JATO Dynamics, an automotive business intelligence agency based in Uxbridge, UK, has reported that its preliminary data indicates that the Tesla Model Y is on course to secure the top spot across the majority of global markets. The car has seen 1.23 million units sold between January and December 2023, a 64% increase year-on-year.
“The increase in global sales of the Model Y is unprecedented, particularly for a vehicle in the top ten best-sellers,” stated Felipe Munoz, Global Analyst at JATO Dynamics. “What Tesla has been able to achieve with the Model Y in such a short space of time is simply remarkable.”
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The Model Y led the way for sales in both Europe and China, the world’s two largest EV markets. According to data from the China Association of Automobile Manufacturers (CAAM), more than 456,000 units were shipped to China in 2023 – an increase of 45% from 2022. In Europe, registrations of the Model Y soared above consistently high performers such as the Dacia Sandero, Peugeot 208, and Volkswagen T-Roc. Data from thirty markets shows that more than 255,000 units of the Model Y were registered, 19,000 units more than the second most popular vehicle (the Dacia Sandero).
Munoz added, “The average retail price of a Tesla Model Y in November 2023 was 18% and 23% lower than the average cost of an EV in Germany and USA respectively. The price cuts over the course of the year combined with Tesla’s reputation as a reliable and competitive EV manufacturer, helped to fuel already high demand. As a result, Tesla is front of mind for many consumers looking to purchase an EV.”
Official delivery data from Tesla also show that the Model Y accounted for two in three deliveries by the OEM in 2023.
Toyota moves from top-rank
According to the preliminary data from JATO, 2023 will mark the end of Toyota’s top position in the model ranking, with the RAV4 and Corolla having led the global rankings in recent years.
“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,” Munoz continued. “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.”
Despite this, the second best-selling vehicle in 2023 is set to be the Toyota RAV4, with 1.07 million units currently sold globally – up from 1.02 million units in 2022, when it led the global market. With all body types included, Toyota’s Corolla occupied third place in the rankings, according to the preliminary data.