Tesla performs U-turn over store closures

Car prices to rise by 'about 3%' after decision to move to online-only sales reversed

Tesla has reversed a decision to close all its stores and move to an online-only sales model, the company has announced, pending the results of a further review on the usefulness of physical locations.

The initial decision was made as part of a plan to reduce costs at the company, in order to fund an across-the-board immediate price reduction of 6% on Tesla's cars. Now, however, Tesla will be increasing the price of cars by "about 3%", erasing half the savings.