I believe that the delay is rather a question of licensing and contract(s) between Scavier and Volkswagen. Maybe the car is finished, but cannot be released before something (iRacing release? fRactor official mod? no idea). In my opinion, that is also why the test patch has been released without the car, so that we can at least play with the rest.
I don't think that Scawen would be that "reckless" to announce a car without being sure that he can actually make it until his own deadline. More like it had something to do with some unexpected "outside interference" (VW possibly changing their mind about something?).
Maybe the devs are already working on S3 content, judging by their business model. Either they have some other primary source of income or they will need to milk the LFS franchise a little more...by releasing another "S" for which many (including me) will gladly pay.
Who knows, I am looking forward to seeing the conclusion to this. Oh and I'd like to remind you that these are all just opinions, so take them as such (I'm writing this at 3:40am so don't take them seriously at all
)