On October 8 (it's a bit more natural to state the specific day without "Tuesday" since the date is already given, but if you insist on keeping the day info, it could be adjusted to “On Tuesday, October 8”), Tesla made a significant announcement: it was launching more budget - friendly variants of its two best - selling models, the Model Y and the Model 3, in the U.S. market. The Model Y is priced at $39,990, while the Model 3 comes in at $36,990.

In the face of an ever - intensifying competitive landscape in the automotive industry, Tesla is taking this step with the clear goal of reversing the downward trend in both its sales figures and market share. This strategy is a calculated move to stay relevant and attractive in a market where numerous competitors are vying for consumers' attention.

However, the market's reaction was not entirely positive. Following the unveiling of these new price points, Tesla's stock price took a hit, plummeting by more than 3%. This drop reflects the investors' concerns and uncertainties regarding how well these new, lower - priced models will perform in the market and whether they can truly turn around Tesla's current situation.