Tesla unveiled more affordable versions of its best-selling Model Y SUV and its Model 3 sedan on Tuesday 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 fell 2.1% in afternoon trading.

Chief Executive Elon Musk has for years promised mass-market vehicles, though last year he canceled plans to build an all-new $25,000 EV, Reuters first reported. 4

Late last year, Musk said the vehicle would be priced below the “key threshold” of $30,000 including US EV tax credits.

In the United States, prices effectively rose by $7,500 at the end of last month, when the credit ended . That helped goose quarterly sales to a record, but expectations are that they will slow

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