Major changes are afoot at Tesla.

Not only did Elon Musk's electric car company finally release its long-awaited and very affordable Model 3 car, the brand also just dramatically lowered the prices of Models S and X by thousands of dollars. 

That means the company is officially in cost-saving mode—what with Ontario rebates on new electric cars a thing of the past—which explains why they've just announced they're closing nearly all their stores. 

The car company has said it will slowly start phasing out physical dealerships in North America and shift to online sales. 

The result in those closures: an average decrease of vehicle prices by about 6 percent, says Tesla's most recent blog post.

There are only 11 Tesla stores in Canada, four of which are in the GTA. 

According to Tesla, customers who purchase their vehicles online will be eligible for a one-week return (or under 1,000 miles) policy. 

"Quite literally, you could buy a Tesla, drive several hundred miles for a weekend road trip with friends and then return it for free," says Tesla. 

Only a "small number of stores in high-traffic locations" will continue to operate, though whether or not that includes Toronto's stores at Yorkdale, Sherway Gardens, or on Lawrence Ave. East has yet to be seen. 

Store closures are expected to happen over the next few months.