Tesla Model Y may become world's best-selling car: CEO Elon Musk

Tesla Model Y is the most successful model in terms of sales perspective for Tesla and the electric car may soon become the world's best-selling car. Tesla CEO Elon Musk in the annual shareholder meeting shared that the Model Y EV will become the world's best-selling vehicle from a revenue point of view this year. He also added that the Model Y electric car will become the world's number one vehicle when it comes to overall sales volume next year.

Presently, Toyota Corolla is the highest-selling vehicle around the globe. According to reports, last year around 11,50,000 units of Toyota Corolla were sold. Tesla, on the other side, reached a total of 9,36,222 units in sales last year. However, the EV company has been increasing its sales volume year on year and may sell more than 1.3 million cars in 2022. Tesla has been maintaining its sales momentum despite the ongoing supply chain blockages.

As soon as these hiccups in the supply chain ease down and Tesla's Giga Texas and Giga Austin start running at full capacity, it is being expected that Tesla's Model Y EV may win the race of overall volume sales with the maximum number.

Tesla introduced the Model Y electric car in 2020. Before bringing in the car, Tesla head Musk predicted that the vehicle will become more popular as its demand will be twice higher compared to the demand for the Telsa Model 3. The latter was already the best-selling EV at that time. In 2016, Musk predicted the demand for Model Y will range between 500,000 to 1 million units per year and this forecast is on the track to coming true.

Currently, Tesla is exclusively producing the Model Y at its Texas and Berlin Gigafactory. By the end of the year, it is expected that the EV company will be able to manufacture over one million Model Y vehicles annually.