Tesla is not going to close their stores, instead hike car prices to keep them running.

 When you hear the word Tesla, the first thing that comes to the mind is the genius philanthropist Elon Musk and his venture into bringing automatic, driverless cars into the market. Other than this, the SpaceX, a company that is hugely popular for its space launch and multiple satellites, have been grabbing the headlines as well. Recently, quite a lot of speculations had been going on the closure of a number of Tesla stores.

However, there has been a vast reversal in the decision as they have decided to keep the stores open and hike the prices of its car, barring the Model 3, in order to fund the process. The hike is expected to be around 3 percent and has been put into place on March 18th. The revelation was done through a blog post and the spokesperson of the company have declined to make any further comments on the decision.

The models that are mainly subjected to the price raised are the expensive Model 3s, Model X and Model 3.  Model 3, which is priced at $35000 has not been put under the radar for a similar hike. Tesla said that they did a detailed inspection of all the physical stores thoroughly over the past two weeks, which prompted them to come to this particular decision. This comes in the wake of the fact that Tesla had already closed quite a few stores recently. Their point is that though these stores would have anyway closed, they would rather keep it open and generate revenues out of it. The 2-week long analysis has convinced them that the stores still have a lot of utility, though they continue evaluating it over the next few months.

The decision to close the stores and move to online sales was made in February 28th in a bid to reduce the price of Tesla cars by 6 percent. The online scenario still persists as all Tesla cars will have to be ordered online even when a person visits the store to make the purchase. The present salesperson will guide the customers to place the orders online. Only a minor quantity will be available for offline sales for people who need a car on an emergency basis. Tesla also reopened a few stores with a reduced workforce in order to balance out their expenditure and revenue well.