In an unprecedented move, the Tesla Model Y – an all-electric vehicle – has ascended to the position of the world’s top-selling car.
Detailed figures from Jato Dynamics, as reported by Motor1, reveal that the Tesla Model Y has surpassed both Toyota’s Corolla and RAV4 models in global sales for the first quarter of 2023.
The Model Y’s dominance is all the more noteworthy given its starting price of $47,490 for 2023, a stark contrast to the 2023 Corolla ($21,550) and RAV4 ($27,575).
During Q1, the Model Y’s global sales reached 267,200 units, outperforming the Corolla’s 256,400 and RAV4’s 214,700 units.
Representing a 69 percent year-on-year increase for the Model Y, Tesla’s CEO, Elon Musk, is sure to celebrate this success.
Musk’s prediction back in 2016 that the Model Y would draw “in the 500k to 1 million unit per year level” seems to be materializing.
The Model Y’s triumph hardly comes as a surprise, considering Tesla’s delivery of over 400,000 Model Y and Model 3 vehicles to customers in Q1 of 2023. Coupled with slow-paced EV development by rivals, Tesla continues to dictate terms in the EV market.
Moreover, repeated price cuts across its lineup, including the Model Y, might have fueled the sales surge.
However, Tesla, despite boasting the world’s bestselling vehicle, isn’t the largest global automaker. Giants like Volkswagen, Toyota, General Motors, and Ford outshine Tesla in terms of revenue and unit sales.
In fact, according to Car Logos, Tesla isn’t even among the top 10 global car manufacturers, ranking 19th in 2022.
Back in 2021, Musk envisioned the Model Y as the world’s bestseller, stating, “We think Model Y will be the best selling car or vehicle of any kind in the world. Probably next year. I’m not 100 percent certain next year, but I think it’s quite likely… more likely than not, that 2022 Model Y is best selling car or truck… in the world.”
Although it didn’t meet that target, it ranked third globally in 2022, and sixth in America’s top 10 list, standing its ground against trucks and full-size SUVs.
The Model Y also topped charts in Europe and California, and came fourth in China despite facing regulatory hurdles and safety recall issues.