Tesla CEO Elon Musk had previously predicted that the Model Y could become the world’s best-selling car, as noted by Teslarati. It looked highly ambitious at that time, given that the Model Y is an expensive all-electric car.
Surprisingly, CEO Musk’s prediction has now become a reality. According to Felipe Munoz, an Automotive Industry Specialist at JATO Dynamics, the Tesla Model Y seems to have dominated the global passenger car sales ranking in Q1 2023.
Tesla Model Y’s momentum
JATO Dynamics data revealed that the Tesla Model Y advanced as the world’s best-selling car in the first quarter of 2023. It marked the first time that an electric vehicle has earned this feat.
JATO Dynamics analyst Felipe Munoz complied and provided the date for Motor1, demonstrating that the Model Y sold 267,200 in Q1 (up 69% YoY).
Notably, the data was obtained from 53 markets and estimates for the rest of the globe. That remarkable sales results advanced the Tesla Model Y’s spot ahead of the Corolla (256,400). In addition, the Tesla EV is also substantially ahead of the other top-five cars, including the Hilux (214,700), RAV4 (211,000), and Camry (166,200), which are all from Japanese automaker Toyota.
As per the report, the Model Y fared especially well in significant markets, including China, the US, and Europe. Meanwhile, the second best-selling model Toyota Corolla, sales appear to have decreased by 10% in the US and 29% in China.
Given its high average selling price, it is indeed an impressive feat for the all-electric crossover. That said, the Model Y has been gaining ground in the world’s vehicle industry.
The JATO expert observed that the Tesla Model Y might benefit from the fact that it is a part of two current market groups that are incredibly popular: crossovers and all-electric vehicles. However, significant competitors like the Toyota Corolla have the benefit of being sold in almost every nation in the world.
See Also:
- Tesla Model Y leads the Chinese all-electric SUV market in March
- Tesla Model Y persists in dominating China’s SUV market in Q1 2023
- Norway: Plug-in EV market grew 18% YoY in March 2023, Tesla Model Y leads
- Tesla revamps Model Y, code-named “Juniper”
- Toyota crumbles Tesla Model Y, saying it’s a “work of art”
Tesla has repeatedly demonstrated that EVs are becoming increasingly popular and perhaps now that an EV from a startup that did not even exist at the beginning of the century is the best-selling car globally. In the upcoming months, the global rankings of the best-selling cars in the auto industry will undoubtedly be fascinating.
