Tesla mentioned throughout its This autumn 2023 Earnings Name that the Mannequin Y all-electric crossover was the best-selling car of any sort on this planet final yr.
It’s a monumental achievement, contemplating the car began deliveries to prospects simply 4 years in the past.
CEO Elon Musk has mentioned on a number of events that he believed Mannequin Y would ultimately grow to be the best-selling automotive on this planet.
He mentioned this for the primary time throughout the Q1 2021 Earnings Name:
“In terms of Mannequin Y, we predict Mannequin Y would be the best-selling automotive or car of any sort on this planet and possibly subsequent yr. So I’m not 100% sure subsequent yr, however I feel it’s fairly possible. I’d say extra possible than not, that in 2022, Mannequin Y is the best-selling automotive or truck of any sort on this planet.”
Musk’s timeline for the achievement might have been off, however solely by a yr, and the Mannequin Y, in response to firm figures, was the best-selling car in 2023. This outpaces the Toyota Corolla and RAV-4, which have been mainstays on the record for a while.
Tesla Mannequin Y gross sales overtakes Toyota RAV4 in its quest to grow to be the best-selling car
Tesla mentioned in its Earnings Shareholder Deck that the Mannequin Y had formally earned the label of the best-selling car on this planet:
“In 2023, we delivered over 1.2 million Mannequin Ys, making it the best-selling car, of any sort, globally. For a very long time, many doubted the viability of EVs. At present, the best-selling car on the planet is an EV.”
If the figures are appropriate based mostly on Tesla’s Shareholder Deck and feedback made throughout the Earnings Name, it means the Mannequin Y was a big focus of the corporate’s car combine.
Tesla reviews its figures in a singular trend, combining Mannequin 3 and Mannequin Y in its reporting. It additionally combines gross sales figures for the Mannequin S and Mannequin X.
Tesla mentioned it delivered 1,739,707 Mannequin 3 and Mannequin Y items in 2023. If it delivered 1,200,000 precisely, it could have made up roughly 69 p.c of the Mannequin 3 and Mannequin Y combine.
It’s no secret the Mannequin Y helped Tesla catalyze a powerful progress fee from 2020 to 2023. Car deliveries grew 38 p.c in 2023 in comparison with 2022, and the Mannequin Y was undoubtedly an enormous a part of that, because of its large affect as a requirement driver for Tesla.
Nonetheless, Tesla is aware of that its progress is not going to be carried by the Mannequin Y perpetually. As an alternative, it’s turning its focus to its next-generation platform, which is predicted to enter manufacturing within the latter half of subsequent yr.
The corporate mentioned that it expects a “notable” drop in annual progress fee this yr, which has put stress on shares on Thursday.
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