Tesla’s electric car Model Y has become the best selling car in the world. This has been revealed in a groundbreaking report. According to data from Jato Dynamics, the Tesla Model Y topped the global sales rankings in the first quarter of 2023, overtaking Toyota’s RAV4 and Corolla models. Tesla’s 2023 Model Y starts at $47,490 (roughly Rs. 39 lakhs), which is significantly higher than the 2023 Corolla ($21,550) and RAV4 ($27,575).
In the first quarter of this year, Tesla Model Y sold 267,200 units globally, compared to 256,400 Corolla and 214,700 RAV4 units. Tesla CEO Elon Musk also predicted in 2016 that the model would attract demand at the level of 500,000 to 1 million units per year. In 2021, Musk predicted that the Model Y would take the top spot in the world.
“The Model Y is going to be the best-selling car in the world,” he told investors. “It’s looking very likely that it will take the top spot next year.” Tesla remains the market leader in the electric vehicle (EV) market in the US, with more than 50 percent of cars sold, compared to 17 other automotive groups. According to Counterpoint Research, EV sales will represent 7 percent of all US passenger vehicle sales by 2022. That’s a pretty impressive statistic!
According to research analyst Abhik Mukherjee, Tesla is dominating the US EV market while other automotive giants such as Ford, General Motors, Stellantis, Volkswagen and Hyundai are struggling to provide strong competition. Additionally, with Tesla’s recent price cuts and all versions of Tesla’s Model Y being eligible for EV tax credit subsidies, it is expected that Tesla will capture even more market share, Mukherjee said.