Model Y on top of world

Tesla’s Model Y is on course to be crowned the world’s best-selling vehicle in 2023 after completing 1.23 million registrations.

New preliminary figures from Jato Dynamics show the car has taken out the top spot in several international markets and is the first electric vehicle (EV) to lead the annual global chart.

A small number of markets are yet to release their sales figures for 2023, but the company’s data indicates the Model Y is in an unassailable position with its 1.23m units marking a 64 per cent increase year-on-year.

Toyota’s RAV4 is number-two in the standings with 1.07m sales, up from 1.02m units in 2022, and its Corolla third on 1.01m. 

Tesla, which was founded in 2003, saw its Model Y lead the way for sales last year in Europe and China, the world’s two largest EV markets.

Felipe Munoz, global analyst at Jato Dynamics, says: “The increase in global sales of the Model Y is unprecedented, particularly for a vehicle in the top 10 best-sellers. 

“What Tesla has been able to achieve with the Model Y in such a short space of time is simply remarkable.”

More than 456,000 units were shipped from China in 2023, an increase of 45 per cent from the previous year, according to data from the China Association of Automobile Manufacturers. 

While in Europe, registrations of the Model Y outstripped consistently high performers such as the Dacia Sandero, Peugeot 208 and Volkswagen T-Roc. 

Figures from 30 markets across that continent show more than 255,000 Model Y units were registered last year –19,000 more than the second most popular vehicle, the Sandero.

Official delivery data from Tesla also shows the Model Y accounted for two in every three deliveries it made in 2023.

The 2023 rankings mark the end of Toyota’s top position on the model ladder, with the RAV4 and Corolla having led the standings in recent years. 

Munoz adds: “Toyota has a strong presence worldwide, with the RAV4 and the Corolla making the brand attractive with a diverse offering. However, both models lack pure electric options and only offer hybrid alternatives. 

“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.”