Tesla Bumps Toyota For A Big Win

15/06/2024

The Tesla Model Y was the best-selling vehicle globally in 2023, beating the Toyota RAV4.
An impressive 1,223,000 Model Y sales showcase strong demand for this EV.
Despite losing the top spot, Toyota still claims five spots in the top 10 best-selling vehicles in 2023.

For the first time, the Tesla Model Y is the world's best-selling vehicle in 2023, according to data compiled by JATO Dynamics. A leader in automotive data, the research company looked at 151 automotive markets to determine the year's winners. It found that Tesla was able to beat out the Toyota RAV4 for the top spot, making history as the first EV to claim the title of best-selling vehicle in the world.

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2024 Tesla Model Y Long Range AWD

MSRP $47,990Drivetrain All-Wheel DriveHorsepower 425 hpTorque 475 lb-ft

It bookends the remarkable growth the automotive industry saw during the year, which ended with 78.32 million vehicles sold worldwide. This marks an increase of seven million vehicles over 2022, which signals a significant recovery from the COVID-19 pandemic and an impressive ability to weather rising geopolitical tensions. Every region of the world except Africa saw the demand for cars increase, with Europe experiencing the largest growth thanks to major demand in Turkey.

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Tesla Fans Rejoice

It's always been difficult for anyone to determine exactly how many Model Ys and Model 3s Tesla sells in a given year because the company combines the figures. It may be done in an attempt to hide how poorly models like the Model S are currently selling, since that model is lumped in together with the Cybertruck and Model X, but whatever the reason, it makes our lives difficult. Still, we knew the Model Y sold well, it's just surprising to see how well.

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According to JATO, 1,223,000 Model Ys were sold in 2023, which handily beats out the 1,075,000 RAV4s Toyota was able to sell. Comparing this to Tesla's full-year Model Y/3 deliveries, you can see the company sold 1.2 million Model Ys compared to about 550,000 Model 3s (which took 10th on the list), going to show the world has a massive appetite for SUVs. What makes this so impressive is the Model Y's relatively high price and lack of presence in most emerging markets.

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Toyota Can Still Be Proud

Despite losing out on the top spot, Toyota had an incredible year, managing to claim five spots in the list of the top 10 best-selling vehicles in 2023. With the RAV4 at number two, the Corolla followed at four, the Corolla Cross at five, the Camry at six, and finally the Hilux at eight. This comes as no surprise, as all of these vehicles are known for their capabilities, but it also shows the importance of offering consumers a wide breadth of competent options, as every one of these vehicles sits in a different vehicle class.

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The Biggest Threats Coming For Tesla Model Y

Tesla is the most successful EV maker by far, but new competition looms on the horizon.

It looks like this tactic will also pay off in 2024 as the company has been experiencing significant sales growth thanks to its amazing hybrid models like the Prius and the new 2025 Camry. Every vehicle in the Toyota lineup can be optioned with a hybrid powertrain, with some focused on performance and some focused on fuel economy, meaning the company has covered all of its bases. While the Model 3 may have taken the crown, we wouldn't count Toyota out just yet.