Tesla Moves to Online-Only<br />Sales to Reduce Car Prices Tesla announced that they are<br />closing down most of their physical stores<br />in order to cut down on company costs. Only a few stores in busy areas will remain open, acting as galleries and “information centers." Elon Musk says the shift<br />to online exclusivity is<br />intended to reduce the price<br />of all Tesla cars by 6%. Model 3 cars will now be sold for<br />$7,900 lower than their previous<br />starting price of $42,900. Elon Musk, via 'The Guardian' Musk hopes that lowered prices will appeal to a wider range of consumers and generate more sales. He estimates that there’s enough<br />demand for the car to achieve 500,000<br />sales annually at the new $35,000 cost. The store closures come in the wake of<br />Tesla’s announcement in January that<br />they were laying off 7% of their workforce. Musk declined to comment<br />which stores would be closed<br />and how many more employees<br />would be laid off.
