Tesla unveiled more affordable versions of its best-selling Model Y SUV and its Model 3 sedan today at $39,990 and $36,990, respectively, as the electric-vehicle maker seeks to reverse falling sales and waning market share amid rising competition.

Tesla shares were down 4% shortly before the close.

Both versions, called Standard, offer 321 miles of range and less powerful acceleration than the current higher trims called Premium. They can be ordered immediately, with deliveries set to start between December 2025 and January 2026 for many locations, Tesla’s website showed.

The Standard versions do not come with Autosteer, Tesla’s driver assistance system, or touchscreens for rear passengers. Tesla has also removed the LED lightbar in the cheaper Model Y. Both come with textile seats, wit

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