Musk blindsided many sales personnel at the company with the store closings, and some investors and analysts feared the cost-cutting measures sent troubling signals about the state of the company's sales and cash position. Tesla touted that move as a time and money saver, with the company passing on a 6 percent savings to the buying customer.
But in an update the company said that over the past two weeks it had been "closely evaluating every single Tesla retail location" and had "decided to keep significantly more stores open than previously announced". Tesla on Monday announced an average 3 percent hike in prices for its cars and reversed the decision to close all its physical stores. Before the $35,000 Model 3 was available, the cheapest Tesla started at $42,900.
The increased pricing will be introduced after March 18, so potential buyers have a week left to lock in a Tesla with the current pricing. And whether those numbers are directly involved or not, the company changed course, announcing late Sunday that it's not happening in such a sudden and comprehensive way.
‘Captain Marvel’ rockets to historic $153 million debut
Fans have been curious about the Easter eggs planted in the Brie Larson starrer that would help understanding Endgame better. Anyone who didn't see Captain Marvel at the AMC Clifton Commons Theater on March 9 must be suffering some serious FOMO.
The move comes days after Tesla's announcement that it will sell cars online only to help save costs. Tesla stores are usually found close to city centers in popular locations, rather than alongside out-of-town dealerships.
The electric vehicle manufacturer announced February 28 that it was planning on closing nearly all of its physical stores and switching to a purely online sales model, Business Insider reported.
"As a result of keeping significantly more stores open, Tesla will need to raise vehicle prices by about 3 percent on average worldwide", a company statement said. Another 20 percent of stores are still under review and may close over the coming months, depending on their effectiveness. Tesla will offer vehicles for test drives at its stores at the buyer's request, and there will be a small number of cars in inventory for those who want to drive off in their new auto the same day.
Conor McGregor is arrested following fight with a fan in Miami Beach
Police say McGregor slapped the phone out of the victim's hand, stomped on it and then walked away with it. He was initially charged with two felonies, but ended up pleading guilty to a disorderly conduct charge .
Tesla did not immediately respond to a request for further information, including which specific stores would be reopening.
Tesla just took to its official blog to announce that it would not be closing as many stores as it had initially planned and would be raising prices 3% on select configurations of the Model 3, S, and X, effective March 18th. The 7-day/1,000 mile test drive policy will still apply as well, though test drives will still be available in stores. Sales of the Model 3 have fallen almost 80 percent since that time.
Theresa May in last-minute bid for Brexit breakthrough
On Monday evening, Theresa May flew to Strasbourg for last-minute talks with European Commission president Jean-Claude Juncker.