion in deferred cash now wow...

Tesla Current Deferred Revenue : $1,514 Mil (As of Jun. 2019)
Current Deferred Revenue represents collections of cash or other assets related to revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. It can be either current or non-current item. Also called unearned revenue.

Tesla's current deferred revenue for the quarter that ended in Jun. 2019 was $1,514 Mil

FISHEV | 15 augusti 2019

"...they'll get more when they actually deliver some full self driving capability."EVRider

They've been trying to deliver the Enhanced Autopilot and Full Self Driving since 2016 and lost the lawsuit about it in 2018. Tesla only had to settle for $5M total and a few hundred to the Tesla buyers who still don't have FSD despite paying $5-$8k for it up to three years ago.

Initial part of the lawsuit was more interesting as it made the claim that AP was "non-functional" and "inherently dangerous" which is fair to say applies to braking issues with adaptive cruise, non-working lane keeping, non working blind side indicators all having basic functionality issues.

jebinc | 15 augusti 2019

Hello @BMore710 - I said what I said because I believe Musk’s statement, (made last month) about the 8/16 price increase, was made for one of the following reasons:
a) To boost FSD sales for July and part of August, or
b) Was tied to an assumed (incorrectly) release of new FSD functionality, like enhanced summon.

“b” isn’t going to happen tomorrow, so that leaves “a”.

I never figured they would raise it again without substance. That trick only works once in my opinion.

carlk | 15 augusti 2019

Tesla will synchronize FSD price increase with significant capability improvement even though timing of neither is a sure thing. Just buy it if you feel like to, or not if you don't. You'll not win by gaming/timing it.

Joshan | 15 augusti 2019

Fish decided to pull more of his "wisdom" for us all from his arse.

CharleyBC | 15 augusti 2019

" I will bet you two dozen donuts the price doesn't go up tomorrow"

I dunno. When they dropped it to $2K several months ago, that deal ended as described. You may be buying donuts!

jebinc | 15 augusti 2019

@CharleyBC - Alright, Bro, you're on!

jebinc | 15 augusti 2019

^^^ Assume I lose the donut bet (not), but let's say I did... isn't it amazing that a price increase is one of the only things they can complete on schedule and as advertised?! ;-)

zoeism | 15 augusti 2019

A co worker purchased M3 without the FSD early this year. In March she received an email on purchasing FSD for $2k. I just ordered M3 with FSD for $6k but I am debating whether I should cancel the FSD and wait for the email from Tesla offering FSD at a discounted price. Any suggestions?

EVRider | 15 augusti 2019

@FISHEV: The lawsuit and settlement you’re referring to wasn’t about FSD, it was about EAP, specifically about the fact that it took a lot longer than Tesla promised for EAP to work as well as the previous generation AP1. Fortunately I had AP1 during that time. :-)

EVRider | 15 augusti 2019

@zoeism: When FSD was briefly offered for $2,000, I’m not aware of anyone else who received an e-mail about it, and plenty of people complained about the fact that they didn’t. The current $3,000 FSD offer is only for people who already paid for EAP, and if you’re not one of them, you won’t get a break. The $6,000 you paid will probably be $7,000 tomorrow.

zoeism | 15 augusti 2019

@EVRider: Thank you!

EVRider | 15 augusti 2019

@Joshan: I found a transcript of the Q2 earnings call, and here’s what I remember hearing:

“Note that we continue to defer a significant portion of revenue associated with full self driving, which will be recognized in future periods. Upon the release of additional features. Operating expenses, net of restructuring continues to improve as well, despite the increases in volume, reflecting the amends focus on improving our operating efficiency. And while operating expenses and capital expenses may appear to be a naturally low this quarter, that's not the case, rather these reflect continued progress on cost efficiency and ability to scale our core technologies and processes.”

I interpret “significant portion” to mean less than 100%.

The full transcript is here: https://www.fool.com/earnings/call-transcripts/2019/07/24/tesla-inc-tsla...

Joshan | 15 augusti 2019

Thanks @EVRider

Helps, but still cloudy.
They have some cash they cannot spend yet (about 1.5 billion) and we know "some" is from FSD sales, but who knows how much of that is from what product. I imagine stock holders can get that info.

TeslaMarque | 15 augusti 2019

This just has to do with accounting and balance sheet stuff. It’s not like Tesla puts all the money it collects from FSD into an account and they can’t touch it until they release the features. They can’t realize the revenue on their balance sheet until they deliver the product, but it has no bearing on how much free cash flow they have. They can use the cash as soon as they make the sale, which is why they cut the price to $2,000 earlier this year and made a LOT of sales during this time, myself included.

I will never understand how they can raise and lower the price for a product they haven’t delivered yet, but that is beyond what I do.

EVRider | 15 augusti 2019

@TeslaMarque: Correct, just like all those Model 3 reservation deposits. No recognized revenue until the car is sold, but plenty of cash to play with in the meantime. That’s why some of us paid for FSD before it had any real benefit (to us).

goodman | 15 augusti 2019

I purchased the upgrade just now. 8:22pm PDT I had to reload the page about ten times. I was getting either "no upgrades available at this time" or "access denied" But eventually I was able to access the upgrade page and complete the transaction.

jebinc | 15 augusti 2019

I can’t wait until tomorrow is over, to see if the price of FSD really goes up - or if that was all hype to boost FSD sales. I bought FSD back in June, so I’m not saying you shouldn’t have. Just anxious to see if the BS meter pegs tomorrow or not. All the best and happy AP’ing!

GODOFTHUNDER | 15 augusti 2019

@goodman I have been trying for the last few hours and am getting the same messages, tried several different good cards. Must be a busy night..

Sgwebb.us | 15 augusti 2019

I just purchased today as well, (EAP to FSD) I am sure the price will go up in the future it was a 6k upgrade before the drop. I am also expecting V10 to be like early EAP on city streets (no navigate on auto pilot) where it will stop at stop lights and stop signs and lane change with turn signals, I think true FSD is probably longer off maybe 1-2 years.

JustSaying | 15 augusti 2019

Cash collected related to FSD deferred revenue can be spent on anything it is free and not restricted. It is an IOU or an account payable with no due date.
I am OK with helping fund FSD development.
Next win, Just get the FSD freeway trip portion perfected/bullet proof and I would consider it a Wow.
For now, I'll take it from the on and off ramps.

coselectric | 16 augusti 2019

I took the plunge yesterday and added FSD. I love EAP, but I figured that at some point EAP will probably become an orphan feature set, and I'm just having too much fun trying out updates as they come and didn't want to get left out in the future.

My 15-year-old has his permit but has been dragging his heels getting driving hours in. When I told him I bought FSD for the Tesla, his response was classic: "so does this mean I don't have to learn how to drive after all?"

MartyBlue | 16 augusti 2019

EAP since purchase last November. Debated all week whether to upgrade thinking the 16th was the last day before increase. Reread email this morning that says "... will increase on August 16". Said Crap! Went in to see what the new price is and hmm, still $3k. This was the shove I needed to do it. Happy to say I'm the proud owner of FSD!!

jebinc | 16 augusti 2019

@CharleyBC - Mmmmm, yum, those virtual donuts are tasting really good right now!
@BMore710 - Perhaps you can call that service advisor that told you FSD would be going up $1000 - to see why it didn't?

All: Seriously, did anyone really think the price was going to go up today, based on a Musk tweet from July? Without releasing any real FSD functionality, along with the price increase, it sure seems like that July tweet was just to help boost FSD sales as everyone would "run and buy" just to beat an artificial deadline... I guess I could still be proven wrong, as there are a few hours left in the Tesla business day....

jimglas | 16 augusti 2019

Price will go up in Elon Time
E orly
L ate
O r
N ever

kaushal | 16 augusti 2019

It will be really funny if Tesla drops FSD prices tomorrow, people who bought during this “sale” would start so many entertaining threads.

francisreeves | 16 augusti 2019

I can't believe the nagativity of you guys, have you not worked in production! I am amazed and pleased that Tesle tell us what to expect and to have a CEO that lets us know what he expects, predicts and thinks. As an Australian and son of a US Marine I have enjoyed six wonderful years of S ownership and look forward my 3 soon!!

Lonestar10_1999 | 16 augusti 2019

Waiting for Tesla’s rumored price changes reminds me of doomsday cults waiting for the Hale Bopp comet to destroy the earth.

woster402 | 16 augusti 2019

Just added FSD. Tomorrow will tell how much of a sucker I am. :)

woster402 | 16 augusti 2019

Just added FSD. Tomorrow will tell how much of a sucker I am. :)

Mikael13 | 16 augusti 2019

The real question is......

Where should will we meet for the donuts @jebinc? Bring your own coffee though, right? ;-)

I skipped the 6k for FSD. I’m sure it’ll increase to 7k again (or more) but I cannot justify such an amount at this time.

Nicktoledo | 17 augusti 2019

Do you guys know if ordering the model Y with FSD locks in the price at 6k? I am assuming it has to, otherwise you could lose a lot of people on the waitlist if the cost became prohibitive as it rises, this of course assuming best case scenario in which robotaxi network comes online on time. Again, I am assuming when you make the deposit you are agreeing to the cost at the time of configure and not future potential cost.

Nicktoledo | 17 augusti 2019

Update; I read the Pre-Order Agreement doc and it appears as though the only price change will/can be the taxes and gov't fees.

adamhenry552 | 17 augusti 2019

Congrats on it.

3500HDP3D | 17 augusti 2019

I probably waisted 3K, just like when I bought a 32” Sony plasma for $4500 years ago! Just watched a Waymo video, they are way ahead of Tesla it seems. I’m probably going to throw more $ at the car just the Sony that had a $800 repair bill.

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