Tesla is one of the leading electric vehicle companies in the world, having sold sold more than 936,000 cars last year. The company offers four models as part of its portfolio, including the Model S and Model X flagships apart from the more affordable Model 3 and Model Y. Until recently, the company held the number one position in the industry globally, but Chinese auto major BYD surpassed it earlier this year to become the world's largest EV manufacturer. Tesla recently announced that it delivered more than 250,000 vehicles during the second quarter of this year as electric car sales keep soaring amid rising gas prices and increased environmental concerns.
At Tesla’s annual shareholder meeting this week, Musk claimed that the Tesla Model Y will become the best-selling vehicle in the world by revenue this year. He also added that the car will become the best-selling vehicle by volume globally before the end of next year. To achieve that goal, Musk said that Tesla is ramping up production at Gigafactory Texas and Gigafactory Berlin. He also said that Tesla is aiming to manufacture at least two million cars next year as the next step towards its long-term goal of building 20 million vehicles per year.
What's worth noting here is that Musk wasn't talking about the Model Y becoming the best-selling EV globally, but the top-selling vehicle in the entire automotive industry in general. According to Statista, the best-selling vehicle in the world last year was the Toyota Corolla, which clocked sales of more than 1.1 million units in 2021. The only Tesla in the top-ten list was the Model 3, which sold around 580,000 units, according to the report. However, if Musk's assertion is anything to go by, Model Y sales must have gone past that of the Model 3 over the past year.
Tesla doesn't reveal the exact sales figures of any of its vehicles, so it's difficult to tell how many Model Y units the company is selling at the moment. However, according to InsideEVs, Tesla's Fremont, California factory has an installed capacity to manufacture up to 600,000 Model 3/Model Y units per year, while Giga Shanghai has the potential to produce over 450,000 Model 3/Model Y per year. In addition, Giga Berlin started producing the Model Y earlier this year, while Giga Texas is exclusively producing the Model Y. So it might not be a massive surprise if Tesla does end up selling over one million Model Y units next year and surpassing the Toyota Corolla in the process.