Back in 2016, Tesla CEO Elon Musk estimated that the model would attract demand for “500,000 to 1 million vehicles per year.”
UPDATE – Sat 5/27/23 10:55am
New Delhi: The Tesla Model Y has become the first all-electric vehicle to claim the title of the world’s best-selling car, according to a report.
According to data from Jato Dynamics, the Tesla Model Y will surpass Toyota’s RAV4 and Corolla models to become the world’s top-selling model in the first quarter of 2023.
The 2023 Model Y will start at $47,490, according to The Verge, well above the 2023 Corolla ($21,550) and RAV4 ($27,575).
In the first quarter of this year, the Tesla Model Y sold 267,200 units worldwide, while the Corolla and RAV4 sold 256,400 and 214,700 units, respectively. Tesla CEO Elon Musk even estimated in 2016 that the model would attract demand for “500,000 to 1 million vehicles a year.”
Musk predicted in 2021 that Model Y will occupy the number one position in the world.
“We think the Model Y is going to be the best-selling car or any kind of vehicle in the world. Probably next year. I’m not 100% sure next year, but I think it’s very likely,” he told investors.
Tesla remains the market leader in the US electric vehicle (EV) market with a more than 50% share and outsells the other 17 auto groups combined.
Electric vehicle sales will account for 7% of total U.S. passenger vehicle sales by 2022, according to Counterpoint Research.
“Tesla dominates the US EV market while other auto giants such as Ford, General Motors, Stellantis, Volkswagen and Hyundai are all struggling to provide strong competition,” said research analyst Abhik Mukherjee.
“Additionally, with Tesla’s recent price cuts and all versions of the Tesla Model Y being eligible for EV tax credits, Tesla is expected to take a higher market share,” Mukherjee added.
