Tesla Saves Sales: Musk's Company Just Released a Cheaper Version of Popular Model

Tesla's quarterly sales fell 13 percent - to the lowest level in almost three years , which is due to the reaction to Elon Musk's policies and growing global competition - Reuters reminds.

The new version of the Model Y, with rear-wheel drive, costs about $ 44,990 . Including the U.S. tax credit of $ 7,500, the new vehicle will cost $ 37,490, Reuters reports.

The agency previously reported that Tesla's plans for an affordable car include a stripped-down version of its most popular electric SUV, but the start of production has been delayed .

The all-wheel drive version of the Tesla Model Y in the US has not seen any cost adjustment and is priced at $48,990.

The company is scheduled to report second-quarter earnings in July.