Tesla Model Y is now the best selling car in the world

For the first time ever, a fully electric vehicle – specifically the Tesla Model Y – is now the world’s best-selling car. According to analyst data from Jato Dynamics (published by motor 1), the Tesla Model Y has topped the global sales rankings in the first quarter of 2023, surpassing Toyota’s RAV4 and Corolla models. ($27,575).

Figures reported by Jato Dynamics show that the Tesla Model Y sold 267,200 units globally in the first quarter, while 256,400 Corolla and 214,700 RAV4 units were sold during the same period. That’s roughly a 69 percent year-over-year increase for the Model Y — a figure that Tesla’s meme-lord CEO Elon Musk would no doubt approve of. Musk is confident of the Model Y’s success even before its launch, it is estimated back in 2016 that it would attract demand “in the level of 500k to 1 million units per year”.

While it’s a milestone for Tesla, the Model Y win isn’t particularly surprising. Tesla doesn’t provide exact details of the sale, but informed that that more than 400,000 Model Y and Model 3 vehicles were delivered to customers in the first quarter of 2023. Electric vehicle development by competing car makers also remains slow, allowing Tesla to continue to dominate the EV market. And Tesla has consistently slashed the price of most of its lineup over the past few years, including the Model Y, which may have contributed to the sales increase.

We should note that while a Tesla EV is currently the world’s best-selling vehicle, the company certainly isn’t the largest global automaker overall. Volkswagen, Toyota, General Motors and Ford all report higher revenue and unit sales by comparison. And according to car logoTesla doesn’t even rank among the top 10 largest global carmakers, ranking 19th for 2022.

Musk previously predicted that the Model Y would claim the top spot in 2021, telling investors: “We think the Model Y will be the best-selling car or vehicle of any kind in the world. maybe next year. I’m not 100 percent sure next year, but I think it’s highly likely… more likely than not, that the 2022 Model Y is the best-selling car or truck in the world.’