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Tesla curbs forecast due to Model S issues, losses total $864.9M

It ain't easy creating a brand-new automaker from scratch. The fact that Elon Musk and Tesla have actually been able to bring not one, but two cars to market is in itself quite impressive. That said, the road has not been without its bumps, and Tesla is feeling some of the setbacks that come with being a fledgling automaker.
To that end, Tesla has revealed that it expects $400 million to $440 million in full-year revenue, or roughly $160 million less than its prior 2012 revenue forecasts. In a Securities and Exchange Commission filing on Monday, the electric carmaker said "We have methodically increased our Model S production at a slower rate than we had earlier anticipated," leading to the company figuring they'll fall short of the $560 million to $600 million they originally forecasted. Tesla also revealed a net cumulative loss of $864.9 million through June 30 of this year - Tesla has yet to break even as an automaking entity, but it remains something of a startup, so the fact that it has lost money to this point shouldn't be a major surprise - building cars is expensive, and learning how to do so is even more expensive. Following the disclosure, Tesla shares fell about 8.5 percent this morning in trading.
Tesla cites delays in suppliers for its Model S production shortcomings. The California automaker says it is working with suppliers to speed up deliveries and internally, it is adding shifts and automation to its manufacturing processes. With little more than half of the 5,000-vehicle target expected to be built by year's end, Tesla says it is four to five weeks behind its delivery goals.

Tesla announces 'infinite mile warranty' for Model S EV drive unit

Tesla Motors has a way with words. From Superchargers to 'auto pilot,' Tesla likes to set itself apart by calling things other things. What, fast charging and autonomous drive not good enough for ya? The same thing just happened with the announcement of a new 'infinite mile warranty' for the drive unit. That's infinite, not unlimited, but whatever it's called, the new policy lifts the warranty mileage cap on the 85-kWh version of the Model S that had previously been set at four years and 50,000 miles. The new rules say that the drive unit will have the same 'limits' as the battery pack, which means as many miles as you can put on the car in eight years. Tesla will also honor the warranty no matter how many people have owned the car and is applying the warranty retroactively, so feel safe buying that used 2012 Model S until 2019 if you still want some warranty coverage. "If we truly believe that electric motors are fundamentally more reliable than gasoline engines ... then our warranty policy should reflect that." – Elon Musk Tesla has gotten some criticism recently for quality issues in Model S EVs that have been on the road for a while now. Consumer Reports, for example, described problems with their Model S after owning it for 17 months. In the warranty change announcement blog post, Tesla CEO Elon Musk admitted that Tesla made a mistake imposing a limit in the first place. "In hindsight, this should have been our policy from the beginning of the Model S program," he said. "If we truly believe that electric motors are fundamentally more reliable than gasoline engines, with far fewer moving parts and no oily residue or combustion byproducts to gum up the works, then our warranty policy should reflect that." Now it does. Tesla is warning its investors that the short-term impact might be negative, but "by doing the right thing for Tesla vehicle owners at this early stage of our company, I am confident that it will work out well in the long term," Musk said. You can read the short announcement below. Infinite Mile Warranty The Tesla Model S drive unit warranty has been increased to match that of the battery pack. That means the 85 kWh Model S, our most popular model by far, now has an 8 year, infinite mile warranty on both the battery pack and drive unit. There is also no limit on the number of owners during the warranty period. Moreover, the warranty extension will apply retroactively to all Model S vehicles ever produced.

Tesla Model S P85D details leaking out

When the cat pokes its nose out of the bag, sometimes you can see a bit more than the cat intended. This week, Tesla CEO Elon Musk Tweeted a tease about "revealing the D" and promised to show more on October 9th, giving us a week to prepare for the big surprise. This ignited a debate over at the Tesla Motors Club and user Adelman has now posted a picture that a friend took of a Model S with P85D branding [UPDATE: Image removed from this post, but you can see it here]. This doesn't help us know exactly what we're looking at, but it does make the picture a bit clearer, since we can eliminate the idea that there's a Tesla Model D coming. And things come even more into focus when we put Musk's Tweet into context with not only previous company statements about an all-wheel drive Model S based on work being done on the AWD-only Model X but also a new Tweet by Edmunds' Mike Magrath that says, "According to the guide there's supposed to be an all-wheel drive Tesla here at the Paris Motor Show. There is not." See the Tweet and pic below. Given these pieces, it's looking pretty clear that the "D" Musk mentioned will be the AWD Model S. Now, about the "something else" he hinted at. What could that be? This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.