Tesla Model Y beats Toyota Corolla to become best-selling car globally

January 30, 2024January 29, 2024 John Mahoney 2570 Views model y, rav4, Tesla, Toyota Corolla

The Tesla Model Y was the world’s best-selling vehicle in 2023 with more than 1.23-million delivered in just 12 months.

Just as remarkably, the Tesla Model Y also took the coveted number 1 spot in both Europe and China.

And signalling huge repercussions for legacy car-makers, preliminary JATO data indicated global sales of the Model Y were on average up an impressive 64 per cent year-on-year to the end of 2023.

The Tesla Model Y now accounts for two out of three Tesla deliveries.

The Toyota Corolla dominated the global sales charts in 2022 but this year the long-lived hatch had to make do with third place, with 1.01 million deliveries.

In second place was the Toyota RAV4, commanding an impressive 1.07 million share of global markets. No douct Toyota execs will still be shocked at just how far off both cars are to the Tesla Model Y’s performance.

Incredibly, it has only been just two decades since Tesla was founded back in 2003.

Some commentators will attribute the Model Y’s success and popularity with the US car-maker’s aggressive pricing tactics that has been described as triggering the “race to the bottom” in China.

Commenting on the Tesla Model Y taking the top spot, Felipe Munoz, Global Analyst at JATO Dynamics, said:

“The average retail price of a Tesla Model Y in November 2023 was 18 per cent and 23 per cent 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.”