Leading electric vehicle company Tesla Inc TSLA continues to dominate the EV sector and is taking over records and charts dominated by traditional automakers.
The company's increased production and deliveries in 2023 could help the company become the market leader in Europe.
What Happened: The Tesla Model Y SUV from the EV company continues to be a bestseller, recently passing the two million unit milestone.
In Europe, the Model Y could end the 2023 year as the top-selling vehicle by units, according to a report from Dataforce.
According to AutoNews, the Model Y was the top-selling vehicle in Europe for the first 10 months of 2023. The data comes as Tesla posted the strongest sales in the last month of each quarter according to the report and could increase its lead before the end of the year.
Tesla has sold 212,517 Tesla Model Y units in Europe through the first 10 months of the year, ranking 15,035 units ahead of second place Dacia Sandero.
According to the report, Tesla should maintain its lead or add to it based on trends of the last two months of each quarter having higher sales totals than the quarter's first month. Data showed that since 2018, around 10% of the company's sales come in the first month, 23% come in the second month and 67% come in the third month of the quarter.
Here's a look at sales of the Model Y in Europe by month.
January: 9,660
February: 28,864
March: 60,935
April: 14,787
May: 29,836
June: 48,434
July: 18,105
August: 33,560
September: 34,848
October: 18,375
Sales by quarter for the Model Y in Europe are:
First Quarter: 93,459
Second Quarter: 93,057
Third Quarter: 86,513
The Model Y made up around 73% of Tesla's total European sales in the first 10 months of 2023.
Related Link: Tesla Q3 Earnings Highlights: Revenue Miss, EPS Miss, Cybertruck Launch Set For November And More
Why It's Important: If the Model Y finishes the year as the top-selling vehicle in Europe it would mark several firsts for the region. The Model Y would be the first electric vehicle, first midsize car, first premium car and first non-European car in the current modern era to be awarded the title of the year's bestselling vehicle in Europe.
The Model Y is expected to top several bestselling vehicle lists and could rank among the top five bestselling vehicles both worldwide and in the U.S.
Tesla made headlines in 2022 with the Model Y ranking sixth in U.S. sales for the full year. Getting top honors in Europe could help Tesla increase its brand awareness in the region and lead to increased sales of the popular vehicle in years ahead.
Released in 2020, the Tesla Model Y is now among the top-selling vehicles in the world, when counting either electric vehicles or overall automotive sales.
TSLA Price Action: Tesla shares traded at $236.08 at market close Monday versus a 52-week trading range of $101.81 to $299.29. Tesla shares are up over 115% year-to-date in 2023.
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