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Tesla Model Y may be the world’s best-selling car: CEO Elon Musk

Tesla Model Y may be the world's best-selling car: CEO Elon Musk

Tesla CEO Elon Musk shared that the Model Y EV will become the world’s best-selling car this year from a revenue standpoint.

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Updated on:
Aug 07, 2022, 18:09

File photo of Tesla Model Y.

Tesla Model Y is the most successful model for Tesla in terms of sales prospects and the electric car may soon become the best-selling car in the world. Tesla CEO Elon Musk told the annual shareholders’ meeting that the Model Y EV will become the best-selling car in the world this year from a revenue standpoint. He also added that the Model Y electric car will become the largest car in the world next year in terms of total sales volume.

Currently, the Toyota Corolla is the best-selling car in the world. According to reports, about 11.50,000 copies of the Toyota Corolla were sold last year. Tesla, on the other hand, reached a total of 9,36,222 units sold last year. However, the EV company has increased its sales volume year on year and could sell more than 1.3 million cars by 2022. Tesla has maintained its sales momentum despite ongoing supply chain blockages.

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Once these supply chain hitches ease and Tesla’s Giga Texas and Giga Austin start to run at full capacity, Tesla’s Model Y EV is expected to win the total sales race with the maximum number.

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Tesla introduced the Model Y electric car in 2020. Before Tesla brought the car to market, Tesla boss Musk predicted that the vehicle will become more popular as demand will be twice the demand for the Telsa Model 3. The latter was already the best-selling EV at that time. In 2016, Musk predicted that the demand for Model Y will be between 500,000 and 1 million units per year and this prediction is well on track to come true.

Tesla currently produces the Model Y exclusively at its Gigafactory in Texas and Berlin. By the end of the year, the EV company is expected to be able to produce more than one million Model Y vehicles per year.

Date of first publication: Aug 07, 2022, 6:09 PM IST