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Audi e-tron customers face more delivery delays, fines for canceled orders: report
As Audi starts delivering the e-tron all-electric SUV to customers, some reservation holders in Norway are complaining over extra delays in vehicle deliveries. One e-tron reservation holder even reported to Norwegian media that he was faced with a fine when he attempted to cancel his order for the vehicle.
Around 7,000 Norwegians placed reservations for the Audi e-tron since it was unveiled last year, but the deliveries of the all-electric SUV have been slower than expected. Amidst large orders for the vehicle and limited supplies of components such as batteries, Audi has faced challenges in the SUV’s rollout. Roar Lauvstad, a reservation holder for the e-tron, noted in a statement to news publication Tek.no that he had been informed of a possible six-month extra wait time for his order, despite deliveries of the SUV already beginning in the country.
Audi has rolled out a “Fast Track” system for Norway, which allows immediate delivery of the e-tron provided that reservation holders order a specific variant of the SUV. The starting price of the e-tron in the country is listed at around NOK 650,000 (around $74,000), but the “Fast Track” variant, the Audi e-tron 55 Advanced Plus, costs around NOK 840,000 (around $95,000). This, according to Lauvstad, forces reservation holders like himself to either select a more expensive version or wait several more months for the actual variant he selected.
Unfortunately, Lauvstad met an unexpected roadblock when he attempted to cancel his e-tron order. According to the reservation holder, he was informed that be would be facing a fine amounting to 8% of his order’s purchase price. “I could break the contract (or) buy a Fast Track car, but I couldn’t just break the contract. They would then have 8% (around $6,800) of the purchase price of around NOK 750,000 (around $85,000) for breach of contract. So now I’m still waiting,” he said (translated using Google Translate).
Audi’s delays with the rollout of the e-tron come amidst reports that the German automaker is running into issues with the supply of the SUV’s batteries, which are sourced from LG Chem, the same company that provides cells for other EVs like the Porsche Taycan and the Jaguar I-PACE. Citing unnamed sources, The Brussels Times reported last month stated that Audi is only operating the e-tron’s production facilities 6 hours a day. Audi’s plant in Györ, Hungary, which produces the e-tron’s electric motors, are reportedly seeing delays as well, partly due to the effects of a workers’ strike earlier this year.
Audi’s growing pains with the ramp of the e-tron echo some of the struggles that Tesla faced when it was starting the production of its vehicles. The Tesla Model X was noteworthy for being delayed due to its design and over-the-top tech, and the Model 3 ramp was aptly described by Elon Musk as production hell. Based on what Audi is experiencing with the e-tron, it appears that even experienced automakers are bound to go through some pains as they learn how to build competitive electric cars.
One thing that appears to be different between Tesla and Audi is how the companies manage requests for cancelation among reservation holders. While Audi seems to have included a penalty in the fine print of its e-tron reservations, Tesla has allowed order cancellations that are practically worry-free. As noted by Elon Musk, orders for Tesla’s electric cars are still fully refundable even after seven days or 1,000 miles.
News
Wedbush’s Dan Ives sees ‘monster year’ ahead for Tesla amid AI push
In a post on X, the analyst stated that the electric vehicle maker could hit a $3 trillion market cap by the end of 2026 in a bullish scenario.
Wedbush analyst Dan Ives is doubling down on Tesla’s (NASDAQ:TSLA) long-term upside. In a post on X, the analyst stated that the electric vehicle maker could hit a $3 trillion market cap by the end of 2026 in a bullish scenario, thanks to the company’s efforts to develop and push its artificial intelligence programs.
An aggressive valuation upside
Ives, Wedbush’s global head of tech research, stated in his post that Tesla is entering a pivotal period as its autonomy and robotics ambitions move closer to commercialization. He expects Tesla’s market cap to reach $2 trillion in 2026, representing roughly 33% upside from current levels, with a bull case up to a $3 trillion market cap by year-end.
Overall, Ives noted that 2026 could become a “monster year” for TSLA. “Heading into 2026, this marks a monster year ahead for Tesla/Musk as the autonomous and robotics chapter begins. We believe Tesla hits a $2 trillion market cap in 2026 and in a bull case scenario $3 trillion by end of 2026… as the AI chapter takes hold at TSLA,” the analyst wrote.
Ives also reiterated his “Outperform” rating on TSLA stock, as well as his $600 per share price target.
Unsupervised Full-Self Driving tests
Fueling optimism is Tesla’s recent autonomous vehicle testing in Austin, Texas. Over the weekend, at least two Tesla Model Ys were spotted driving on public roads without a safety monitor or any other occupants. CEO Elon Musk later confirmed the footage of one of the vehicles on X, writing in a post that “testing is underway with no occupant in the car.”
It remains unclear whether the vehicle was supported by chase cars or remote monitoring, and Tesla has not disclosed how many vehicles are involved. That being said, Elon Musk stated a week ago that Tesla would be removing its Safety Monitors from its vehicles “within the next three weeks.” Based on the driverless vehicles’ sightings so far, it appears that Musk’s estimate may be right on the mark, at least for now.
News
Production-ready Tesla Cybercab hits showroom floor in San Jose
Tesla has implemented subtle but significant updates to both the Cybercab’s exterior and interior elements.
Tesla has showcased what appears to be a near-production-ready Cybercab at its Santana Row showroom in San Jose, California, giving visitors the closest look yet at the autonomous two-seater’s refined design.
Based on photos of the near-production-ready vehicle, the electric vehicle maker has implemented subtle but significant updates to both the Cybercab’s exterior and interior elements, making the vehicle look more polished and seemingly more comfortable than its prototypes from last year.
Exterior and interior refinements
The updated Cybercab, whose photos were initially shared by Tesla advocate Nic Cruz Patane, now features a new frameless window design, an extended bottom splitter on the front bumper, and a slightly updated rear hatch. It also includes a production-spec front lightbar with integrated headlights, new wheel covers, and a license plate bracket.
Notably, the vehicle now has two windshield wipers instead of the prototype’s single unit, along with powered door struts, seemingly for smoother opening of its butterfly doors. Inside, the Cybercab now sports what appears to be a redesigned dash and door panels, updated carpet material, and slightly refined seat cushions with new center cupholders. Its legroom seems to have gotten slightly larger as well.
Cybercab sightings
Sightings of the updated Cybercab have been abundant in recent months. At the end of October, the Tesla AI team teased some of the autonomous two-seater’s updates after it showed a photo of the vehicle being driven through an In-N-Out drive-through by employees in Halloween costumes. The photos of the Cybercab were fun, but they were significant, with longtime Tesla watchers noting that the company has a tradition of driving its prototypes through the fast food chain’s drive-throughs.
Even at the time, Tesla enthusiasts noticed that the Cybercab had received some design changes, such as segmented DRLs and headlamps, actual turn signals, and a splitter that’s a lot sharper. Larger door openings, which now seem to have been teasing the vehicle’s updated cabin, were also observed at the time.
Investor's Corner
Tesla analyst realizes one big thing about the stock: deliveries are losing importance
Tesla analyst Dan Levy of Barclays realized one big thing about the stock moving into 2026: vehicle deliveries are losing importance.
As a new era of Tesla seems to be on the horizon, the concern about vehicle deliveries and annual growth seems to be fading, at least according to many investors.
Even CEO Elon Musk has implied at times that the automotive side, as a whole, will only make up a small percentage of Tesla’s total valuation, as Optimus and AI begin to shine with importance.
He said in April:
“The future of the company is fundamentally based on large-scale autonomous cars and large-scale and large volume, vast numbers of autonomous humanoid robots.”
Almost all of Tesla’s value long-term will be from AI & robots, both vehicle & humanoid
— Elon Musk (@elonmusk) September 11, 2023
Levy wrote in a note to investors that Tesla’s Q4 delivery figures “likely won’t matter for the stock.” Barclays said in the note that it expects deliveries to be “soft” for the quarter.
In years past, Tesla analysts, investors, and fans were focused on automotive growth.
Cars were truly the biggest thing the stock had to offer: Tesla was a growing automotive company with a lot of prowess in AI and software, but deliveries held the most impact, along with vehicle pricing. These types of things had huge impacts on the stock years ago.
In fact, several large swings occurred because of Tesla either beating or missing delivery estimates:
- January 3, 2022: +13.53%, record deliveries at the time
- January 3, 2023: -12.24%, missed deliveries
- July 2, 2024: +10.20%, beat delivery expectations
- October 3, 2022: -8.61%, sharp miss due to Shanghai factory shutdown
- July 2, 2020: +7.95%, topped low COVID-era expectations with sizeable beat on deliveries
It has become more apparent over the past few quarters that delivery estimates have significantly less focus from investors, who are instead looking for progress in AI, Optimus, Cybercab, and other projects.
These things are the future of the company, and although Tesla will always sell cars, the stock is more impacted by the software the vehicle is running, and not necessarily the vehicle itself.
Wedbush’s Dan Ives sees ‘monster year’ ahead for Tesla amid AI push
Production-ready Tesla Cybercab hits showroom floor in San Jose
