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Tesla Won’t Close Most Stores After All
Tesla Inc. has reversed its plan to shut down most of its retail stores in the U.S. and switch to online-only sales.
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Tesla Inc. has reversed its plan to shut down most of its retail stores in the U.S. and switch to online-only sales.
Last month the electric car company said it would cut costs by shutting down almost all physical stores. Now it plans to shutter only about half the outlets, all of which are company-owned.
Because leaving more stores open will affect projected operating costs, Tesla says it will raise retail prices an average 3% worldwide next week. The price hike—roughly $2,000—will apply to all models except for the company’s $35,000 base Model 3.
Tesla emphasizes that all sales of its vehicles worldwide will continue to be processed online, even for buyers who visit a physical store to see and test-drive a car. The company says stores will carry a small inventory for customers who want to take immediate delivery from the available stock.
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