That's old news.
Yeah, just saw that. First announced shutting most of them, to use the cost savings to lower car prices by 6% to be more competitive, then reverse course, to only close 10% of them, and announce a price increase of 3% instead to be able to keep them open. Wow!
I think it's called 'pin-ball' style management
As long as he doesn't get tired of it, like he has on his other less-than-profitable ventures that don't live up to expectations - Solar City, and his solar roof-tile/power-wall comes to mind. Buy's out Solar City, then cancels their deal offering them through Home Depot stores (I remember seeing the PowerWall on display, and the Solar City guy in his Home Depot kiosk, talking to customers), to try to sell them out of Tesla Car showrooms... "Hey now that you have test-driven that Model 3, how's about some nice solar panels on your house to go with it? Or how about signing up for our solar roof tiles - it's only $50K to do an average house, and so far we've installed twelve roofs in two years." Whaaaaaaat?????
Tesla reported a $702 million dollar loss in the first quarter of this year. Ouch!
And moving equity from Space-X to shore up Tesla Motors would be like using one credit-card to make the payment due on another credit-card - though Musk has already used the 'Space-X credit card' to pay for his Boring Co.'s first test tunnel - which raised some Space-investor eyebrows when they found out, as it was done without any board OK. Space-X hasn't been profitable since late 2017, has $250 million in outstanding loans, is laying off 10% of its workforce, and is looking hard for another $500 million in funding in Jan of this year. That said, they have already raised $1.2 billion for Starlink - their 'Internet from Space' project. Get that off the ground, and generating revenue, and the whole game changes..
I like Musk. He's a visionary, and we need more of them. But he needs to hire industry-experienced leaders to run and manage the day-to-day operations of his ventures, and stick to dreaming up his future-forward ideas, like selling bricks made out of the dirt discarded when his 'Boring" company digs tunnels - genius!
2015 i3 Rex, Capparis White, Tera World, Technology & Driving Assistant, Parking Assistant, Harman Kardon Audio System, 19 inch 427 wheels, EVoInnovate EVSE