Tesla has been talking about launching new “more affordable models” during the first half of the year. The first half of 2025 came and went without new, cheaper models. Instead, Tesla claimed that the “first build” of the new model was produced in June, and it will launch later this year.

Many long-time fans are slamming the automaker for releasing a car with what they're calling a terrible value proposition. If sales aren't propped up by the cheap trims, they could go the way of the cheap Cybertruck.

Tesla has reignited a price war in the U.S. electric vehicle (EV) market with the launch of new budget models, posing a fresh challenge for Hyundai Motor and Kia, which had positioned themselves as affordable EV options.

In an announcement late on October 7, Tesla unveiled two new models following a mysterious preview that was posted just the day before on CEO Elon Musk’s website, X (formerly known as Twitter). The new cars,

"I'm definitely not buying them. For the same price, there are far more options I can get from local automakers," one user wrote on Weibo.

The axing of several features delivers a considerably lower price, though the move is mighty ironic for a company that's always been about the future and cutting-edge tech.

Tesla stock rose slightly early Wednesday after the company’s big reveal of two new “Standard” lower price models on Tuesday. Wall Street, curiously, doesn’t have much to say about the new vehicles, yet.

The electric carmaker's shares fell on Tuesday after the launch of new stripped-back versions of Tesla's best-selling Model Y and 3.