Tesla is struggling to build the Model 3 - here's why
Timothy Artman/Tesla
Tesla said that it would produce 1,500 Model 3's in September: it has managed less than 300 since the car was launched in July.
Getting to 20,000 in monthly production by December now seems like a hopeless expectation, as does CEO Elon Musk's prediction that Tesla will be manufacturing 500,000 vehicles annually by the end of 2018.
This means that the half million pre-orders for the Model 3 could go unfulfilled for several years, putting a huge number of $1,000 refundable deposits for each new car in doubt. That threat is real, but the markets are unconcerned: Tesla stock is still up 65% in 2017 and the brand has lost none of its captivating aura.
But it's also obvious that for a carmaker that's been around as long as Tesla should be good at, Tesla isn't: building vehicles.
So why is Tesla struggling to build the Model 3 on its own admittedly ambitious schedule? There are five main reasons:
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