Tesla Model Y on Track to Become Best-Selling Vehicle Worldwide: Musk

model y best-selling car globally

During today’s 2022 Tesla annual shareholder meeting, CEO Elon Musk shared the company had produced its 3 millionth vehicle, growing its annual production rate exponentially.

As for the company’s Model Y compact crossover SUV, Musk said it’s on track to become the highest-selling vehicle by revenue this year. In 2023, the Model Y will be the highest-selling vehicle by unit volume.

Musk stressed there’s “still a lot of work to do,” noting “these factories don’t magically work,” adding its Gigafactories in Berlin and Austin still need to spool up production.

The Tesla CEO also mentioned how the company will likely be able to announce the location of a new Gigafactory location this year. When people shouted “Canada”, Musk said “we got a lot of Canadas. I’m half-Canadian,” laughing.

Tesla says it plans to build 10 to 12 Gigafactories with an average output of 1-2 million units per factory. Currently, Tesla’s Fremont factory has the highest output in North America, but also stated how the Giga Shanghai team is “hard to beat” and was “just awesome.”

At Tesla’s 2021 annual shareholder meeting held last October, Musk said at the time the Model Y “should become the best-selling vehicle of any kind,” a milestone expected to be achieved in 2023, thanks to its four factories: Fremont, Shanghai, Texas and Berlin-Brandenburg.

We’re already seeing the Model Y top global sales charts and it’s clear the electric compact crossover SUV is hard to beat.