Tesla Model Y - World's Best Selling Car In 2023?

The Tesla Model Y looks set to be named as the world's best-selling vehicle of 2023. Despite being founded in 2003, Tesla has rapidly transformed the automotive landscape in its 20-year history, with the Model Y outperforming its competitors whilst also making history as the first electric vehicle (EV) to lead global market sales.

According to preliminary data from JATO Dynamics, the Model Y has secured an unbeatable position after 1.23 million units were shifted between Jan and Dec 2023. This also marks a remarkable year-on-year increase of 64% too.

Felipe Munoz, Global Analyst at JATO Dynamics, said in a press release that "The surge in global sales for the Model Y is unparalleled, especially for a vehicle in the top ten best-sellers. What Tesla has accomplished with the Model Y in such a short time is truly remarkable."

The Model Y dominated sales in Europe and China, the world's two largest EV markets. According to the China Association of Automobile Manufacturers (CAAM), over 456,000 units were shipped in China, representing a 45% increase from the year before as well.

In Europe, Model Y registrations outpaced well-known models such as the Dacia Sandero, Peugeot 208, and Volkswagen T-Roc. Data from 30 markets show that over 255,000 Model Y were registered, outselling the second most popular vehicle, the Dacia Sandero, by 19,000 units.

Munoz also stated that "in Nov 2023, the average retail price of a Tesla Model Y was 18% and 23% lower than the average cost of an EV in Germany and the United States, respectively. Munoz adds that Tesla's ongoing price cuts this year, combined with its reputation as a dependable and competitive EV manufacturer, fueled this strong demand.

Official Tesla delivery data confirms that the Model Y accounted for two-thirds of its 2023 deliveries.

Based on preliminary data, 2023 marks the end of Toyota's reign with its best-sellers the RAV4 and Corolla, as EVs gain traction in Europe and China. For the time being, both of these models will have to be content with second and third place.