Tesla's Model Y electric crossover has become the world's best-selling car in the first quarter of 2023, surpassing popular Toyota vehicles such as the RAV4 and Corolla, according to data from market research company JATO Dynamics.
The Model Y saw 267,200 units sold globally in the first three months of the year, compared to 256,400 for the Corolla and 214,700 for the RAV4 in the same period.
The Model Y's surge in sales comes even though it is almost double the price of the Corolla and RAV4.
CEO Elon Musk
had previously estimated that the Model Y would draw demand in the "500k to 1 million unit per year level." The development is seen as a milestone for Tesla
as competition among electric-vehicle automakers remains sluggish, allowing the company to dominate the market.
has previously slashed prices of its vehicles, which may have contributed to the increase in sales.