Tesla Model X SUV deliveries to start in September in US

The Model X is Tesla’s very first SUV model, which the company claims will be the first electric vehicle that can tow.

In a series of tweets, Musk revealed how the Model S update will grant the auto the capability to “learn” the difference between lane markings and other such marks on the road, therefore allowing it to safely autosteer whilst traveling, a feature that was discussed by Musk back in October of past year.

Wall Street was quick on Thursday to chop its earnings estimates for Tesla Motors Inc. after the electric-car maker’s second-quarter report raised doubts it will be able to sell as many cars as it has promised.

In the first quarter, Tesla delivered 10,045 vehicles.

Investors and analysts will also be interested to hear from Elon Musk with respect to the announcement the company made on Wednesday introducing a referral program for Tesla owners.

Analysts polled by Thomson Reuters had expected a 60-cent-loss per share vs. EPS of 11 cents a year earlier, with revenue rising 35% to $1.16 billion.

Tesla Motors has just confirmed that customer deliveries of the long-awaited Model X will commence in September. And its full-year guidance is still incredibly robust, implying 65% year-over-year growth in vehicle sales. The stock was trading close to 6 percent down, during afterhours trading on the 5 August.

Tesla lowered its full-year sales forecast to a range of 50,000 to 55,000 cars.

“We have been producing release candidate Model X bodies in our new body shop equipped with more than 500 robots as we fine-tune and validate our production processes”, Tesla said in the letter. Tesla also said it would ramp up production and delivery of its Tesla Energy suite of batteries for use by homes, commercial businesses and utilities in the fourth quarter.

At speeds higher than that, however, while the screens went blank and the car’s electric drive disengaged, the Tesla continued to offer power steering to the driver, who could steer it safely to the roadside.

The Tesla Model X is displayed at the Consumer Electronics Show in Las Vegas on January 7, 2015.

Tesla sounded more optimistic about 2016, when the Palo Alto, Calif.-based company expects “a steady state production and demand” of 1,600 to 1,800 Model S and Model X vehicles each week.