The Tesla Model Y has reportedly become the world’s bestselling car, making history as the first all-electric vehicle to achieve this milestone. According to data from Jato Dynamics, the Model Y surpassed popular Toyota models, including the RAV4 and Corolla, in global sales rankings during the first quarter of 2023.
The starting price of the Tesla Model Y is $47,490, significantly higher than the 2023 Corolla priced at $21,550 and the RAV4 at $27,575, as reported by IANS citing information from The Verge. In the first quarter of 2023 alone, Tesla sold 267,200 units of the Model Y worldwide, surpassing the Corolla’s 256,400 units and the RAV4’s 214,700 units.
Back in 2016, Tesla CEO Elon Musk predicted that the Model Y would generate a demand of 500,000 to 1 million units per year. In 2021, he reiterated his belief that the car would claim the top spot globally, stating, “We think Model Y will be the best-selling car or vehicle of any kind in the world. Probably next year.”
Tesla currently holds the highest market share for electric vehicles (EVs) in the US, with over 50% dominance. While other automotive giants like Ford, General Motors, Stellantis, Volkswagen, and Hyundai struggle to compete, Tesla continues to dominate the US EV market, as stated by research analyst Abhik Mukherjee to IANS.
Mukherjee also mentioned that with Tesla’s recent price cuts and all versions of the Model Y becoming eligible for the EV tax credit subsidy, it is expected that Tesla will further increase its market share.
In previous reports, it was revealed that Elon Musk, the owner of Tesla, is actively searching for a location to establish a new car manufacturing unit, with India being a prominent contender. Musk plans to announce his decision regarding the new manufacturing unit by the end of this year.
