Dan Ives, an analyst at Wedbush, said he was disappointed that the EVs were only about $5,000 cheaper than the next trims of the models. Tesla rolled out “affordable” versions of its best-selling Model Y SUV and its Model 3 sedan,

Tesla introduced a “standard” Model Y on Tuesday—lacking features like vegan leather seats and a screen in the back seat—which the electric vehicle maker hopes will draw in budget-conscious buyers.

Major questions include the car's price, driving range and efforts to strip down costs.