Tesla will keep stores open, vehicle price increase coming after March 18

Andrew Cummings
March 11, 2019

The company has now published a blog post which backflipped on this decision.

As for the $35,000 Model 3, it's pretty clear why the company isn't raising the price of that one; Musk promised that the auto will be available at that price point and any increase, especially this close to launch, would likely cause a lot of backlash.


Tesla Inc. said it plans to raise average vehicle prices by about 3 percent globally after it chose to shut down fewer stores than it previously announced.

The carmaker said potential buyers can place orders until March 18 at the old prices.


The company stated that it has evaluated all of its stores over the past two weeks and has chose to keep "significantly more" stores open than originally anticipated. "In other words, we will only close about half as many stores, but the cost savings are therefore only about half", Tesla stated. A few stores in high visibility locations that were closed due to low throughput will be reopened, but with a smaller Tesla crew. It added that the future of another 20% of locations will be under review in the next few months.

Tesla Inc Chief Executive Elon Musk has until the end of the day on Monday to explain why he should not be held in contempt for recent tweets that USA securities regulators say violated a September fraud settlement. Buyers coming into stores will be able to do a test drive, and if they choose to buy a vehicle, they'll be shown how to do that on their phones.


While the teaser itself doesn't reveal a whole lot about the Model Y, it does show that its headlights will more closely resemble those of the Model 3 than the larger Model S sedan and Model X SUV.

Other reports by iNewsToday

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