It’s not much of a down payment for what is expected to be one of hottest sport utility vehicles (SUVs) in history, maybe. For $5,000, anyone can reserve a Tesla Motors Inc. (NASDAQ: TSLA) Model X, the next big thing from the electric car company. The Model X should begin to be delivered in early 2016, if it is on time. Tesla must believe there will be a wave of demand. Its current flagship, the Model S, costs only $2,500 to reserve for delivery.
Tesla management does not write very much about the car at the company website, a sign that the press about the car has made so many details available to the interested public that it is unnecessary for them to do so.
Model X is designed from the ground up to combine the space and functionality of a sport utility vehicle with seating for seven adults and the uncompromised performance of a Tesla. It is an automobile above category.
Offered with multiple battery and performance options, every Model X comes standard with Dual Motor All Wheel Drive and brilliantly functional Falcon Wing Doors. These doors fold up and out of the way allowing easy access to the third row seat, even from the narrowest of parking spaces
Those “Falcon Wing Doors” may be the winning feature.
One of the mysteries about the Model X is its exact launch date, because Tesla has not provided this information. The vehicle may be available in early 2016. Comments made in Tesla’s last earnings release indicate deliveries may occur in the final third quarter of this year. In the same earnings release, it was revealed that Model X sales will help Tesla reach its goal for delivering on its targets in 2015:
In Q2, we expect to produce about 12,500 vehicles, representing a 12% sequential increase. We plan to deliver 10,000 to 11,000 vehicles in Q2, and we are still on track to deliver approximately 55,000 Model S and X cars in 201
An article in The Wall Street Journal showed why some Tesla followers are anxious:
The Model X is heavily anticipated, but has been subject to a couple of setbacks. In its first-quarter earnings report, the Silicon Valley electric vehicle maker said the vehicle will hit the market in “late Q3.” In February, the company indicated the Model X would be on sale by mid-July.
So, late third quarter, sometime fourth quarter, or early next year. The price to reserve a Tesla Model X is $5,000, no matter what the delivery date is.