Tesla Model S and X 75D vehicles are getting a software upgrade that’s going to make them faster. According to Electrek, this means that the model S75D’s 0-60 mph acceleration has decreased to 4.2 seconds from 5.2 seconds, and Model X’s has gone down from 6.0 seconds down to 4.9 seconds. All undelivered Tesla Model S and X 75D since July 1 have already received the update.
As Electrek reported, the software update is not “over the air” and is best through a “hardwired connection” at a Tesla service centers. However, the luxury electric car company hasn’t stipulated the range of vehicles that can get the update.
The timing of this update on older Model S and X 75D vehicles is interesting as Tesla is currently working on the launch of its highly-anticipated new product, The Model 3. The company may be seeking to further distinguish its more high-end vehicles, the Model S and X, from its mass-market Model 3, priced at $35,000. The Tesla Model 3 is expected to have a less than 6-second 0-60 mph acceleration, according to CEO Elon Musk and that’s only for the base version. The performance version, which will be released later is expected to be even faster.
While Tesla has been making upgrades to its older Model S and X vehicles, The Model 3 seems to be causing some problematic developments for the company.
CNBC reports that in the third quarter of 2017, Tesla delivered a total of 26,150 vehicles, but only 220 of those were Model 3’s. Tesla had previously predicted that it would produce 1,260 Model 3’s in the quarter. They have blamed “production bottlenecks” on the slow delivery of the Model 3’s, but their recent mass firing of employees from their one and only automobile factory probably hasn’t helped either.
As a result of the delay, an analyst at JPMorgan has dropped his fourth-quarter Model 3 delivery forecast from 30,000 cars to 15,000 cars. In a note to clients, the analyst, Ryan Brinkman, wrote that the production delays could indicate that the Tesla Model 3 could be less profitable than previously expected because the vehicle may not be as easy to manufacture as it originally seemed. This prompted him to lower his price target for Tesla shares to $195, down from $200.
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