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You are here: Home / Tesla swerves on its retail strategy

Tesla swerves on its retail strategy

· March 7, 2019 ·

By Neal E. Boudette The New York Times Thu., March 7, 2019 Tesla’s sleek stores embodied its green vision for upending the transportation and energy business: a one-stop shop for electric cars, solar panels and battery storage. Less than three months ago, the company announced 11 new store locations across the country. Now Tesla is in retreat, shuttering most of its stores in a bid to cut costs. The move signalled that for a time was the most highly valued American car company. A spate of price cuts in the U.S. points to a slowdown in sales, and the company says it is currently making cars for Europe and China only. But plans to bring the company’s mass-market car, the Model 3, to overseas buyers have been hamstrung by logistical challenges. A long-promised $35,000 (U.S.) version of the Model 3 is finally being offered, but the price will test the company’s profitability. Tesla now expects a loss in the first quarter, rattling investors’ faith in the company and its enigmatic founder, Elon Musk. In recent days, its shares have tumbled more than 13 per cent. “I think this company is in scary territory,” said Erik Gordon, a management expert at… Read full this story

  • Tesla just made it harder to buy its cheapest $35,000 electric car
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  • Tesla to raise prices 3%, backtracks on closing stores
  • Tesla made Autopilot a standard feature on all its vehicles and announced sweeping changes to the Model 3 lineup (TSLA)
  • Elon Musk’s crazy week: Cheap Teslas, snarky tweets, major launch
  • Tesla’s cheapest model now harder to purchase
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  • Tesla's cheapest car just became a lot more difficult to buy (TSLA)
Tesla swerves on its retail strategy have 309 words, post on www.thestar.com at March 7, 2019. This is cached page on Vietnam Colors. If you want remove this page, please contact us.

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