(Reuters) -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.

MARKET REACTION:

Tesla shares fell 3% in afternoon trading.

The S&P 500 was down 0.4% while the Nasdaq fell 0.7%.

COMMENTS:

SETH GOLDSTEIN, ANALYST, MORNINGSTAR, CHICAGO:

“I think a sub-$40,000 price will help Tesla grow deliveries as it opens the Model 3 and Model Y up to more consumers who are not able or willing to pay up for a higher-priced vehicle.”

SHAY BOLOOR, CHIEF MARKET STRATEGIST, FUTURUM EQUITIES:

“It’s basically a pricing lever and not much a product catalyst. Tesla’s done this play before where they bring out

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