Carmaker Tesla reports loss of $US184mln

For the following year, however, Tesla is looking at being able to produce between 1,600 and 1,800 Model S and Model X vehicles per week. The company lowered its annual sales outlook citing pricing pressure as the dollar continues to strengthen against other currencies.

Tesla Motors CEO Elon Musk commented on how the Model X will look different from concept models back in 2012, and will actually look better.

The news circulated the market ahead of Tesla’s second quarter of fiscal year 2015 (2QFY15) earnings release, in which the EV giant thrashed Wall Street’s expectations but reduced its full-year delivery guidance. Hence, the company has said that there a number of “dependencies” that can possibly influence the company’s production for the fourth quarter.

Tesla stock fell 5.7% to $254.60 at 6:04 p.m. New York time after tumbling as much as 9.3% following regular trading.

Tesla’s final delivery tally for Q2 was 11,532 of 12,807 produced. As such, it will feature similar front and rear fascias to the Model S while also including a higher roof, larger wheels and tyres and additional ground clearance. “Since Model S and Model X will both share the general assembly line, we used the week to validate the newly installed equipment by completely building several Model X test vehicles”. They point out that a few of the component suppliers might seriously struggle to increase their production capacity to meet the increased demands for Model X vehicle units. To build long- term value, our first priority always has been, and still is, to deliver great cars.

For the next year, though, the company expects to sell 83,000 to 93,000 vehicles. However, in 2014 it once again delayed the launch again to the third quarter of 2015, reasoning that they prefer to focus on quality rather making a quick buck, so to speak.

Tesla now says that the company has developed a solution to the security flaws, which was already transmitted to Model S as a software update that can be downloaded by the driver via WiFi or cellular connection.

Tesla also spent more on research and development.

News of the Tesla hack comes just weeks after a report that cybersecurity researchers were able to take remote control of a Jeep Cherokee, leading Fiat Chrysler Automobiles to recall 1.4 million vehicles.