New “Standard” trims return as Tesla’s most affordable Model 3 and Model Y options.Prices drop by up to $5,500, but key comfort and tech features are removed.Autopilot now costs extra, as Tesla shifts to a simpler lineup with “Premium” and “Performance” tiers.

Tesla is set to finally reveal its cheaper EV today, a stripped down version of its best-selling Model Y SUV.

Tesla clipped a bit from range, power, and the features list in order to shave thousands off each model's window sticker.

Tesla ’s promised cheaper Model Y is nearing a full reveal. Although it’s rumored to be only $5,000 cheaper than the current base model, it’ll still be the only new Tesla to start at under $40,000.

Tesla owners, beware: this car color lost over 50% of its value in just five years. Learn which shade to avoid if you care about resale value.

Known as the Model 3 and Y Standard trims, at $38,630 to start, the Model 3 Standard is now the least expensive Tesla you can buy ($5,500 less than the next cheapest model), while at $41,630, the Model Y Standard is $5,000 less than the next-step up Model Y. What was sacrificed to get to those bargain basement prices?

The refreshed go-fast Model Y went on sale in the United States just hours before the $7,500 tax credit ended.

Tesla announced the launch of cheaper versions of two of its electric vehicles Tuesday in hopes of reviving flagging sales.