Tesla Motors, Inc. (NASDAQ:TSLA) – Tesla Model Y Is Already Outselling The Model 3 In China

During Tesla Inc’s (NASDAQ: TSLA) first-quarter earnings call, CEO Elon Musk said he expects the Model Y to be the No. 1 selling vehicle worldwide by 2022. He later clarified this would most likely be by revenue, but could be bestselling by volume by as soon as 2023.

To do that, the Model Y would need to outsell Tesla’s currently bestselling vehicle, the Model 3.

Teslarati shared delivery data from China showing that trend has already started.

In May, Tesla sold 21,936 vehicles. Of those, 12,728 were Model Y and 9,208 were Model 3.

Model 3 deliveries were down 17% from the same time last year, but that was more than made up for by Model Y figures. Model Y deliveries recently began in China in January 2021. Model Y has already begun outselling the Model 3 in California. 

Gigafactory Shanghai also exported 11,527 Model 3s, and this month last year, the factory was not exporting vehicles.

Australia and parts of Europe receive exported vehicles. Tesla is currently building Gigafactory Berlin, which will eventually take over European demand. 

Click here to check out Benzinga’s EV Hub for the latest electric vehicle news.

(Photo of Tesla Model Y courtesy of Tesla.)

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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