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Tesla closes fewer stores, but raises prices for expensive models

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Tesla closes fewer stores, but raises prices for expensive models
March 13
13:00 2019

The notorious manufacturer of electric cars Tesla has announced that it will raise prices for more expensive brand models. They will rise in price by about 3%. Such a course of action will make it possible to maintain more stores open than previously planned.

The price increase will affect the Model S and Model X. The declared value of Model 3 will remain the same – $ 35 thousand. The price increase is scheduled for March 18. Until that moment, the cars can be ordered at the same prices.

In February, Tesla made a statement about the closure of almost all its stores. This measure was needed in order to reduce costs and a price of the recently released Model 3, bringing it to the price that was proposed at the announcement ($ 35 thousand). After the closure of stores, the company was going to sell their cars exclusively through the Internet. Tesla had been thinking about this step for several years, but constantly postponed it. Despite the fact that the company’s intentions have been known for a long time, this sales strategy came as a big surprise.

Now Tesla declares that only half of the stores could be closed.

In addition to this news, Elon Musk has announced the presentation of the new Model Y, which will take place this Thursday in Los Angeles. A small size (slightly more than Model 3) and a reasonable price (about 40 thousand US dollars) will be a peculiarity of the SUV.


The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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