Tesla Model Y Is Bestselling Electric Vehicle Of All-Time, Passing A Record Previously Held By The Musk-Led Company
Portfolio Pulse from Chris Katje
Tesla Inc's (NASDAQ:TSLA) Model Y has reportedly become the bestselling electric vehicle of all time, surpassing the company's own Model 3. Based on fourth-quarter delivery figures, Tesla delivered 484,507 units, including 461,538 Model 3 and Model Y vehicles. Cleantechnica estimates that Tesla has sold 2,493,657 Model Y units since March 2020, overtaking the 2,295,187 Model 3 units delivered. The Model Y's success could make it one of the bestselling vehicles globally in 2023 and has already been reported as the top-selling vehicle in Europe. Tesla shares were trading up 1% at $240.91.
January 04, 2024 | 6:27 pm
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POSITIVE IMPACT
Tesla's Model Y has become the bestselling electric vehicle, potentially boosting the company's market dominance and brand value. Tesla's Q4 deliveries were strong, and the Model Y's success in Europe and the U.S. could signal continued growth.
The news of the Model Y becoming the bestselling electric vehicle is a significant milestone for Tesla and is likely to be viewed positively by investors. The strong delivery numbers and the Model Y's popularity in key markets such as Europe and the U.S. suggest robust demand, which could translate into positive short-term price action for TSLA shares. The stock's recent performance and the 1% increase on the day of the report further support a positive outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100