Tesla raises price tags by just 3%; basic price of Model 3 untouched

Customers have until March 18 to snag Tesla’s electric cars at their old price points.

U.S. electric carmaker Tesla Inc has stated, the prices of its high-end models will increase by around 3% on average.

Tesla plans on keeping more retail stores open than it had earlier planned.

Tesla has clarified that the worldwide price hikes will apply only to the more expensive variants of Model 3, Model S and Model X; there is no no change in the price tag of the basic variant of the Model 3. It will remain at $35,000.

Tesla has also said, potential buyers have until March 18 to buy its models at their old price tags.

Last month, Tesla had said, it was shifting all sales online in order to help lower prices by about 6% on average; this was to achieve 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, said Tesla.

In a strategic move, Tesla aims to keep a few stores open in high-visibility locations with a smaller crew.

Such stores will carry fewer cars in inventory for customers who wish to drive away with a Tesla immediately.

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