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Tesla Inc (TSLA) to End Door-to-Door SolarCity Sales

SolarCity will switch focus to online sales

By William White, InvestorPlace Writer

http://bit.ly/2pAEgPU

Tesla Inc (NASDAQ:TSLA) is changing how SolarCity handles making sales to customers.

Tesla Inc (TSLA) to End Door-to-Door SolarCity Sales
Source: Shutterstock

Rather than focus on door-to-door sales, SolarCity will be shifting toward online ones. This is part of Tesla Inc’s plans to keep reduce costs at the solar panel company while still working to increase sales.

Due to Tesla Inc’s change in how SolarCity handles sales, it will no longer need its roughly 1,000 door-to-door sales employees. The company plans to move these employees to new positions and will allow them to take interviews for other jobs.

SolarCity’s  door-to-door salesmen worked in states where the company had most interest, such as California. However, those markets are maturing and less sales are being made. Online sales will likely help Tesla Inc reach new markets with the solar panels. It also continues to plan selling them through Best Buy Co Inc (NYSE:BBY) and Home Depot Inc (NYSE:HD), reports Reuters.

Tesla Inc is very close to launching its new solar roof tiles through SolarCity. The company originally planned to have the tiles available for order in April, but wasn’t quite ready. However, it plans to start taking orders soon.

SolarCity has also changed what solar panels customers will be able to order at launch. It originally planned to release all four tile variants at the same time. This has changed to only two of the tile options being available in the near future.

Elon Musk, the CEO of Tesla Inc, says that it will now be holding back two of the SolarCity tile options until early 2018. Musk did not specify which of the tiles options were being held back for the later release, Business Insider notes.

TSLA stock was up 3% as on noon Monday.


Article printed from InvestorPlace Media, https://investorplace.com/2017/05/tesla-inc-solarcity-tsla/.

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