[RahulNagaraj]

According to the preliminary data collected by JATO Dynamics, the Tesla Model Y is on course to take the crown as the world's best-selling vehicle in 2023.

With just a small number of markets yet to release their 2023 sales figures, JATO Dynamics states that the Model Y is in an unassailable position after registering 1.23 million units of sales in 2023 - translating to a massive year-on-year increase of 64%. It also becomes the first EV to lead the global markets.



The preliminary data for 2023 also marks the end of a Toyota model occupying the top spot in the rankings. The Toyota Corolla and RAV4 models have occupied the model ranking in recent years. In 2023 though, the Toyota RAV4 came in second with 1.07 million units sold, while the Corolla occupied the third spot.

Coming back to the Tesla, the Model Y led the sales charts in both Europe & China - two of the world's largest EV markets.

Felipe Munoz, Global Analyst, JATO Dynamics, stated, "The increase in global sales of the Model Y is unprecedented, particularly for a vehicle in the top ten best-sellers. What Tesla has been able to achieve with the Model Y in such a short space of time is simply remarkable." He added, "The average retail price of a Tesla Model Y in November 2023 was 18% and 23% lower than the average cost of an EV in Germany and USA respectively. The price cuts over the course of the year combined with Tesla’s reputation as a reliable and competitive EV manufacturer, helped to fuel already high demand. As a result, Tesla is front of mind for many consumers looking to purchase an EV."

Talking about Toyota, Munoz mentioned, "Toyota has a strong presence worldwide, with the RAV4 (an SUV) and the Corolla (a compact car) making the brand attractive with a diverse offering. However, both models lack pure electric options, with only offer hybrid alternatives. While Toyota still experienced a strong year in 2023, the RAV4 and Corolla are simply unable to compete in the electric car market, which is becoming increasingly established and important across Europe and China."

Source: JATO Dynamics

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[Hayek]

Would be great if we could see all the top 20 models worldwide. Hats off to Musk and Tesla for having created a product that despite having far fewer variants and being far higher priced could dethrone the mighty RaV4 and Corolla.

The challenge Tesla faces is how far can you scale from here. Cars are lifestyle products and I don’t think you can have “One Ring to Rule them All”. The Model Y can at best double from here over the next few years and will struggle to move up further from that level. In the luxury segment, people care for fit and finish, which several other EVs from luxury marquees provide oodles of. And he probably needs some new products to target the mass segment in China, Europe and elsewhere.

But guess this is a moment to celebrate before getting to work on the next big thing.

[arunrajk81]

In the US the cost of model3/Y is in a funny situation as of now.

With current restrictions based on the location of sourcing raw materials of the battery pack, ModelY is eligible for $7500 Federal tax credit whereas model3 is not. So if you are eligible for the tax credit, you get modelY cheaper than model3.

[volkman10]

The 20 best-selling cars in the US in 2024 so far! Surprise to Evs, as sales tumble.

Chevrolet, Ford and Ram are still at the top of the table.

Last year, the Tesla Model Y was the best-selling vehicle in the world. So far in 2024, estimates that the small crossover will be ranked fourth in the US.




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