The Tesla Model Y repeats as the best-selling vehicle in the world.

Vehicle deliveries from Chinese manufacturers such as BYD, SAIC and Geely have surpassed those of American producers for the first time in history, totaling 13.4 million vehicles compared to 11.9 million from manufacturers such as Ford, according to the latest report from Jato Dynamics published this Thursday in which Japanese brands remain the best-selling brands in the world.

The market share of Chinese firms has skyrocketed in the Middle East, Europe, Asia and Africa with companies such as SAIC Motor and Geely as the two main protagonists after the commercial offensives carried out in recent months in various European countries and Australia.

As the domestic market shows signs of slowing, Chinese manufacturers are looking for new sources of growth abroad. However, the firm points out that expansion in the United States and Europe has been interrupted by "protectionist" policies such as the tariffs announced by the European Commission on imports of Chinese electric vehicles.

It is striking in this latest report that China has not been the market that has grown the most in the last year with an annual sales volume that has grown by 6% compared to the previous year, although surpassed by the 12% increases in America. North, Japan and South Korea.

Likewise, Europe has been the fastest growing market as a result of the increase in registrations in Turkey, the fourth largest in the region, which prevails over Spain.

"More than 17.5 million new cars were sold in emerging economies in 2023. That is more than total sales in the United States or Europe during the year," said Jato Dynamics senior analyst Felipe Muñoz.

TESLA MODEL Y, THE BEST SELLING CAR

At the same time, the Tesla Model Y remains the best-selling car in the world, securing the position without taking into account its future integration into emerging markets.

"Tesla is a brand made for the developed world. While it cannot currently target these markets, there is potential to explore emerging markets as an additional source of growth in the future," Muñoz said.

Sales of the Tesla Model Y totaled 1.22 million units worldwide, 64% more than in 2022, or 480,000 units more than in 2021, a result achieved that no other manufacturer had managed to record in history. Consequently, the Model Y managed to outsell the best-selling traditional brands worldwide, such as the RAV4 and Toyota Corolla.