Tesla Model Y beats Toyota Corolla to become best-selling car globally

AutoExec Summary
In 2023, the Tesla Model Y surpassed all vehicles as the top-selling model worldwide, with over 1.23 million units delivered in just a year. It also claimed the number one spot in Europe and China. Preliminary JATO data showed global sales of the Model Y increased by 64% year-on-year by the end of 2023, causing significant consequences for traditional car manufacturers. The Model Y now represents two-thirds of all Tesla deliveries, leaving the Toyota Corolla in third place with 1.01 million units sold and the Toyota RAV4 in second place with 1.07 million units sold. The success of the Model Y has been attributed to Tesla’s competitive pricing strategy and strong reputation in the electric vehicle market. Brands mentioned: Tesla, Toyota.