Globally, auto fans are beginning to prefer electric cars over the usually petrol-powered vehicles. This is evidenced in the demand for electric models of cars in the global auto markets.
Also, it explains why for the first time, an electric car known as Tesla Model Y is at the top of global sales rankings, according to the data from 53 global markets obtained by JATO Dynamics, a global automotive market research company.
Though Tesla Model Y is leading the world’s best-selling car in the first quarter of this year, Toyota still has four of its brands on the list. Here are the world’s five best-selling cars in the first quarter of the year:
Tesla Model Y
Tesla Model Y has unseated Toyota Rav4 to become the world’s best-selling car in the first quarter of 2023, according to the data compiled by JATO Dynamics.
The car sold about 267,200 units within the period under review, representing an increase of approximately 69 percent from the same period last year.
The Model Y performed strongly in China, its core market, in the United States where it sold up to 68 percent, and in Europe, where it became the top-selling vehicle.
Meanwhile, the feat was not surprising to industry close watchers because going down memory lane, it will be recalled that in August 2022, Elon Musk, chief executive officer of Tesla, announced during the annual shareholders meeting that the Tesla Model Y will become the best-selling new vehicle in the world in 2023.
Then, it was considered an optimistic target, given the high average price of this mid-size electric SUV, but the Tesla brand has grown very rapidly to get to where it is today.
In 2022, Tesla Model Y was the third best-selling car last year, behind only two very popular names: the Toyota RAV4 and the Toyota Corolla.
Read also: Hyundai Motor to invest $85.41bn by 2032 to speed up EV plans
Industry close watchers believed that the demand for the electric car was due to price cuts and the company’s expansion programmes.
Toyota Corolla
The Toyota Corolla model of car has varieties including sedan, wagon, and hatchback. It sold a total of 256,400 units of cars within the period under review.
According to JATO, the Corolla, which has been one of the most popular cars in the world for years, recorded downward-trending sales of 256,400 units equally about a 29 percent drop in China and a 10 percent decline in the United States.
The Corolla has the advantage of being a truly global product, being available in almost every country in the world. This makes it less vulnerable to any geopolitical clashes between world powers such as China and the United States.
Toyota Hilux
The Toyota Hilux emerged as the third best-selling car in the global auto market, and it sold about 214,700 units within the period under review.
The Toyota Hilux has continued to be the top choice in emerging economies, which explains its presence in these markets.
Toyota Rav4
The Toyota Rav4 was ranked as the fourth best-selling car in the world, and it sold a total of 211,000 units within the period under review.
Designed for developing markets, the RAV4 was number one on the list of best-selling cars in the global markets in 2022.
Toyota Camry
The Toyota Camry emerged as the fifth best-selling car in the global auto market in the first quarter of the year. The Toyota brand, which is designed for developing markets, sold a total of 166,200 units within the period under review.
