Tesla Model Y To Dethrone Toyota Corolla As World’s Best-Selling Car In 2023: Report

Automotive insight provider Jato Dynamics has released the global car sales preliminary data for the 2023 calendar year. As per the report, the Tesla Model Y is on the course to become the world’s best-selling car for 2023. The American EV maker has sold 1.23 million units of the electric SUV worldwide. In comparison, last year’s best-selling car, the Toyota Corolla, accounted for 1.01 million units in 2023 (including Levin and Lingshang) taking the third spot.

The second best-selling car in the world in 2023 was Toyota RAV4 at 1.07 million units. As per Jato Dynamics, this is the first time an electric vehicle is set to top the global ranking. This marks the end of Toyota’s top position in the model ranking, which for years had maintained the top spot. In fact, in 2022 both the first and the second spot were taken by the Toyota Corolla and RAV4 respectively.

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Felipe Munoz, Global Analyst at JATO Dynamics, commented, “The increase in global sales of the Model Y is unprecedented, particularly for a vehicle in the top ten best-sellers. What Tesla has been able to achieve with the Model Y in such a short space of time is simply remarkable.”

While a small number of markets are yet to release their sales figures for 2023, preliminary data collected by JATO Dynamics is very much in favour of the Tesla Model Y, which has seen a 64 per cent volume growth, year-on-year. The preliminary data accounts global light vehicle sales in 2023, covering all major markets including the US, Europe, China, and India. The final report will be published in the second quarter of 2024.

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Sharing his views on the reason for Toyota losing to Tesla Munoz added, “Toyota has a strong presence worldwide, with the RAV4 (an SUV) and the Corolla (a compact car) making the brand attractive with a diverse offering. However, both models lack pure electric options, with only offer hybrid alternatives. While Toyota still experienced a strong year in 2023, the RAV4 and Corolla are simply unable to compete in the electric car market, which is becoming increasingly established and important across Europe and China.”

Jato also found that as per Tesla’s official delivery data, the Model Y accounted for two in three deliveries by the company in 2023.