"You can now buy a Tesla in North America via your phone in about 1 minute."

Online Only

Tesla is closing most of its physical stores, except for a small number in "high-traffic locations" that will serve as "showcases and Tesla information centers," according to an official update.

The news comes alongside Tesla's announcement that the long-awaited $35,000 Model 3 is finally here. In order to dip the price that low, Tesla argues that it had to shift all of its sales to online only.

Incoming Layoffs

To make the move sound more appealing, Tesla promises that it's easier than ever to buy one of their cars.

"You can now buy a Tesla in North America via your phone in about 1 minute," reads the update. Worldwide online sales will be available "soon."

What isn't clear right now is how many Tesla employees will soon lose their jobs. In January, Tesla laid off seven percent of its entire work force as a result of the company's efforts to streamline its finances.

Looking Good

Things have been looking good recently for the electric car company. Tesla was actually profitable in the second half of 2018 — although Musk admitted yesterday that streak would likely be over by the end of the first quarter of this year.

Tight margins aside, Tesla still has the daunting task of making fast and efficient deliveries a reality. As of right now, delivery times for a brand new Model 3 vary significantly depending on your geographical location.

READ MORE: Tesla will close most of its stores and only sell cars online [The Verge]

More on Tesla: Tesla Finally Slashes Model 3 Price to $35,000

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