Tesla has increased production of its Model 3 mass-market car in the first quarter but still fell far short of the numbers it promised last year.
The company says it made just under 9,800 Model 3s from January through March. That’s four times what it made in the fourth quarter. But it’s still only a fraction of the 20,000 per month that CEO Elon Musk promised when Tesla first started making the car.
So they are making around 3,000 a month instead of 20,000. I bet you that means their costs are way above budget. At some stage there will be a reckoning.