On Thursday, American electric car maker Tesla confirmed it is closing some of its retail stores and shifting sales online. Breaking loose of its reputation of not being able to handle returns and refunds efficiently, the company further confirmed that from now on drivers will be given up to a week to return their newly purchased vehicles if they aren’t happy.
Tesla’s CEO explained that there was no other way to reduce operating costs but to shift to e-commerce. The move will reduce the sales force on the retail side and also avoid dealing with local politics that have prevented Tesla from operating its own stores (dealerships) in certain states including Connecticut, New Mexico and others.
The company further emphasized that this move could boost sales of Model 3 vehicles, by getting to the long-awaited base model price of $35,000.
But that's not all. The company is also shifting its resources to improve its customer service systems, striving to provide same-day service to Tesla owners. For example, the company’s mobile service will enable customers to get things done online rather than physically visiting the stores.
However, a small number of Tesla stores will still remain open as galleries, showcases and information centers where customers can learn about the company’s products and buy merchandise.
TSLA's Aroon Indicator triggered a bullish signal on July 22, 2024. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 320 similar instances where the Aroon Indicator showed a similar pattern. In of the 320 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at .
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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