It was previously announced that Tesla would close almost all of its stores and pivot to online-only sales.
DETROIT — Tesla TSLA, +2.37% is walking back plans to close most of its showrooms worldwide and announced price hikes for most of its electric vehicles.
In a Monday filing with government regulators, Tesla now says it closed 10 percent of its stores, but a few of those will now remain open. Another 20 percent are being evaluated and some could remain open. Remaining stores could have fewer workers, but will have vehicles available for test drives and a small inventory in case people want to buy immediately, the statement said.
Gartner analyst Michael Ramsey called the move “startling” and said it undermines the credibility of Musk and Tesla’s management. The move made no sense to begin with because Tesla had spent millions fighting in courts and state legislatures trying to change laws that prevented companies from selling vehicles at their own stores, Ramsey said.
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