Tesla’s cheaper Model Y faces tough competition in Europe

TESLA'S LOWER-PRICED versions of its staple Model Y SUV and Model 3 sedan face an uphill battle in the region where Elon Musk’s company arguably needs help the most: Europe.

- ALESSANDRO PARODI

Unveiled on Tuesday, the $39,990 Model Y Standard and $36,990 Model 3 will join a European market already crowded with budget EVs, with European and Chinese brands offering more than a dozen models below $30,000—and more to come. That’s in contrast to the US, where only one EV, the Nissan Leaf, falls into that price range.“The competition in this market is fierce,” said Sam Fiorani, VP at research firm AutoForecast Solutions, adding the array of EVs in Europe priced below Tesla’s che