In its statement on Sunday, Tesla also tried to assert that the plan to conduct all sales online remained in place.
Perhaps realizing that closing the majority of its stores was a short-sighted move, the company over the weekend announced that it will keep most of its stores open and that the promised price cuts for the Model S and Model X won't be implemented.
Musk referred to some of the closed stores as being "in such hard or obscure locations, only Sherlock Holmes could find them".
Tesla said those stores that will be saved will have fewer cars in inventory with the outlets more focused on providing customer information and test drives rather than vehicles for purchase. There won't be a price increase to the US$35,000 Model 3. The Palo Alto, California-based company opened 27 new retail and service centers last quarter, boosting its total to 378 locations worldwide, according to its latest letter to shareholders.
Tesla has partially reversed course on its series of store closures flagged at the start of the month, but it will come at a cost to consumers.
DON'T MISS: Tesla Model 3 Standard Range arrives soon at $35,000 and 220 miles.
‘Brazen’ cardinal Pell sentenced to six years in jail for chairboy abuse
Kidd said as archbishop Pell would have "cast a powerful shadow" and thought he could control the situation if caught. Disgraced Cardinal George Pell on Wednesday was sentenced to six years in an Australian prison for child sex crimes.
AP Assembly election to be held on April 11
The state of Karnataka, that sends 28 MPs to the Lok Sabha, will vote in general elections in two phases. The last date of nomination of first phase polling will be March 25".
'Captain Marvel' smashes box office opening weekend
In terms of all films, superhero or not, Captain Marvel had the sixth-best opening weekend of all-time. Captain Marvel soared to the box office lead, raking in more than expected after middling reviews.
Tesla said last month after announcing a price cut for its flagship Model 3 auto that it would shutter most stores in a bid to cut costs and shift more of its sales online.
Tesla Inc (TSLA.O) Chief Executive Elon Musk shot back against USA securities regulators on Monday, arguing in a filing that his recent tweet about the electric vehicle maker's production volume did not violate his fraud settlement and he can not be held in contempt.
In a separate issue, Musk must argue his case to the Securities and Exchange Commission (SEC) why he should not be held in contempt over past tweets announcing he planned to take the company private at $420 a share and had the funding to do it, Reuters reported.
'The 3 percent price increase announcement still indicates. strong demand, ' said Ivan Feinseth, an analyst with Tigress Financial Partners. The company also has a list of about one hundred stores that it's evaluating: Some will close and others will stay, it says.
Tesla is an electric vehicle and energy company based in Palo Alto, California, that is worth about $49 billion.
Tesla was down 0.54%, trading near $282.60 a share early Monday, after the company hit the brakes on its plan to shutter its retail stores. In terms of local pricing that translated to cuts of over 30%.