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Tesla Takes Hit With Store Closures

Video Credit: Wochit - Duration: 00:45s - Published < > Embed
Tesla Takes Hit With Store Closures

Tesla Takes Hit With Store Closures

Tesla on Sunday announced that it would reduce the number of store closures that it had previously announced.

The electric-car maker said that keeping more stores open will cause it to raise the price of its cars.

At the end of February, Tesla said it was moving to an online-only sales model and was closing most of its stores in order to slash vehicle prices by 6%.

As part of its move to shift all sales online and other ongoing cost efficiencies, Tesla slashed the prices of its Model 3, Model S, and Model X vehicles by about 6% on average.

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