Tesla Model Y Was World’s Best-Selling Car in Q1

Elon Musk has said that the Tesla Model Y will be the best-selling car in 2023, and there is every reason to believe he was right. The electric SUV was the best-selling vehicle in Q1 this year, dethroning the longtime leader, Toyota Corolla.

Tesla Model Y was the world’s best-selling car in Q1 2023

After Tesla introduced Model Y, Elon Musk prophesied that it would be the best-selling car in the world. In recent years, the company has been able to ramp up production of the compact SUV to a scale that makes a huge difference. It is worth noting that this is important not only for Tesla but for the whole world. According to JATO data for 53 markets worldwide, as well as information and estimates from other key markets, Tesla Model Y was the world’s best-selling vehicle in the first quarter of this year. It is also the first time in automotive history that an electric vehicle has achieved such huge success.

Tesla has achieved an ambitious goal

In August 2022, Musk said at the annual shareholder meeting that Model Y would be the world’s best-selling car in 2023. Many people considered this statement as too optimistic, so they did not have high hopes that it would be so. In early 2023, Tesla strategically lowered the price of Model Y, spurring strong demand and resulting in an impressive achievement.

Tesla Model Y was the third best-selling car in 2022

In 2022, Model Y became the third best-selling car in the world. It was an impressive result that showed the strength of the electric vehicle brand. According to data from 152 markets, Tesla sold 747,500 Model Y units, up 91% from 2021. The car trailed Corolla by 244,000 units and RAV4 by 268,000. In early 2023, the gap between these vehicles began to narrow as Tesla continued to cut prices.

Tesla Model Y increased sales by 69% YoY

Data collected for the first quarter show the Tesla Model Y in the lead with sales of 267,200 units. This is about 69 percent more than in the same period last year. The car is especially popular in China, the United States, and Europe.

Tesla Model Y dethrones Toyota Corolla

Toyota Corolla, which for many years was one of the most popular cars in the world, began to lose ground. In 2023, the car has recorded a downward trend in sales. In Q1 2023, 256,400 units were sold (including all body styles). This includes a 29% drop in China and a 10% drop in the United States.