Tesla unveils lower-cost Model Y in drive to reignite sales

(Reuters) -Tesla unveiled a more affordable version of its best-selling Model Y SUV on Tuesday starting at $39,990, as the electric-vehicle maker seeks to reverse falling sales and waning market share amid rising global competition. 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. Late last year, Musk said the vehicle would be priced below the "key threshold" of $30,000 including U.S. EV tax credits.