Tesla Model Y Is Now the World's Best-Selling Car, First EV To Do So

The Tesla Model Y has become the world's best-selling car in the first quarter of 2023, according to industry analyst JATO Dynamics, making it the first time an electric vehicle (EV) has achieved this milestone. Electrek reports: The Model Y has dethroned the Toyota Corolla as the world's best-selling car in Q1 and looks like it may well maintain this position for the full year. JATO Dynamics analyst Felipe Munoz compiled the data for Motor1, showing that the Model Y had 267,200 sales in Q1, according to data from 53 markets and projections/estimates for the rest of the world. This put it ahead of the Corolla at 256,400 sales for the same period and significantly ahead of the other top-five cars, the Hilux, RAV4, and Camry, all from Toyota.

While we don't know if this placing will continue for the rest of the year, Model Y sales have been continually growing, whereas Corolla sales are trending slightly downward. One model is new and based on new technology, and the other is an old standard -- though the current iteration of both models came out in a similar time frame, 2018 for the Corolla and 2019 for Model Y. And given Tesla's massive price cuts this year on Model Y, this will surely make the car accessible to more people compared to 2022.

Indeed, Model Y sales are already growing compared to last year. In 2022, Tesla had two of the top ten cars in the world, with Model Y achieving 759k sales. That gives it an average quarterly run rate of 189k, and this year's Q1 number is a significant increase from that. If Model Y continues at this rate or sales continue to grow at all for the rest of this year, it will exit 2023 with over 1 million sales. The only other vehicle in the world to sell 1 million units last year was the Toyota Corolla, at 1.12 million. So it might be close at year's end, but we think it's likely that Model Y will maintain its position. 'The achievement is even more impressive given Model Y's pricing and availability,' adds Electrek. 'While the Model Y does have broad availability in the world's largest markets, the Corolla is available everywhere. And despite recent price cuts, the Model Y at ~$40k (after credits) is still significantly more expensive than a base-model Corolla at $21k.'

In other EV news, Ford and Tesla announced a partnership that will allow Ford owners access to more than 12,000 Tesla Superchargers across the U.S. and Canada starting early next year. 'And, Ford's next-generation of EVs -- expected by mid-decade -- will include Tesla's charging plug, allowing owners of Ford vehicles to charge at Tesla Superchargers without an adapter, making Ford among the first automakers to explicitly tie into the network,' reports CNBC.

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