Tesla to Raise Prices 3% in April

Tesla Inc. CEO Elon Musk says prices on the company’s new vehicles in inventory will rise about 3% worldwide on April 2.

The increase is intended to align the cost of those vehicles with a 3% increase in newly ordered models that takes effect on the same date. The hike will average roughly $2,000 per vehicle.

Musk says the hikes were driven by Tesla’s policy reversal earlier this month that will keep its stores open after all. The company had announced a month earlier that it was closing almost all its physical stores and shifting to online sales.