Tesla rolled out “affordable” versions of its best-selling Model Y SUV and its Model 3 sedan, but the starting prices of $39,990 and $36,990 were too high, some said, to attract a new class of buyers to the electric vehicle brand.

CEO Elon Musk has touted the car as a way to tap a wider swath of buyers, saying last year that a price below $30,000, after incentives, was the key. Tesla is trying to reverse falling sales of its aging lineup amid rising competition in Europe and China, and the loss of a $7,500 U.S. tax credit. The new cars drop some premium finishes and features but offer driving ranges above 300 miles.

Tesla’s stock closed down 4.5% and Tesla bull Dan Ives, an analyst at Wedbush, said he was disappointed that the cars were only about $5,000 cheaper than the next-level trims

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