Tesla Model 3 Has Become The Best-Selling Premium Sedan In The World 

Tesla has announced that the Model 3 has now become the best selling premium sedan in the world-beating out the BMW 3 Series and the Mercedes E-class becoming the leading executive sedan in the world. Particularly, exports from China of the Model 3 which is being manufactured in the Shanghai plant has propelled sales of the vehicle. This comes after the Model 3 in the last couple of years became the best selling electric car in the world. 

"About three and a half years into its production, and even without a European factory, Model 3 was the best-selling premium sedan in the world, outselling long-time industry leaders such as the 3 Series and E Class. This demonstrates that an electric vehicle can be a category leader and outsell its gas-powered counterparts," said Tesla in a statement while announcing its Q1 2021 earnings where it reported $10 billion in revenue. 

The Model 3 was unveiled for the first time in 2015 

Tesla revealed that Shanghai Gigafactory ramped up production of the Model 3 in the second half of 2021. It also started to export the Model 3 from China to Europe and APAC markets which have helped improve the deliveries. Tesla also believes that the Model Y can replicate the success of the Model 3. 

"We believe Model Y can become not just a category leader, but also the best-selling vehicle of any kind globally," said the world's most capitalised automaker. 

Tesla is also expected to be launching the Model 3 in India imported from China

This comes on the back of what its co-founder and CEO Elon Musk had said earlier. He had stated that he saw Tesla could be delivering as many as a million Model Y vehicles per year. SUVs have become the best selling category in the automotive market and the Model Y is basically an SUV based on the Model 3 and shares are a lot of components with it.