Until now, Preliminary data from last year suggested that the Tesla Model Y would end up becoming the best-selling vehicle worldwide. However, current official data supports this and even raises the quantity of American electric SUVs that have been delivered.
There was still unknown regarding Tesla’s final statistics and, most importantly, Toyota’s registration numbers. They’ve confirmed that the Model Y will be the most popular model worldwide in 2023 because of something that happened tonight.
6.4% more Model Ys were sold this year than the previous, totaling 1.23 million units. Something that not only puts it at the top of the sales charts but also marks the first time an electric vehicle is at the top of the worldwide sales charts.
That has a lot going for it for several reasons. To start, the fact that its average price is far higher than that of its primary competitors adds to the fact that it is positioned inside an industry—the electric vehicle industry—that has specific restrictions regarding its ability to affect the market, sales network, freight network, etc.
Market-wise, China has emerged as one of the main drivers of Tesla’s expansion; in 2023, the massive Asian nation purchased 456,394 Model Y cars, outpacing the 406,507 units sold in the US. Europe, with 255,185 units, is in third place. Just four years have passed since the Model Y’s sales started in the US and then progressively spread to other countries. Thus, its sales worldwide are even more recent.
The chart illustrates how SUV sales have propelled Tesla’s expansion, with the Model 3 continuing to be a minor player with fewer than half of the Model Y units sold (509,516 units), alongside the Model S and the Model Y has overtaken the Toyota RAV4, which was the second-best-selling vehicle globally in 2022 with 1.07 million units sold, a 4.9% increase year over year.
The Toyota Corolla, which has three body styles—saloon, hatchback, and Touring Sport—is ranked third. It sold 1.01 million units at the end of the year, which means it lost its top spot in sales, which it had held since 2022, due to a 9.8% decline in sales.
Tesla Model Y, room for improvement
These numbers are also a part of a downward pricing trend that should increase Model Y’s competitiveness.
As we all recall, Tesla cut its prices in Europe two weeks ago by 8%. As a result, their Standard version’s price was 42,900 euros, while the Long Range Dual Motor’s price was 49,990 euros. According to this trend, the Model Y’s price in Spain has dropped by 21.8% in just two years.
One important point to keep in mind is that the model in question is nearing the end of its first generation, and a new version is expected to be released this summer. An attractive, and high-quality interior makeover that, like the Model 3, ought to produce an even more competitive proposition while keeping costs the same.