Where’s the Model X? Morgan Stanley’s Adam Jonas says it may be delayed, but doesn’t matter

Celebrity Tesla analyst Adam Jonas of Morgan Stanley thinks the electric auto maker’s Model X, which is expected to begin deliveries to customers in the second quarter of next year, might be slightly delayed into the third quarter of 2015.

But Jonas, whose notes are often a bit over the top, also says that it doesn’t really matter.

“It’s common for major auto launches to come a bit later than originally expected,” writes Jonas. “Typically, the bigger the launch, the more likely it is to be delayed.”

The Model X, a cross over between an SUV and a minivan, was designed with women in mind and is expected to have wider appeal than the Model S.

Jonas says that Beta prototypes of the Model X have been difficult to spot, and that the introduction of an All Wheel Drive version of the Model S was a surprise.

“We believe the introduction of an AWD Model S (which we expect could ultimately account for the majority of all Model S orders) suggests a bit more temporal ‘spacing’ head of a Model X launch….potentially consistent with a launch a bit later than 2Q15. We could very well be wrong here.”

Jonas still has a $320 price target for $TSLA and says Tesla is “the most exciting car manufacturing story in a generation.”

Tesla’s Model X sedan; image from Tesla’s website.

 

 

 

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