Tesla Model Y to Surpass Toyota Corolla as World’s Top-Selling Car in 2023

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In 2023, Tesla sold 1.23 million Model Y electric vehicles (EVs), while Toyota sold 1.07 million RAV4s and 1.01 million Corollas. The Model Y witnessed a remarkable 64 percent year-on-year growth.

Jato Dynamics, an automotive insight provider, has released preliminary global car sales data for the 2023 calendar year. According to the report, the Tesla Model Y is poised to become the world’s best-selling car for 2023, with 1.23 million units sold globally. In comparison, the Toyota Corolla, last year’s best-selling car, recorded sales of 1.01 million units in 2023, securing the third position (including Levin and Lingshang).

The Toyota RAV4 ranked as the second best-selling car globally in 2023, with 1.07 million units sold. This marks the first instance of an electric vehicle topping the global ranking, signifying the end of Toyota’s dominance in the model ranking, which it had maintained for years. In 2022, both the first and second spots were held by the Toyota Corolla and RAV4, respectively.

Felipe Munoz, Global Analyst at JATO Dynamics, noted, “The increase in global sales of the Model Y is unprecedented, particularly for a vehicle in the top ten best-sellers. What Tesla has been able to achieve with the Model Y in such a short space of time is simply remarkable.”

While a few markets are yet to release their sales figures for 2023, preliminary data collected by JATO Dynamics strongly favors the Tesla Model Y, which has experienced a 64 percent volume growth year-on-year. The preliminary data encompasses global light vehicle sales in 2023, including major markets such as the US, Europe, China, and India. The final report is expected to be published in the second quarter of 2024.

Regarding Toyota’s loss to Tesla, Munoz explained, “Toyota has a strong presence worldwide, with the RAV4 (an SUV) and the Corolla (a compact car) offering a diverse range. However, both models lack pure electric options and only offer hybrid alternatives. Despite Toyota’s strong performance in 2023, the RAV4 and Corolla cannot compete in the electric car market, which is gaining significance in Europe and China.”

JATO also found that, according to Tesla’s official delivery data, the Model Y accounted for two-thirds of the company’s deliveries in 2023.

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