The Tesla Model Y is the first EV to become the best-selling car in the world

For the first time ever, an all-electric car – specifically the Tesla Model Y – is now the best-selling car in the world. According to Jato Dynamics analysts (published by Engine 1), the Tesla Model Y has surpassed the Toyota RAV4 and Corolla in the top global sales rankings in the first quarter of 2023. This is especially impressive given that the 2023 Model Y starts at $47,490, more than the 2023 Corolla ($21,540). ) and the RAV450 ($27,575).

Figures reported by Jato Dynamics show that Tesla Model Y sold 267,200 units worldwide in Q1, compared to 256,400 Corolla and 214,700 RAV4 units sold in the same period. That’s about a 69 percent year-over-year increase for the Model Y — a figure Tesla CEO Elon Musk would surely approve of. Musk was confident of the Model Y’s success before it even went on sale, predicting back in 2016 that it will attract demand “in the range of 500,000 to 1 million units per year”.

While this is an important step for Tesla, the Model Y’s victory is not surprising. Tesla does not provide a complete breakdown of sales, however he reported that more than 400,000 Model Y and Model 3 vehicles had been delivered to customers in the first quarter of 2023. The distribution of electric vehicles by rival automakers also remains slow, allowing Tesla to continue to dominate the EV market. And Tesla has often cut prices on most of its lineup in recent years, including the Model Y, which could help boost sales.

We should note that although the Tesla EV is the best-selling car in the world, the company is not the largest company in the world overall. Volkswagen, Toyota, General Motors and Ford report relatively high revenue and unit sales. And according to Car LogosTesla doesn’t even make it into the world’s top 10 automakers, falling to 19th place by 2022.

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