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Model X questions at the June 2015 Shareholders Meeting

Discussion in 'Model X' started by O-G, Jun 9, 2015.

  1. O-G

    O-G Member

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    Why didn't someone just ask the direct question of when the MX reveal will be? The closest we got was the one comment from Elon about deliveries in 3-4 months which actually sounds a bit like another delay. I was shocked by the amount of time spent on the leather/non-leather seats. Really? Was that the most important thing to be talking about from a stockholder perspective? From a MX reservation holder perspective? From the public's perspective? Was there some limitation in the questions that didn't allow them to ask any specific questions? I'm a stockholder but didn't receive anything about the questions that could be asked as was mentioned on the webcast. Maybe only those present? After all these years of waiting I was really thinking that we might start getting something at least close to specific information.
     
  2. Yuri_G

    Yuri_G Member

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    He stated previously that there will be no reveal. Reservation holders will configure the car sometime in July, which will be the default "reveal".
     
  3. timf

    timf Member

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    That's the point, we know what he's said previously. What we want now is up to date information, and more details on what to expect with the rollout. Obviously there were no Model X reservation holders that got in line fast enough to ask a question. I posted a very detailed question about how the Model X rollout would be handled in the question suggestion thread, but nothing even remotely close to that was asked. Hopefully there's some sort of Q&A session at TMC Connect so we can get questions that forum members care about answered.

    I got all excited at the beginning when Elon said they had new product details to announce and then was completely let down when he got to the Model X slide and showed the exact same concept picture they had in the presentation last year with not even a hint of new details. It was just the same old tease about falcon wing doors, second row seats, and other surprise features. I look at the 3-4 months as more of an emphasis that there will only a few token deliveries in September so they can say they delivered Model X in Q3, with significant deliveries not starting until October and later.
     
  4. bonnie

    bonnie Oil is for sissies.

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    Elon has said he's not showing the X until later. I'm sorry you were disappointed - but I was just glad to hear confirmation (again) on Q3 deliveries. I really had no expectations other than a nod to the timeline. Forum members did get a little carried away with revving up the enthusiasm that the X would be revealed at this event & that's unfortunate. Tesla has never said anything to indicate that (nor will it be shown at TMC Connect).

    It's also doubtful that your questions will be answered at TMC Connect. This forum (TMC) and Tesla are independent of each other. While they may have a speaker or two there, it's not a general 'Ask Tesla Your Questions' session. Sorry, truly. We'll know soon enough.
     
  5. ptsagcy

    ptsagcy Member

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    I don't take his statement as confirmation at all. Rather it's another pushback of the delivery date. Unless there are significant deliveries in September, in my opinion they missed their Q3 target again. Deliveries "probably in 3-4 months" to me is maybe we'll deliver a couple of cars in Q3 but it's really going to be at least Q4 for real deliveries. I would not be willing to bet that configuration opens in July either. I hope he proves me wrong because it is getting to be a real mood killer when I really want to be getting excited.
     
  6. bonnie

    bonnie Oil is for sissies.

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    First deliveries in Q3 is what I remember. Not significant deliveries. So today's comments were in line with what I've been expecting.
     
  7. ptsagcy

    ptsagcy Member

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    Not to nit-pick but "probably" 3-4 months could very well be Q4 at best. I hope not, but we'll see. I already had to buy out a short term lease and now it looks very possible that this lease will run out before I get delivery. It's getting very expensive to try to guess when my car is coming.
     
  8. BrianC

    BrianC Member

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    If they roll out 100 MX in September I still call that releasing in Q4. As of right now the only thing on time seems to be the gigafactory and that is a tad disappointing to me.
     
  9. O-G

    O-G Member

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    I read everything, but post seldom. I try not to disagree with Bonnie since she is the MX queen but I have to make exception today.

    Elon said in the Q1 earnings statement that deliveries could happen in August but it was best to wait for September in order to get more test miles. That seems inconsistent with the statement today that deliveries will begin in 3-4 months. That is not a confirmation of Q3 deliveries. It definitely sounds like another delay to me albeit it maybe just a couple of months. Bonnie might get her #2 MX but even at #292, it doesn't seem to me like I'm going to see mine in September.

    As far as I can recall, Elon said that they would not release details about the MX until it was ready for release/production. That does not mean that there would not be a reveal of some sort. I would be shocked if they did not take advantage of the advertising opportunity. He specifically stated that the design studio would be open in July. From that statement, I would have expected a reveal sometime in July with the design studio opening the next day. Based upon the statements today, I don't see that happening. Again, I see this an indication of another delay.

    I really don't understand after all this time why TM can't be more specific with the details of the MX. It's not the same as discussing the M3 or the gigafactory or the power wall which are all down the road at some point. This is supposed to be happening in less than two months. (The design studio will be open in July.....). Actually, I think they were more specific about the details of the gigafactory two years out then they were about the MX 2 months out. Can't help but wonder what's really going on and if there is going to be another significant delay. If he is taking lessons from Apple, I think he is mistaken. This is not a $500 phone. This is a $100,000 vehicle with lots if implications on everyone's lives regarding existing vehicles, etc.

    On another note, regarding delays, Elon also said in the Q1 brief that he expected release 7.0 of the software to come out in June. Now he is saying that it might be released to their test people late this month. That is also a delay from earlier statements. He also stated that the remaining autopilot functions would be in that release. I didn't really get confirmation of that in his statements today. It will remain to be seen what functionality is actually implemented and when. Once again, I would see this as a delay from previous statements.

    The only positive here is the stock valuation in the past few months. If it keeps going this direction, it makes the delays somewhat tolerable. (Barely). I just don't get why at this point they aren't more informative. I don't think it's possible for anyone to be more positive about the company in total than I am. I just don't understand why they keep going down this road of poor and incorrect information. I get it in the past when things were more speculative but I believe they should be and need to be beyond that problem today.
     
  10. bonnie

    bonnie Oil is for sissies.

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    I never should have given up the ability to give negative rep! :)

    Seriously, perhaps I just heard August and have consistently translated that to 'or September'. I'm a big believer in managing my own expectations. Life is so much easier that way.
     
  11. Matias

    Matias Active Member

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    What did they say regarding doors? Did they say there is still problems with the doors?
     
  12. AnxietyRanger

    AnxietyRanger Active Member

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    I would find it very unfortunate if communal culture or peer pressure would discourage criticism of anyone's opinion. So, hopefully that is not the case.

    Some comments on the overall discussion:

    As for Model X timeline, I think we need to separate realistic expectations from reasonable expectations, let alone from disappointment. Realistically, anyone following Tesla, can expect them to be late with Model X predictions.

    That said, reasonably, (some of) the same people could still expect them not to be late again and again. It is not unreasonable to expect that, not especially given how much leeway Tesla already has gotten on Model X (years from original prediction). It may be unrealistic to expect Tesla to stick to their own announced timelines, but it is not unreasonable to expect that.

    Thus, one can be disappointed in Tesla, even if realistically they know Tesla rarely meets their self-imposed timelines - because Tesla has let them down on what they feel reasonable Tesla should have accomplished. The difference between what one finds realistic and reasonable seems to be proportionate with how much one is willing to give Tesla a pass. That part is highly subjective.

    Some people are willing to give Tesla more of a pass than others, so thus their opinions on a thread like this are bound to be different. And I guess that's perfectly fair.
     
  13. tga

    tga Active Member

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    Well, I'll admit that a little part of me hoped that Bonnie would get invited on stage and handed the fob to her new ride... :wink:
     
  14. NigelM

    NigelM Recovering Member

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    I'd personally like a reveal event just to satisfy my own curiosity after years of waiting, but....there's no point in incurring the costs and logistics of a big event when there's already a reservation list longer than a giraffe's neck.
     
  15. eepic

    eepic Member

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    But doesn't the Sept/Oct target now translate to November?
     
  16. bonnie

    bonnie Oil is for sissies.

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    Hahaha.

    No.
     
  17. vandacca

    vandacca Active Member

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    This is what I found interesting from the 2015 Share-holders meeting:
    - Elon is testing the latest AutoPilot versions (2-3 times a week), which would seem to indicate that Tesla team are having nightly builds (very much like a software company)
    - That would seem to indicate that there is no code-freeze yet, so they are (at least) still weeks away from delivery
    - Isn't Elon too important to be testing AutoPilot? Seems too risky to me.
    - Elon is driving the latest iteration of the Model-X on a weekly basis.
    - Delivery dates are secondary, what is more important is Elon's opinion on when the vehicle is ready
    - Tesla is more like a software company (with constantly slipping deadlines) than an auto company
    - Tesla is still innovating (how cool is liquid-cooled charging cords?)
    - Tesla still expects to significantly increase charging speeds
    - Sounds to me that the Tesla team is working long hours and very hard on getting Model-X finished
     
  18. AnxietyRanger

    AnxietyRanger Active Member

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    Thank you for the nice summary.

    Perhaps the latest Model X mules we see spinning around are the kind they test latest auto pilot on.
     
  19. bonnie

    bonnie Oil is for sissies.

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    My comments in blue, above.
     
  20. Nubo

    Nubo Test Mule

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    Yep. 4 months would be October, which is not Q3. The good news is the slippages are getting smaller and smaller. So either Model X is getting close, or we'll fall victim to Zeno's paradox. :scared:
     

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