Tesla announced Sunday that it will raise prices by about 3 percent on average across the board. The only exception will be the base Model 3, known as the Standard Range, which will keep its $36,200 starting price.
The increased pricing will be introduced after March 18, so potential buyers have a week left to lock in a Tesla with the current pricing.
Tesla said the increase is to cover the cost of keeping more of its physical stores open. Tesla last month said it will close “many” of its 378 stores as it moves to online-only sales, but in Sunday's announcement the company said it will revise lower the number it closes.
Tesla is in the process of reviewing the performance of its stores, both in terms of sales and foot traffic, to determine which will stay open. The company estimates that the increase in prices will mean it will only need to close about half the number of stores it originally planned, though the employee count will still be lower as fewer staff will be needed at stores due to the online sales process.
Even though Tesla sales worldwide are moving online, potential customers will still be able to book a test drive through one of the stores. Some stores will also have a small number of cars available for immediate delivery. Of course, anyone ordering a Tesla to their home sight unseen will be able to return the car after 1,000 miles or seven days (whichever is first) thanks to the company's new return policy announced last month.