Tesla was recently overtaken by Chinese automaker BYD as the world’s largest EV builder, but the American company had the world’s best-selling vehicle overall last year. According to a new report from data company JATO Dynamics, the Model Y sold 1.23 million vehicles, making it the global best-seller by a large margin.
The Toyota RAV4 came in second with 1.07 million units, and the Corolla landed third with 1.01 million sold. The Tesla took the top spot in Europe and China, the two biggest EV markets in the world. It outsold popular models like the Dacia Sandero, Peugeot 208, and VW T-Roc. Data from 2023 shows a reversal of roles for Tesla and Toyota, as the Japanese giant previously held the top two spots with the RAV4 and Corolla.
Pricing has been a significant driver of Tesla’s success. The Model Y was 23 percent cheaper than the average EV cost in America and 18 percent lower than EV costs in Germany. JATO pointed out that Tesla’s price cuts and high profile helped it overtake Toyota and others.
While good news for Tesla, the Model Y’s success presents more challenges to automakers hoping to make inroads with American EV buyers. Nobody even came close to Tesla’s EV sales, as Ford, GM, and others were far behind last year.
[Image: Tesla]
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