Financial Profits
Elon Musk: Tesla Model Y Will Be The World's Best-Selling Car
October 2, 2022 August 10, 2022 by Kima
According to CEO Elon Musk, the Tesla Model Y will be the world's best-selling car by 2023. The American manufacturer claims that the electric SUV is presently the best-selling vehicle globally in terms of revenue but that it will soon overtake the Toyota Corolla after its Gigafactories in Texas and Berlin open, increasing production for 2023. These disclosures said by Tesla at the business's most recent shareholder meeting (called the Cyber Roundup), including a higher pricing for the much awaited Cybertruck.. By the end of 2022, Tesla claims it will be able to produce one million Model Y EVs annually at the two sites that is only for their production.
Elon Musk, CEO of Tesla renowned for making sweeping assertions predicted that Tesla would be able to sell 500,000 to one million Model Y automobiles annually as early as 2016, and six years later, it appears that his predictions are somewhat true.
Given that the Toyota Corolla, which is currently the best-selling car worldwide, sold over 1.15 million vehicles in 2021, this estimate is rather significant. In contrast, Tesla only sold 936,222 cars overall. How, therefore, does Musk think his business can outsell a single model that has outsold his whole line of products? Well, with quick development.
Tesla anticipates ending 2022 with about 1.3 million sales and is now expanding faster than most "traditional" automakers. Since the Model Y's basic price is so much more than the Corolla's at $65,990, it is conceivable that it already generates more revenue than the latter. Therefore, the Y will bring in a significant chunk of change for Tesla even if sales aren't higher than those of the Corolla. But predicting the future is challenging .
Tesla combines the Model 3 and Model Y when reporting sales, thus while we are certain that the company sold 911,208 units of both the Model 3 and Model Y in 2021, it is hard to know the precise quantity for each vehicle. There's a potential the Tesla Model Y might overtake the Corolla if it sells significantly more than its sedan sibling. Additionally, the Model Y will be currently made only at the Gigafactories in Texas and Berlin, that will enable Tesla to produce more than in prior years.
However, there will be no way to tell for sure unless Tesla offers a genuine model-by-model sales breakdown. We doubt the Model Y will outsell the Corolla on its own in 2023 unless it accounts for the great majority of the 911,208 figure. The Model 3 has a chance if you consider it to be essentially a lesser Model Y with a trunk. We hope Elon Musk Tesla Model Y will be the world's best-selling car like he said. We keeping our fingers crossed.
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