NEW YORK – Tesla rolled out new, cheaper versions of two of its electric car models on Tuesday in hopes the offerings will help revive flagging sales.

The new Model Y, costing just under $40,000 with a stripped-down interior, follows a slump in Tesla sales covering most of the past year due to anti-Elon Musk boycotts targeting the company. The company is also offering a cheaper version of its Model 3 for under $35,000.

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The company is under intense pressure to lift sales but is facing big challenges. In addition to anti-Musk backlash, it is contending with a likely hit to demand after a federal tax credit worth as $7,500 for EV purchases expired at the end of September.

Tesla stock fell more than 2.5% to $441.08 in late afternoon trading Tuesday. It had closed Monday

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