Tesla will close most of its stores and only sell cars online

Tesla will only sell its vehicles online, the company said. The electric carmaker will close most of its stores over the “next few months.” Tesla announced the move at the same time it said it will finally begin to sell its long-promised $35,000 Model 3.

Tesla will keep some of its retail locations open, which the company described as “a small number of stores in high-traffic locations remaining as galleries, showcases and Tesla information centers.”

“All sales will be online,” Tesla CEO Elon Musk said in a call with reporters Thursday.

The decision to shift away from brick-and-mortar retail is necessary if the company is to remain financially sustainable, Tesla said. The company’s finances have stabilized somewhat in recent months,…

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