Tesla Model Y, the best-selling car model in the world in the first quarter of 2023

Elon Musk has always aimed high. He hoped that with the Model Y, he could one day offer the world’s best-selling car. That might have been the case at least in the first quarter of 2023. Jato analyzed 53 markets worldwide. Jato analyst Felipe Munoz explained in a guest contribution for the portal Motor1:

“Jato data for 53 markets worldwide, as well as information for other key markets and estimates for other markets, show that the Tesla Model Y was the best-selling car in the world in the first quarter of this year.”

However, the sales were also achieved through price cuts that the electric vehicle pioneer offered in many markets this year – coupled with immediate availability – meaning that Tesla produced “on stock”. Musk is currently not aiming for the highest possible margin but is targeting the acquisition of additional market share through more attractive pricing.

The Model Y also performs well in China and Europe

The data collected by Jato for the first quarter shows that the Model Y is at the top with 267,200 units sold. That’s an increase of about 69 percent compared to the same period of the previous year, according to the analysis. The Model Y performed strongly in China, its core market, in the United States, and in Europe, where it was the best-selling vehicle in the first quarter of 2023.

Following the Model Y: Combustion engines – led by the Toyota Corolla

According to Jato, the first five places behind the electric Model Y in the ranking of the best-selling cars in the first quarter of 2023 were all occupied by combustion engines – all produced by the world’s largest car manufacturer, Toyota: Corolla (256,400), Hilux (214,700), RAV4 (211,000), Camry (166,200).

In Europe, the Model Y also attracted many potential Model 3 customers who appreciate more flexibility. Its sales declined in the first quarter of 2023. How the Model 3 performed globally recently, Jato did not specify.

What does this mean?

Tesla is making a decent amount of money and now wants to gain market share, because: Almost all car markets have become displacement markets, which are currently conquered with availability and always with favorable rates. It remains to be seen how long this will work – and how many Tesla customers will remain loyal to the brand!