Tesla Model Y was the best-selling car in Europe for Q1, 2023
Per JATO
JATO Dynamics, an industry analyst, published a recent report that shared how the Tesla Model Y became the best-selling car in Europe for the first quarter of 2023. This came as the model led the overall rankings in March as well.
"A new vehicle has taken top spot in the European new car market. According to JATO data across 27 European markets, the Tesla Model Y was the most registered new passenger car of March and Q1 2023."
It was reported that this was the first time the model could top year-to-date rankings. Compared to March 2022, the model sold a whopping 26% more year-over-year, and for the overall Q1 increase from 2022 to 2023, the model saw a 17% increase.
This came as the Tesla Model Y only sold 1.12 million units in 2022, which grew to 1.41 million in 2023. For the first quarter of 2022, the model sold 2.74 million units; in the first quarter of 2023, it sold 3.22 million units.
JATO Dynamics Global Analyst Felipe Munoz gave a statement about the situation and how they expect the Tesla Model Y to perform at the end of the year.
Munoz: “Increase in production alongside fewer supply chain issues enabled Tesla to finally deliver vehicles to its customers at pace. The Model Y will likely be among the 5 best-selling products in Europe at the end of this year.”
In mid-February, it was reported that the company sold out of its Model Y unit in the US for the quarter. During that time, the company was still capable of building and delivering the Model 3.
In mid-January, it was also reported that Tesla decided to decrease the price of its Model Y in the US by $13,000. This came as the company also decreased prices in other markets like China and Singapore.
See flow at unusualwhales.com/flow.
Other News:
Resources: