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.

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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.

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