Tesla Model Y Passes Perennial Top-Sellers in Global Rankings
Tesla just followed up a vehicle deliveries report that fell short of expectations with quarterly revenue that also was a bit lower than hoped, disappointing investors looking for a more clear-cut kibosh on debate over whether it's starting to have demand issues.
Elon Musk has a broad target to grow sales around 50% annually. While the company now expects to fall just short of that mark this year, one of its models is climbing toward the top of global sales rankings.
Tesla doesn't disclose the split in sales between its Model 3 sedan and Model Y sport utility vehicle, but given the latter's performance, maybe it should. BloombergNEF estimates that the company sold around 200,000 Model Ys in the third quarter, bringing the total so far this year to more than 500,000. That means the SUV is broadly on pace to hit our estimate, published at the beginning of the year, of almost 800,000 — enough to comfortably place among the top five best-selling vehicles in the world.
The Model Y is passing some household names along the way. Ford, for example, sold around 562,000 F-150 pickups last year. It looks like Tesla's SUV probably overtook the truck in the third quarter and should come out ahead for the full year. While Ford has recently upped its EV game, this change in hierarchy has to be a bit jarring for its executives, one of which publicly mocked Musk in 2018 by noting his company was making roughly the same number of cars in four hours that Tesla was in a week.
To be fair, F-150 volumes are largely limited to North America, while the Model Y is sold globally. Looking at North America alone, the F-150 still dominates the sales charts and probably will for a long time.
Farther up the leaderboard, it's the Japanese that rule the
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