(Paris) The Tesla Model Y was the best-selling vehicle in the world in 2023, overtaking the Toyota RAV4 thanks to its slashed prices, according to preliminary data published Thursday by the firm Jato Dynamics.
Sales of Tesla Model Y increased 64% in one year to reach 1.23 million units, Tesla announced Wednesday evening.
Tesla’s small SUV overtakes the Toyota RAV4 (1.07 million) and the Toyota Corolla (1.01 million), the two models from the Japanese auto giant that dominated the rankings in recent years.
The Tesla Model Y has notably taken the lead in the Chinese and European markets, where the supply and sales of electric cars have exploded.
This crowning achievement marks the revolution at work in the automobile market: it is the first time that an electric car has ranked at the top of global sales of new cars for all engines combined.
In Europe, Tesla’s SUV has overtaken entry-level cars like the Dacia Sandero and Peugeot 208.
In the United States, the model ranks 5e behind three pick-ups and the Toyota Rav4.
“This sales growth is unprecedented,” said analyst Felipe Munoz of Jato Dynamics. “What Tesla has achieved with its Model Y in such a short time is simply remarkable.”
Launched in 2020, the Y is assembled in three giant factories in California, China and since 2022 in Berlin. The model now represents two thirds of the American manufacturer’s sales, far ahead of the Model 3 sedan.
The model is at the forefront of the price war launched by the American manufacturer in electric cars: its average price was 18% and 23% lower respectively than the average price of an electric car in the United States and Germany in November 2023 , according to Jato.
“The discounts announced during the year, added to Tesla’s reputation as a manufacturer of reliable and competitive electric vehicles, helped to strengthen already significant demand,” underlined Mr. Munoz.
Tesla also retained its place as the largest group of sellers of electric cars over the year, but the American company was overtaken by the Chinese BYD during the last quarter of 2023 (526,409 electric vehicles delivered between October and December, and 1.57 million in 2023).
Jato Dynamics made its ranking based on sales figures from the main automotive markets around the world in 2023, from North America to China, Europe and Latin America. Final figures are due to be published in the second quarter of 2024.