Mobility Portal, Spain
Date: January 26, 2024
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By Mobility Portal

With 1.23 million units sold worldwide, could the Tesla Model Y be the next bestseller?

The Model Y is in an "unreachable position" due to its sales volume, with 1.23 million units. Following closely are the Toyota RAV4 with 1.07 million registrations and the Corolla with 1.01 million.
Tesla Model Y

The Tesla Model Y would be the best-selling model in 2023 worldwide, with 1.23 million units, representing a 64 percent increase compared to a year ago.

These numbers would allow the American model to become the first electric vehicle in history to top the global rankings, according to preliminary data collected by the consultancy Jato Dynamics.

The data is provisional as “a small number of markets” have yet to publish their statistics.

But it is undeniable that the Model Y is in an “unreachable position” due to its sales volume, with 1.23 million units.

Following are the Toyota RAV4 with 1.07 million registrations and the Corolla with 1.01 million units.

Felipe Muñoz, global analyst at Jato Dynamics, described what this model has achieved in “such a short time” as “extraordinary.”

“The increase in global sales of the Model Y is unprecedented, especially for a vehicle among the top ten best-selling,” he added.

Muñoz considered that the combination of price cuts with Tesla’s reputation as an electric vehicle manufacturer has helped drive high demand.

The truth is that its price is 18 to 23 percent lower than the average cost of vehicles of this type in Germany and the United States, respectively.

“As a result, Tesla is on the minds of many consumers looking to buy an electric vehicle,” Muñoz stated.

Tesla Model Y “dominates” the Chinese and European markets

The Tesla Model Y is the most popular car in the European continent.

It is the first time that a fully electric model has won this award, after surpassing 255,000 units across the 30 registered European markets, surpassing the Dacia Sandero by about 19,000 units, which occupies the second position, and other high-volume selling models such as the Peugeot 208 and the Volkswagen T-Roc.

Meanwhile, Tesla increased its deliveries in China by 45 percent in 2023, with around 456,000 units, according to data from the China Association of Automobile Manufacturers (CAAM).

In addition, data provided by the American company shows that the Model Y accounted for two out of every three Tesla deliveries worldwide in 2023, reaching global sales of over 1.8 million vehicles.

Tesla dethrones Toyota

Toyota had been the leader in the global vehicle ranking in recent years, due to the sales volume of the RAV4 and the Corolla, something that will end in 2023 due to the rise of the Model Y, according to Jato Dynamics.

Toyota has a strong presence worldwide with the mentioned models, which makes the brand attractive with a diverse offer.

“However, both models lack purely electric options and only offer hybrid alternatives,” acknowledges Muñoz.

Nevertheless, the Toyota RAV4, with 1.07 million units sold worldwide, and the Toyota Corolla, with 1.01 million units, will occupy the second and third positions in the ranking.

Read more: Bestsellers: What are the top 10 favorite EV brands in Europe?

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