Tesla model Y emerges as the world’s best-selling electric vehicle

The Tesla Model Y has achieved a significant milestone by becoming the first electric car to claim the title of the world’s best-selling car. Jato Dynamics, a leading provider of automotive data, reports that the Tesla Model Y outperformed Toyota’s popular RAV4 and Corolla models to secure the top position in global sales rankings during the first quarter of 2023.

According to the study, Tesla sold an impressive 267,200 units of the Model Y in the first quarter of this year. In comparison, Toyota’s Corolla recorded sales of 256,400 units, while the RAV4 achieved 214,700 units sold.

As early as 2016, Tesla CEO Elon Musk had projected strong demand for the Model Y, estimating annual sales in the range of 500,000 to 1 million units. In 2021, he further predicted that the Model Y would become the best-selling vehicle worldwide. Speaking to investors, Musk stated, “We think Model Y will be the best selling car or vehicle of any kind in the world. Probably next year. I’m not 100 percent certain next year, but I think it’s quite likely.”

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The 2023 Model Y carries a starting price of $47,490 (approximately ₹39,00,00), which is notably higher than the 2023 Corolla priced at $21,550 and the RAV4 priced at $27,575.

The sales of electric vehicles have been on the rise in the United States, accounting for 7% of total passenger vehicle sales in the country, according to Counterpoint Research.

Recently, Tesla made slight price adjustments to its Model S, X, and Y electric vehicles in the US. All versions of the Model S and X experienced a $1,000 price increase, while the price of all Model Y variants was raised by $250. These changes are part of Tesla’s ongoing pricing strategy in response to market conditions and factors influencing the automotive industry.