The success story of Model Y extends beyond American borders, with Europe and China demonstrating robust market performance. In Europe alone, Tesla registered 255,000 Model Y vehicles - that's 19,000 more than its nearest competitor, the Dacia Sandero. Chinese markets accounted for an impressive 456,000 units shipped and saw a yearly increase of 45%, according to data from the China Association of Automobile Manufacturers.
Competitive Pricing
When it comes to affordability in November 2023, Tesla Model Y stands out in Germany and the USA. With prices being respectively 18% and 23% lower than the average electric vehicle (EV) price in these countries, consumers have been drawn to its value proposition.
Dominance in Tesla Deliveries
Within Tesla's own delivery statistics for 2023, the Model Y represents two-thirds of all vehicles delivered by the company. This emphasizes how central the model has been to Tesla's operations and success over this period.
Analyst Insights on Tesla’s Strategy
Felipe Munoz from JATO Dynamics remarks on the remarkable increase in sales for a top-ten best-seller like Model Y, calling it "unprecedented" and praising Tesla's achievement as "simply remarkable." He credits strategic price cuts throughout the year alongside Tesla's strong reputation for boosting high demand further.
Toyota's Shifting Fortunes
Toyota experienced a shift in its longstanding market dominance. The second best-selling vehicle in 2023 is set to be the Toyota RAV4, with 1.07 million units currently sold globally – up from 1.02 million units in 2022, when it led the global market. With all body-types included, Toyota’s Corolla occupied third place in the rankings, according to the preliminary data.
Source: JATO Dynamics
