Tesla's cheaper Model Y faces crowded field in Europe

(Reuters) -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. 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. "The competition in this market is fierce," said Sam Fiorani, vice president at research firm AutoForecast Solutions, adding the array of EVs in Europe priced below Tesla's cheaper Model Y and Model 3 could hamper their prospects.