Elon Musk says there's no Model S or X refresh coming: 'only minor changes'

• Tesla isn't planning to refresh its Model S or X, CEO Elon Musk said on Twitter.
• His comments contradict earlier reports by Electrek that said a refresh was in the works.
• Last week, Tesla reported second quarter deliveries that topped investor expectations, boosting the company's stock price.
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Tesla's chief executive Elon Musk on Monday night dispelled earlier reports that a major refresh to the company's Model S and X was being planned.

"There is no "refreshed" Model X or Model S coming, only a series of minor ongoing changes," he tweeted in response to a question. "Most significant change in past few years was to use high efficiency Model 3 rear drive unit as S/X front drive unit. That went into production 3 months ago."

Pressed for more details, Musk added there is no interior revamp planned, and that S and X will not be discontinued anytime soon.

News of an update to the Model S and X, originally unveiled in 2012 and 2015, respectively, was first reported by the blog Electrek in July 2018, which cited unnamed sources familiar with the matter.

In the first week of July, Tesla reported second quarter delivery numbers that set a new record for the company. Now, Wall Street analysts worry that the levels may be hard to maintain.

"The focus now turns to 2Q financials and the outlook for 3Q and beyond," Chris Eberle, an analyst at Nomura Instinet, said in a note to clients last week. "Both we and the Street forecast a return to FCF positivity in 2Q, though the magnitude differs meaningfully (we now estimate 2Q19 FCF of $468 million versus consensus at approx. $135 million."

Shares of Tesla are down 25% since the beginning of the year.

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