March 1, 2019
Automaker Tesla says it will close most of its 100 stores over the next few months to focus on online sales.
CEO Elon Musk says the move will help Tesla cut some operating expenses and also avoid dealing with the local politics that have prevented the company from operating its own stores in certain states — notably, Connecticut and New Mexico, among others — according to The Verge.
Tesla says it will keep its highest-profile stores open to showcase the brand. Last December Tesla opened 11 stores, expanding its network of physical locations by about 10 percent.
By Brannon Boswell
Executive Editor, Commerce + Communities Today
