Tesla is pulling out all the stops with its most attractive incentives yet, hoping to end the year on a high note by boosting shipments of its popular Model Y and Model 3 vehicles worldwide. Despite offering enticing deals like 0% APR financing and free Supercharging, the Model Y has yet to reclaim its crown as the most sold vehicle globally—a title it proudly held last year.
Recent monthly data from 162 countries indicates that the Toyota Corolla has surged ahead, selling 901,991 units, reclaiming its spot as the world’s bestselling car. Tesla’s Model Y follows close behind with 865,868 vehicles sold. Meanwhile, the Toyota RAV4 is not far off, with 836,258 sales and an impressive 13.7% growth compared to the last year.
The standout in growth, however, is BYD. Its Song model has experienced a massive 42% jump in sales, owing to the company’s aggressive expansion into international markets, including the opening of new showrooms and extending its footprint into new countries.
Toyota has long been a leader in global vehicle sales, but Tesla made significant inroads with the launch of its midrange crossover SUV, which resonated with early electric vehicle enthusiasts. While the pace of electric vehicle sales has decelerated somewhat, Tesla’s edge in production costs and brand recognition in the EV market is still substantial. Hence, sliding from the top to the second best-selling car worldwide is quite an achievement in itself.
Looking ahead, there is anticipation around Tesla’s upcoming Model Y refresh, codenamed Juniper, expected in the first quarter of next year. This release could potentially propel the Model Y back to the pinnacle of global sales in 2025 after taking a brief detour this year.
