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Tesla set to increase prices of its cars to keep revenue on track

Tesla set to increase prices of its cars to keep revenue on track

tesla price

Tesla price set to increase

Earlier this week, American electric car maker, Tesla said it would close down its stores and sell cars only online. Today, the company has changed its mind about closing its offline stores, rather, it says it would close down some stores and increase prices to keep revenue on track. The company will also lay off staff in some locations in order to cut costs and increase its revenue. The car prices will be increased by 3% worldwide but the increment will take effect one week from now. This one week window will enable potential buyers to place their orders before the new prices take effect.

SEE ALSO: 8 Thing you don’t know about Tesla

However, the cheapest Tesla Model 3 car which is priced at $35,000 will not be increased. The increment will only apply to the more expensive versions of the Model 3, Model S and Model X. The company also announced that it has already shut down stores in locations not getting enough sales and those stores will remain closed until further notice.

Also, 20% of locations are still under review depending on their performance within the next few months. Sone of them will be closed while others will remain open. It is going to be a cost-cutting measure by the company. Notwithstanding, purchases can still be done using the Tesla mobile app. Cars will still be available for test drives for buyers who want to test drive their cars.

Tesla said in a statement that the closure of some stores will help the company sell its cars more cheaply.

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