techkenyot.com
techkenyot.com March 26, 2019


Tesla walks back its plan to close most showrooms

11 March 2019, 05:58 | Hattie Nash

Tesla will raise prices and backtrack on closing most of its stores

Tesla hits brakes on retail store closures, will raise prices instead

'When we recently closed 10 per cent of sales locations, we selected stores that didn't invite the natural foot traffic our stores have always been designed for.

However, there will be no price hike for the cheapest Model 3, which is its cheapest vehicle with a starting price of $35,000 in the U.S., around £26,400 in the United Kingdom - although prices for Britain are yet to be confirmed. Potential buyers can still test drive cars at the stores, which will "carry a small number of cars in inventory for customers who wish to drive away with a Tesla immediately".

The company has been pushed to cut costs in recent weeks having suffered its "most challenging" year in its history.

The price hike won't apply to its much-anticipated $35,000 Model 3 (getting this to market was the reason for the original closure plan) and won't come into effect until March 18 - so you still have a week to get your order in if you've been mulling it over. "Unfortunately, there's no way around it", said Tesla CEO Elon Musk in a conference call.

Weekend Weather Takes A Turn As UK Forecasts Snow And Strong Winds
A band of heavy rain will also push south-eastwards, and will be followed by some heavy showers during Tuesday and Wednesday. Temperatures are not likely to get much above 10 or 11C - but with the wind chill, this could feel more like 6 to 8C.

Cost savings from store closures will now be only about half the expected amount, Tesla said, as the company will shut half the number of stores it had originally planned.

Tesla says that all sales worldwide will still be done online.

Musk probably realized that he was locked into long-term leases on the stores that he would have to pay regardless of whether they were closed, Ramsey said. Such a criticism could not be leveled at Tesla's now-closed store in Washington, DC, located in the city's newest and poshest downtown retail location; perhaps this store was one that suffered from "low apparent demand generation".

The company said that keeping more stores open will cause it to raise the price of its cars.

Election Commission to announce dates of poll today at 5 pm
Elections are also due by May in Jammu and Kashmir, where Governor Satya Pal Malik dissolved the Assembly in November 2018. Four states - Jharkhand, Madhya Pradesh, Maharashtra and Odisha - will have elections in four phases .

At the end of February, Tesla said it was moving to an online-only sales model and was closing most of its stores in order to slash vehicle prices by 6%.

Shares of Tesla edged up less than 1 per cent in trading early Monday. That's a price point needed to reach more consumers and generate the sales that the company needs to survive, Musk has said.

Earlier today Tesla announced its long-awaited $US35,000 Model 3.

The blog post doesn't give a rationale for why Tesla is backpedaling. He said the sooner-than-expected arrival of a $35,000 Model 3 likely reflected the need to replenish cash after paying off a $920 million convertible bond and added that weak US sales early this year also probably hasn't helped.

Boxing legend George Foreman's daughter Freeda found dead at home
After her sixth fight ended in a loss, Foreman retired from fighting to focus on personal matters and other projects. The daughter of legendary boxer George Foreman was found dead in her Texas home on Saturday (March 9), TMZ reports.



Other News

Trending Now

Jets to acquire All-Pro G Osemele
Osemele is a two-time Pro Bowler who has earned a reputation as one of the better offensive guards in the league. Osemele, 29, is scheduled to receive a base salary of $9.7 million in 2019 and $11.2 million in 2020.

Tesla Investors Sue to Stop Musk Tweeting About the Company
Tesla said it raised $521million from Chinese banks as a term loan for raising the local factory. Battery-powered autos have been a rare bright spot amid the broader market's slowdown.

The Sinking City release date has been moved to June
Originally set to release on March 21st, 2019, The Sinking City has now been delayed until June 27th, 2019. In the words of Frogwares , "Too many games came out now so we prefer to get out the way".

Prosecutors drop murder charge against Kim Jong-nam suspect Siti Aisyah
The charge was "vague" and the prosecution "has failed to make out a prima facie case against the accused (Aisyah)", he said. Salim Bashir, one of Huong's lawyers, earlier told the media that she will testify with the defense stage of proceedings.

PDP condemns alleged confiscation of Rivers governorship election results by soldiers
At the polling unit 001 for the governorship poll, PDP polled 38, AA (14), APC (6) and Accord Party polled only one vote. The PDP is hoping for victory in some of the 22 states now run by Buhari's ruling All Progressives Congress (APC).

Brie Larson hopes Captain Marvel will trigger diversity conversations
Marvel also shared a few photos of Larson serving fans popcorn from the concession stand. Thi alludes to the fact that Fury and Marvel have been in communication for years.

Michigan Basketball: 3 predictions for Wolverines at Michigan State
Should U-M fail to find an offensive flow once again, a similar result from the one at Crisler Center 13 days ago could manifest. And the fact that it's MI , no one ever really wants to lose to MI . "We needed to stay locked in until the game was over".

Fitbit Encourage and Encourage HR health trackers return to fundamentals
The new models to be launched include the FirBit Versa Lite, the Fitbit Inspire HR , the Fitbit Inspire , and the Fitbit Ace 2 . The current Versa bands are also compatible with the Versa Lite so you'll have even more options for customisation.

First Android Q beta release may be sooner than you think
Of late, we have heard several features about that Google is planning to bring to the consumers with the Android Q software. If it's similar to Android Pie in release schedule, we might even seen the first developer previews landing very soon.

Windows 10 surpasses 800 million installs
WIndows 10 is now on 40 percent pf PCs according to Net Applications but Windows 7 is still in second place with 38.5 percent. The failure of the mobile version also meant that other operating systems such as Android were dominating the phone market.