Why the Tesla Model Y will still be the world's best-selling car

The figure is not official but was anticipated by Elon Musk during his conference with investors

Photo by: ChatGPT

By: Massimo Grassi

Jan 30, 2025 at 7:18am ET

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What was the world's best-selling car in 2024? The official answer is yet to come, due to the fact that some markets are slower than others to report sales figures. The final ranking will come in the spring, but Elon Musk has provided a spoiler.

According to Tesla's number one at a conference with investors, the Model Y was the world's best-selling car in 2024, repeating the success of 2023. Admittedly, Musk is speaking on the basis of Tesla's own data, without knowing the figures of its competitors, but you only have to add up the figures for the last few years and those already published by some markets to see how this statement can be true.

Europe vs. the rest of the world

Let's start with us, the European market. The Tesla Model Y did not repeat the feat of 2023 and in 2024 it was the fourth best-selling car in Europe, surpassed by the Dacia Sandero, the Renault Clio and the Volkswagen Golf. There are several reasons for this, but the main one is the price: around €42,000 for the electric SUV, and €15,000 for the Romanian small car.

But Europe is not the world, and the Tesla Model Y is a global model that has been successful in many other markets. First and foremost, the United States, where Cox Automotive estimates that the electric SUV will sell 372,617 units in 2024. Pending the final figures, the sum of Europe + the US gives 583,097 registrations in 2024. If we look at China, another 480,309 units will be sold (source: Focus2Move), for a total of 1,063,406. Other markets are missing from the roll call, but the impression is that the Model Y could be close to the 1,223,000 registrations from 2023.

Tesla Model Y 2024

Toyota RAV4

And the others? Looking at the ranking of the world's best-selling cars in 2023, the Toyota RAV4 (1,075,000 units) is in second place, with the Honda CR-V (846,000) on the third step of the podium. The SUV of the three ellipses could challenge the Model Y, but we must bear in mind that the new generation will arrive in 2025 and, as is often the case, this could have slowed down sales, with customers waiting for the new features or a physiological reduction in the price of the version ready to disappear from the lists. All the other models in last year's top 10 are unlikely to challenge the Model Y, barring unimaginable heroics.

The 10 best-selling cars in the world in 2023

Tesla Model Y, 1,223,000
Toyota RAV4, 1,075,000
Honda CR-V, 846,000
Toyota Corolla Sedan, 803,000
Toyota Corolla Cross, 716,000
Toyota Camry, 651,000
Ford F-150, 624,000
Toyota Hilux, 605,000
Nissan Sentra, 534,000
Tesla Model 3, 509,000

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Now it remains to be seen whether Musk's statement that the Tesla Model Y will be the world's best-selling car in 2024 will be true or not. Let's assume that the assumptions are all there.

The new Tesla Model Y seen live

The challenge for 2025 began with the new generation of the electric SUV, unveiled at the beginning of January and on sale in several markets, but not all of them with the full range. For the time being, some price lists only include the Launch Series version, sold in the UK at a price of £60,990. Over the next few weeks, other versions will arrive at lower prices, making the list richer and more complete.

According to some analysts, however, the Model Y is destined for a drop in sales, having now lost the novelty (or wow) effect that accompanied it in its first years on the market. Will they be right? Looking at the sales history, one might disagree:

Year	Tesla Model Y sold
2020	80,000
2021	410,517
2022	759,579
2023	1,223,000

Steady growth in the face of ever more intense competition. However, the competition is getting tougher and more numerous. The difficult judgement for posterity.