Tesla revealed that Model Y is on track to become the world’s best-selling car by sales this year, and likely to be the best-selling vehicle by total volume next year.
It is already the best-selling electric car in the world.
People often like to poke fun at Tesla CEO Elon Musk for his predictions that turned out to be untrue, and rightly so, especially for things like his self-driving timeline; but we must also give credit where credit is due.
Before Tesla ever launched the Model Y in 2020, Musk made some bold predictions about how popular the vehicle will become. Musk said he expected demand for Model Y to be about twice the demand for Model 3, which was already the best-selling electric car at the time. In 2016, the CEO’s demand for the Model Y was between 500,000 and 1 million units per year. That was four years before the vehicle was released.
Now, after two years on the market, Musk’s predictions are coming true.
At Tesla’s annual shareholder meeting yesterday, Musk made the announcement that the Tesla Model Y is on track to become the world’s best-selling vehicle. More specifically, the electric SUV will be the world’s best-selling vehicle by sales this year, and the company expects it to be the top-selling vehicle by volume next year once Tesla starts production at Gigafactory Texas and Gigafactory Berlin.
Currently, the Toyota Corolla is the best-selling car in the world with approximately 1,150,000 sales.
Tesla doesn’t split sales between Model 3 and Model Y, but the latter is expected to have surpassed the former, and Tesla reports a capacity of about 300,000 of those vehicles per quarter.
At Gigafactory Texas and Berlin, Tesla exclusively produces the Model Y. By the end of the year, Tesla is expected to have the capacity to produce more than 1 million Model Y vehicles per year.
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