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March 11, 2019 1:30 PM, EDT

Tesla to Raise Prices, Close Fewer Stores Than Announced

Tesla Giulia Marchi/Bloomberg News

Tesla Inc. plans to raise average vehicle prices by about 3% globally after it decided to shut down fewer stores than it previously announced.

The move comes days after Tesla said it would be winding down most of its physical stores and move to an online-only platform. But the company has since decided to keep “significantly” more stores open, it said on its blog.

Potential Tesla car buyers will have a week to place orders before prices rise for the Model S and X, the company said. There won’t be a price increase to the $35,000 Model 3.

Tesla first published a public blog post late February that raised concerns among some investors and analysts who where caught off guard by the move.