Tesla thinks the future of auto sales is online. That may be true, but the company is taking a big risk by closing its stores.
Last week Tesla announced it would begin to close most of its stores in a cost-cutting move designed to help lower the price of its best-selling vehicle, the Model 3, to as little as $35,000.
Tesla said people will have to buy Tesla vehicles online or by phone, rather than in one of its hundreds of stores. It said selling cars on the internet would reduce the cost of the selling a vehicle by as much as 6%.