Morgan Stanley thinks Tesla will ramp Model 3 production much slower than expected (TSLA)

Tesla CEO Elon Musk has set the ambitious target of delivering 500,000 vehicles annually by 2018. In 2016, the company delivered less than 80,000.
The Model 3, a $35,000 mass-market car, could change all that when it arrives in late 2017. Musk thinks that Tesla could ramp up production rapidly and meet that 500,000-per-year objective.
Morgan Stanley's lead auto analyst, Adam Jonas, disagrees. Jonas published a research note on Wednesday in which he reiterated his "overweight" (or "buy") rat