Tesla Model Y is on track to be the world’s best-selling car

Tesla revealed that Model Y is on track to be the world’s highest-selling car by revenue this year, and it will likely be the best-selling vehicle by total volume next year.

It’s already the world’s best-selling electric car.

People often like to poke fun at Tesla CEO Elon Musk for his predictions that didn’t turn out to be true, and rightfully so, especially for things like his self-driving timeline; but we also have to give credit where credit is due.

Before Tesla ever brought the Model Y to market in 2020, Musk made some bold predictions about how popular the vehicle will become. Musk said that he anticipated Model Y demand would be about twice as high as demand for Model 3, which was already the best-selling electric car at the time. Back in 2016, the CEO put demand for the Model Y between 500,000 to 1 million units per year. That was four years before releasing the vehicle.

Now after two years on the market, Musk’s predictions are becoming true.

At Tesla’s annual shareholder’s meeting yesterday, Musk made the announcement that the Tesla Model Y is on track to become the world’s best-selling vehicle. More specifically, the electric SUV is going to be the best-selling vehicle in the world by revenue this year, and the company expects that it will be the best-selling vehicle by volume next year once Tesla has ramped up production at Gigafactory Texas and Gigafactory Berlin.

Currently, the best-selling vehicle in the world is Toyota Corolla with around 1,150,000 sales.

Tesla doesn’t breakdown sales between the Model 3 and Model Y, but the latter is expected to have surpassed the former, and Tesla is reporting a capacity of around 300,000 of those vehicles per quarter.

At Gigafactory Texas and Berlin, Tesla is exclusively producing the Model Y. By the end of the year, Tesla is expected to have the capacity to produce over 1 million Model Y vehicles per year.