The old prices will still be available until March 18. Note that the price increase does apply to the more expensive variants of the Model 3.
In announcing the move on February 28, CEO Elon Musk said it was necessary to cut costs in order to profitably sell the mass-market version of the Model 3 sedan for $35,000. According to CNBC, which received a copy of the email, Musk wrote that the company would now be keeping many of its unclosed stores open, and would even reopen some of the now-shuttered locations.
Electric carmaker Tesla has performed a U-turn on proposed store closures by announcing it will raise prices of its high-end vehicles by around three per cent on average in an effort to retain more dealerships around the world.
In its blog post announcing the change, Tesla said that, "we have made a decision to keep significantly more stores open than previously announced as we continue to evaluate them over the course of several months". However, "a few stores in high visibility locations" will be reopened.
American electric vehicle maker Tesla has raised auto prices by an average 3 percent, worldwide.
Tesla's announcement of original plan to close its stores prompted a sell-off in the company's stock.
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'When we recently closed 10 per cent of sales locations, we selected stores that didn't invite the natural foot traffic our stores have always been designed for.
"As a result of keeping significantly more stores open, Tesla will need to raise vehicle prices by about 3 per cent on average worldwide", a company's statement said. And prices for the Model 3 will still fall, as Tesla promised earlier this month, confirming this car's position as the affordable entry model for the range. In January CEO Elon Musk announced that it is cutting down 7 percent of its 45,000-strong workforce. 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.
Tesla has 378 stores and service centers worldwide.
Shares of the company, among Wall Street's most volatile in recent months, were roughly flat in early trading on Monday.
But he also said the move to close 10 per cent of stores and evaluate others is the right thing to do, and said most retail companies do that all of the time.
Tesla's share price rose nearly 3% in early German trading, following the publication of the blog post.