Tesla Unveils Under-$40,000 Versions of Its Top-Selling EVs (3)

Tesla Inc. introduced new versions of its top-selling models priced at under $40,000, making its main vehicles more affordable to counteract the loss of US incentives for electric cars.

The new standard versions of the Model 3 sedan and Model Y sport utility vehicle start at $36,990 and $39,990, Tesla’s website shows. Those starting prices are about 13% and 11% cheaper, respectively, than premium longer-range versions of each model.

Tesla shares fell 4.4% on Tuesday, giving up much of Monday’s gain stoked by social media posts from the company. The stock has risen more than 7% this year.

Tesla has ...