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Tesla Model Y gets tag of world’s 1st best-selling EV
The
Tesla Model Y
is now the first all-electric car to be hailed as the world's best-selling automobile, a study reported.According to statistics from
Jato Dynamics
, Tesla Model Y topped Toyota's RAV4 and Corolla models in terms of global sales in the first quarter of 2023. According to The Verge, the 2023 Model Y starts at $47,490, which is much higher than the 2023 Corolla ($21,550) and RAV4 ($27,575). In comparison to the 256,400 Corolla and 214,700 RAV4 sold in the first quarter of this year, the Tesla Model Y sold 267,200 units internationally.Also, in 2016, Tesla CEO Elon Musk foresaw the event and said that this model will see demand in the 500k to 1 million units per year level. Musk claimed that the Model Y will overtake all other vehicles in the world in 2021. "We believe that the Model Y will be the most beloved automobile sold worldwide. Very likely next year,” he had previously told investors. "I'm not absolutely confident next year, but I believe it's extremely plausible."
Having a more than 50% market share and more vehicles sold than all other automakers combined, Tesla continues to dominate the US
electric vehicle
(EV) industry. According to Counterpoint Research, EV sales will rise to 7% of total passenger car sales in the US in 2022.Additionally, Mukherjee continued, "It is anticipated that Tesla will acquire an even bigger market share given the recent price reductions by Tesla and the fact that all variants of the Model Y are now qualified for the EV tax credit subsidy.”