Autopilot lane keeping still not available over 6 months after delivery

[wk057]

From today's shareholder letter:

For example, these updates will significantly increase Autopilot functionality in properly equipped cars later this year by adding new features such as lane keeping with automatic steering, parallel parking, as well as side collision warning and improved traffic aware cruise control.

Q2 Automotive gross margin excluding ZEV credits was 23.9% on a non-GAAP basis and 22.9% on a GAAP basis. Non-GAAP gross margin was about 100 basis points below guidance, primarily due to higher manufacturing and part costs related to the ramp of our small drive unit line and the deferral of revenue recognition for certain Autopilot features which are now scheduled for release later this year.

*quietly fuming*

 

[Max*]

From todays shareholder letter:

For example, these updates will significantly increase Autopilot functionality in properly equipped cars later this year by adding new features such as lane keeping with automatic steering, parallel parking, as well asside collision warning and improved traffic aware cruise control.

*quietly fuming*

They already have side collision warning?

 

[MsElectric]

They already have side collision warning?

Yes, it is a tiny arc that appears around the speedometer display. Unless you are looking down, you may miss it

 

[gizmoboy]

From today's shareholder letter:

For example, these updates will significantly increase Autopilot functionality in properly equipped cars later this year by adding new features such as lane keeping with automatic steering, parallel parking, as well as side collision warning and improved traffic aware cruise control.

Q2 Automotive gross margin excluding ZEV credits was 23.9% on a non-GAAP basis and 22.9% on a GAAP basis. Non-GAAP gross margin was about 100 basis points below guidance, primarily due to higher manufacturing and part costs related to the ramp of our small drive unit line and the deferral of revenue recognition for certain Autopilot features which are now scheduled for release later this year.

*quietly fuming*

Is "this year" formally defined as calendar or fiscal in the letter?

 

[R²B]

Is "this year" formally defined as calendar or fiscal in the letter?

If only that mattered...

Tesla Motor's fiscal year is based on the calendar year. The last day of the fiscal year is Dec 31.

 

[gizmoboy]

If only that mattered...

Ah, thanks.

 

[wk057]

I was just starting to get slightly hopefully that they were going to pull through for one of my trips coming up in a couple of weeks. "Later this year" doesn't quite sound like a couple of weeks.

Anyone want to buy a P85D? Think I'm might buy my P85 back. heh.

 

[tstafford]

Bummer.

One - I wonder if they now intend to release Model X w/o all the AutoPilot features.

Two - I'm somewhat surprised the accountants won't let them recognize the revenue associated with the unreleased autopilot features. They will be careful not to overpromise like this again and are now under significant pressure to get the stuff rolled out by 12/31.

 

[ohmman]

Two - I'm somewhat surprised the accountants won't let them recognize the revenue associated with the unreleased autopilot features. They will be careful not to overpromise like this again and are now under significant pressure to get the stuff rolled out by 12/31.

The reasoning on that wasn't clear to me, either. One thing it does imply is that there is an internal accounting of what revenue is attributable to the unreleased autopilot features. I'm sure that number would be interesting information to some participants in this thread.

 

[thx1139]

Would have been nice to hear firm release date, but I for one really only care that something as potentially dangerous as this releases when ready and only when ready. No sooner.

 

[MarcG]

From today's shareholder letter:

For example, these updates will significantly increase Autopilot functionality in properly equipped cars later this year by adding new features such as lane keeping with automatic steering, parallel parking, as well as side collision warning and improved traffic aware cruise control.

Q2 Automotive gross margin excluding ZEV credits was 23.9% on a non-GAAP basis and 22.9% on a GAAP basis. Non-GAAP gross margin was about 100 basis points below guidance, primarily due to higher manufacturing and part costs related to the ramp of our small drive unit line and the deferral of revenue recognition for certain Autopilot features which are now scheduled for release later this year.

*quietly fuming*

Jason, I read the below quote from the same shareholder letter with optimism that auto-steer (lane keeping) and self-parking will be available in September around the same time as the first Model X deliveries (emphasis mine):

The next few years at Tesla will be transformational from a product perspective, starting with significant new Autopilot features and the launch of Model X later this quarter. In Q4, we will ramp production and delivery of Tesla Energy products, and in Q1 2016 we plan to reveal the Model 3 design, with first deliveries expected in late 2017.

So the way I read it:

Q3 2015: significant new Autopilot features + launch of Model X
Q4 2015: production and delivery of Tesla Energy product
Q1 2016: reveal of Model 3 design

 

[Stoneymonster]

Yes, it is a tiny arc that appears around the speedometer display. Unless you are looking down, you may miss it

On mine it's bright red and accompanied by an alarm.

 

[wk057]

Was just said on the conference call, "and maybe into 2016" in reference to autopilot revenue.....

 

[KK2]

Was just said on the conference call, "and maybe into 2016" in reference to autopilot revenue.....

Stop being a negative nancy already

 

[jeffro01]

Aug 15th is when the beta program users will get autopilot...

Jeff

 

[wk057]

"Targeting release to EAP on August 15th." "Release one to two months after that"

 

[KK2]

Elon just said, release to early access customers on Aug 15.
Wide release 1,2 months after that, contingent to issues.

 

[MarcG]

Elon just said he's targeting release of auto-steer and self-parking to early access customers on 8/15, then depending on how that goes release to the general public 1 or 2 months later.

 

[A.G.]

Looks like October for autopilot

 

[Sogorman]

Yea EA on aug 15th and then everyone else 1-2 months after that... so if we take EST time into account hopefully December... what a let down.