Tesla said it is going to increase prices of its premium vehicles globally by about 3 per cent on average as it intends to keep additional retail stores open than intended.
The price hikes will apply to the more luxurious variants of Model 3, Model S and Model X, and there will be no price increase to the $35,000 Model 3.
The move happens after Tesla stated last month it was switching all sales online to help lower prices by about 6 per cent on average, permitting it to attain the $35,000 Model 3 price point earlier than expected.
Cost savings from store closing will be only about half the expected amount as the company will close only half the number of stores planned, it said.
Tesla said a few stores in high-visibility locations that were closed as a result of low throughput will be reopened with a smaller Tesla staff.
Tesla said the stores will carry fewer cars in inventory for customers who wish to drive away with a Tesla immediately.