Tesla Hikes Car Prices amid Chaos but Investors Shouldn’t Be Alarmed
Tesla is reversing its policy of shutting stores in a week of chaotic decision-making. | Source: Shutterstock
After it was revealed that Tesla owes $1.6 billion in lease obligations at premium outlets, malls, and prime locations, the company has decided to leave many of its stores open.
The Tesla team said in an official statement:
Last month, we announced that we would be winding down many of our stores and moving to online-only sales in order to pass the savings along to our customers.
Over the past two weeks we have been closely evaluating every single Tesla retail location, and we have decided to keep significantly more stores open than previously announced as we continue to evaluate them over the course of several months.
Ok, Tesla, we see you pic.twitter.com/gmRBmMirLR
— Mashable (@mashable) March 10, 2019
Tesla has already shut down 10 percent of its physical stores nationwide but is reconsidering the planned closure of 20 percent of the remaining stores in the months to come.
Tesla is Raising Car Prices by 3%, But It Shouldn’t Concern Investors
Analysts have criticized the instability of the decisions Tesla have made in recent years as the company gears towards profitability and financial stability.
In February 2018, Tesla said that it plans to expand stores throughout the U.S. to increase the visibility of the brand and the demand for its products.
However, in a complete 180 change, Tesla said last month that it will close most of its stores and shift to online sales.
Tesla vehicle deliveries each year:
— Jon Erlichman (@JonErlichman) March 11,