(CNN) — Tesla has unveiled the long-promised cheaper versions of its two main cars, dubbed the Model 3 Standard and Model Y Standard, after the expiration of the $7,500 tax credit for American buyers of most of its cars.

Tesla said the new Model 3 Standard will cost $38,630, including destination and order fees, and would be available in December or January. Model Y Standard will have a starting price of $41,630, including destination and order fees, and would be available in November or December.

The Model 3 Standard is $5,500 less than the “Premium” version, which had previously been the least expensive model, while the Model Y Standard is $5,000 less than the Premium version. The new cars were unveiled on Tesla CEO Elon Musk’s social media platform, X .

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