Tesla's best Model X and Model S vehicles receive major price cuts

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Tesla said its sales would now be online-only around the world and it would close many stores.

Lastly, and most importantly to investors and traders, Mr. Musk said on the call that he expects the company to miss profitability this quarter after two consecutive black quarters. For years, Tesla has battled with regulators and supporters of traditional franchised dealerships in order to expand its footprint of stores across the country. Musk's memo noted that high-traffic stores will remain open as Tesla information centers and galleries.

In an effort to cut costs, Elon Musk has announced the company is shifting to an online-only sales model.

Tesla is now offering two software packages; regular autopilot, at a cost of $3,000 (£2,270) which will allow for automatic steering on highways or full self-driving ($5,000) which takes over more functions, such as changing lanes, navigating junctions and taking exits. Tesla says to its US buyers, "For 6% more money, you get 9% more range, more power, and an upgraded interior".

Lastly, for the good news, Tesla will now allow buyers to return any vehicle for a full refund within 7 days or 1,000 miles.

Tesla is increasing its investment in service as well.

After delivering a scare to Tesla shareholders late Monday by continuing to openly tussle with the U.S. Securities and Exchange Commission over his tweeting, the CEO seemed to send the stock climbing with cryptic posts about news coming Thursday.

You'll configure, order and pay for your vehicle online - whether it's the Model 3, Model S or Model X, and servicing will be handled by over-the-air updates or online bookings. "The vast majority of consumers want to do some combination of both online and traditional shopping for new vehicles".

Musk also backed off of earlier guidance that the company would be profitable in all future quarters.

Yes, it's almost three years after Elon Musk promised it, but now you can finally order a Tesla for $35,000.

The "standard" Model 3 has a smaller range before recharging of 220 miles (350 kilometers).

But despite the crisis of profitability now faced by auto manufacturers as they make the move into alternatively-fuelled vehicle (AFV) production, the online launch of the new Hyundai Kona EV quickly made it the Hyundai network's "most profitable vehicle", according to Whitehorn.

It comes after Tesla on Thursday released the long-awaited base version of the Model 3, which starts at $35,000.

According to CNN Business, Tesla then halted some orders ahead of the announcement.

Another way Tesla was able to bring the price down was by switching exclusively to online sales. And you get a "Partial Premium" interior, which restores the power seats, vegan synthetic leather, and a better audio system, among other features.

"Tesla's delivery outlook also implies another year of significant market share gain". However, Tesla may not need to rely on them quite as much.

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