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Business News/ Auto News / Tesla Model Y is the first-ever world’s best-selling EV: Report

Tesla Model Y has become the first electric car to bag the title of best-selling car globally. According to data from Jato Dynamics, Tesla Model Y surpassed Toyota's RAV4 and Corolla models to top global sales rankings in the first quarter of 2023

Tesla sold 2,67,200 units of Model Y in the first quarter of 2023, as per the study. The figure is 2,56,400 for Corolla and 2,14,700 for RAV4.

Back in 2016, Tesla CEO Elon Musk estimated that Tesla Model Y would draw demand "in the 500k to 1 million unit per year level." In 2021, he predicted that the model will claim the top spot in the world. "We think Model Y will be the best selling car or vehicle of any kind in the world. Probably next year. I'm not 100 per cent certain next year, but I think it's quite likely," he then told investors.

The 2023 Model Y starts at USD 47,490 (approx. 39,00,00), considerably more than the 2023 Corolla (USD 21,550) and RAV4 (USD 27,575).

Sales of the electric vehicles have increased in the US, representing 7% of total passenger vehicle sales in the country, according to Counterpoint Research.

Earlier this month, Tesla increased the prices of its Model S, X, and Y electric vehicles in the US by a small percentage. The price increase affected all versions of the Model S and X, which went up by $1,000, while the price of all Model Y variants was increased by $250. 

After the price hike, the Model S now carries a price tag of $88,490, while the Model X is priced at $98,490, with both vehicles' performance versions priced at $108,490. The long-range and performance variants of the Model Y are currently priced at $47,490, $50,490, and $54,490, respectively.

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Updated: 29 May 2023, 06:41 PM IST
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