Tesla's Elon Musk vs. the SEC: Did he violate a court order?

Tesla's Elon Musk vs. the SEC: Did he violate a court order?

The move does not affect Tesla's decision to move all purchases onto the internet, as the stores will simply shift to a policy of helping customers with their online purchases. Some of those stores that have closed may now reopen with a smaller crew.

As laid out in the first installment of Tesla's master plan more than a decade ago, the company described in clear terms its plan to revolutionize the auto industry by using profits from pricier electric vehicles to develop and manufacture a mass market EV, a car we now know as the Model 3.

In a blog post, Tesla said it would keep "significantly more stores open than previously announced", and support the ability to produce the base-level $35,000 Model 3 by raising prices about 3 percent on other, higher-end models. The Model S and Model X also will be made more expensive, and buyers will have a week to place orders before prices rise. The company also announced that it would be closing almost all of its stores and that the Model S and Model X would also see some slight price reductions.

The latest announcement reverses those price cuts and most of the store closings.

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The company said that keeping more stores open will cause it to raise the price of its cars. One of the stipulations of this settlement was for Tesla to oversee all of Musk's future tweets to ensure they had no impact on the vehicle manufacturer's stock price.

The company gave no numbers, but said it would close only about half the stores that it had meant to.

Tesla cut the prices in response to falling tax incentives for its cars, after the company reached the cap on the credits last summer. It also confirmed that to afford selling the new model at this price it would need to close most of its brick and mortar stores over the next few months. The pricing change will go into effect on March 18th, giving potential customers a few days to pull the trigger at the lower price point and giving Tesla a demand boost as customers will surely flock to the website to configure and order a Tesla before pricing goes back up.

Tesla Inc chief executive Elon Musk shot back against the U.S. financial regulator on Monday, arguing in a filing that a recent tweet about the electric vehicle maker's production volume did not violate the court's judgment and there is no basis to issue contempt against him. The company has announced that while it will be reducing staff in some locations, it will only shutter about half as many outlets as previously announced.

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