Tesla Scares Toyota With its Electric Vehicles

Although Toyota dominates the ‘top 10’ of global registrations with an iron fist, Tesla is gaining a strong presence thanks to its electric cars.

According to data from Jato Dynamics, Toyota RAV4 was the best-selling car in the world in 2022, with 1.01 million units delivered globally. It was closely followed by the Toyota Corolla Sedan with around 992,000 registered vehicles and the Tesla Model closed the podium with 747,000 copies sold.

“It’s a historic moment not only to see a pure electric vehicle so close to the top position but for a relatively new brand to rise so high in the world rankings, particularly given that they are not the most affordable vehicles,” said the global EV analyst. Jato Dynamics Felipe Muñoz in reference to Tesla.

The fourth place in the table of the best-selling vehicles in the world last year was held by the Honda CRV (733,000 units), followed by the Toyota Camry (673,000 units), the Toyota Hilux (632,000 units), the Nissan Sentra (566,000 units), the Toyota Corolla Cross (530,000 units), the Ford F-150 (525,000 units) and the Tesla Model 3 (482,000 units).

Manufacturers With the Most Sales in 2022

In this way, Toyota placed five of its models in the ‘top 10’ world sales, while Tesla managed to place two of its cars in this classification.

Toyota was the automobile manufacturer that accumulated the most sales last year and closed the year with a global market share of 13%, which is 0.3 percentage points more than the previous year.

Jato Dynamics attributed the good commercial performance of the Japanese company to its “solid results” in China, which is now its largest market, ahead of the United States and Japan. “These results are explained by Toyota’s solid offer in both hybrids and SUVs,” the organization added.

Behind Toyota was the German group Volkswagen, which obtained a global market share of 10.12%. However, this percentage represents a contraction of almost 0.8 percentage points compared to its global relative weight in 2021, which was 10.9%. 

“In China, the manufacturer’s second largest market (relative to Volkswagen), sales fell by 6% as a result of increasing local competition, yet it remained the leading manufacturer in both China and Europe,” he said. Jato Dynamics.

Meanwhile, the Hyundai group (which includes the Kia brand) ranked third due to its “solid” market position in South Korea, North America, India, and Europe.

The fourth position went to Stellantis, with global sales in 2022 of 5.8 million units, while General Motors ranked fifth, with 4.6 million registered vehicles in all the markets in which it operates.

“In 2022, the fastest-growing manufacturer was BYD. The Chinese manufacturer gained 1.5 share points in the global market due to its strong offering in all segments and its competitive lineup of electric vehicles. BYD was the second largest manufacturer in The best-selling 100% electric vehicle in the world, behind Tesla, with an increase in its commercial volume of 184%,” they added from Jato Dynamics.

In this context, last year Chinese manufacturers sold 1.5 million vehicles worldwide outside their borders, which represented a 48% increase compared to 2021. “This growth was driven by a more competitive offer and higher quality, as well as a major boost in the affordable electric vehicle segments,” they conclude.

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