According to foreign media reports, Tesla Model Y surpassed Toyota Corolla to become the world's best-selling car.
According to data released by market research institute Jato Dynamics, Tesla's Model Y has surpassed Toyota R**4 and Toyota Corolla, which have long occupied the top two sales lists, with global sales of 1.23 million units, to become the world's best-selling model in 2023. This is the first time that an all-electric model has been the world's best-selling model, signaling that the automotive industry is accelerating its transition to electrification.
Based on actual sales data in 53 major automotive markets around the world and estimates in some regions, Jato Dynamics estimates that the Model Y will sell 1.23 million units globally, compared to 1.07 million units of the Toyota R**4 and 1.01 million units of the Corolla. The detailed rankings are still to be announced in the second quarter, but the Model Y has almost locked up the championship.
The Model Y benefits from Tesla's frequent adjustments*** and capacity expansion. Tesla previously expected global sales of the Model Y to exceed 1.2 million units in 2023, making it the world's largest sales volume of a single model. Taking the Chinese market as an example, Tesla's implementation of multiple rounds of price cuts for the Model Y in 2022 has stimulated a significant increase in Model Y sales in China, accounting for more than half of the total sales of the Model 3 Y.
Of course, the sharp price reduction also led to a decline in Tesla's profits, but the hot sales increased the sales scale and still brought considerable cash flow to Tesla. The strong rise of the Model Y ended years of sales dominance by Japanese automakers.