- Tesla Model Y: The World's Best-Selling Model in 2023
Tesla achieved a remarkable feat in 2023 when its Model Y became the best-selling vehicle in the world. Of course, this is a first for an all-electric model.
That's what we learned from preliminary information compiled by JATO Dynamics,which found that that Tesla sold 1.23 million units of its Model Y between January 1, 2023 and December 31, 2023.
This represents a 64-percent increase in sales compared to 2022.
And which vehicle did the Tesla Model Y beat? If you picked the Toyota RAV4, you were right. According to JATO Dynamics, the Japanese giant sold 1.07 million of its SUVs in 2023. Toyota also sold 1.01 million Corollas, the best-selling vehicle in history.
China and Europe were the best markets for the Model Y. We're talking about 456,000 units for the Chinese market, while 255,000 units were delivered to about 30 European countries.
A major factor in the car's success has been the price reductions it has enjoyed. According to JATO analysis, the cost of a Model Y was 18% lower than other electric vehicles in Germany last year. In the US, the difference was 23%.
For buyers' wallets, this is an important factor.
Tesla also enjoys a good reputation among electric vehicle consumers, who recognize the company's expertise in the field.
The Model Y accounted for two thirds of Tesla's sales in 2023.
Domestically, one out of every two Tesla vehicles sold in 2023 was a Model Y (18,500 out of 36,900). The Model 3 sedan came in second with about 16,000 units.
It will be interesting to see what happens in 2024. The fact that an electric model is in first place suggests that global demand will continue to grow, even if there is a slowdown in certain markets.
We'll also have to wait and see if this result causes other manufacturers to ease up on their electric transition. If consumers start choosing more and more electric vehicles on a massive scale, you can be sure that the supply will only improve, and very quickly.