Tesla Motors is starting to ship the long awaited Model X SUV next month, but the company lowers the sales target for they year. Stock sharply drops in after-hours.
Elon Musk announced the Tesla Motors Q2 earnings numbers yesterday. The good news is that the long-awaited Tesla Model X SUV is starting to ship in September. Launching a new product usually means higher sales, but not in this case.
The launch of the Model X will be rather slow. In Q3 only a low number of the predicted 12,000 cars Tesla will deliver will be Model X. Musk lowered the car delivery target for 2015 from 55,000 to 50,000 to 55,000. This sent the Tesla stock down 9% in after-hours.
In the earnings call Elon Musk said that the plant has to be shut for a week to prepare production of the Model X. In a surprising revelation Musk details with the rear seats in the Model X that has a negative impact on ramping up production. A seat? Really. Musk said in the call: “It’s an amazing seat, a sculptural work of art, but a very tricky thing to get right.” Looking forward to sit in this "amazing seat."
Below are photos showing the Model X rear seats from front and back. They look like mixture between luxury and sport seats. These seats indeed appear to be very complicated.
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Elon Musk says that the Model X is an amazing car and will blow people away. The Model X certainly is a unique car. It has cross-wing doors, 4-wheel-drive and seats 7. The Model X configuration tool supposed to launch in a couple of weeks. It will though take until 2016 to receive a Model X when ordering now.