Record-breaking sales no longer secure for Tesla as rival takes lead in global car market.
In a surprising turn of events, the Toyota RAV4 has claimed the title of the world's best-selling car in 2024, surpassing the Tesla Model Y. This victory comes after the Model Y held the top spot in global sales in 2023.
The RAV4 sold around 1.187 million units globally in 2024, edging out the Tesla Model Y, which sold approximately 1.185 million units—a margin of fewer than 3,000 cars. This narrow victory was a result of several factors.
Firstly, the RAV4 experienced an impressive 11% growth in sales, even as its previous generation neared the end of production. This growth was bolstered by the introduction of an all-new RAV4 with a modern design and powerful hybrid options delivering up to 320 horsepower, enhancing its appeal.
Secondly, the global rise in demand for SUVs played strongly in RAV4’s favour. Toyota’s hybrid models also resonated well with environmentally conscious consumers, particularly in the US, helping to maintain robust sales.
On the other hand, Tesla experienced a slight dip in Model Y sales, with around a 3% decline. This drop in sales was likely due to a brief manufacturing halt and some corporate rough patches, as well as controversies surrounding its CEO, which likely affected consumer confidence and sales momentum.
Toyota's dominance was further reinforced by its diversified lineup. Beyond the RAV4, Toyota placed five models in the global top ten best-sellers for 2024, including the Corolla Cross, Corolla sedan, Hilux, and Camry.
The Corolla Cross, also known as the Frontlander in some markets, came in third place, while the Camry was in eighth place. The Honda CR-V was in fourth place, the Ford F-150 was in seventh place, and the BYD Qin was in tenth place in the global sales ranking.
The Hilux pickup was in sixth place, and the Tesla Model Y, despite its initial lead in 2023, lost the title of the world's best-selling car by an estimated 2,000 units in 2024.
Looking ahead, the 2026 RAV4 has already been revealed with a boxy redesign and a full hybrid lineup making as much as 320 horsepower. This indicates Toyota's commitment to maintaining its lead in the global automotive market.
Data for the sales totals was pulled from national statistics offices, dealer associations, and various contacts in the industry. The data for the sales totals was compiled by JATO Dynamics automotive analyst Felipe Munoz.
This shift in the global automotive market underscores the ongoing competition between traditional automakers and electric vehicle manufacturers, with consumer preferences playing a crucial role in shaping the future of the industry.
The dominance of Toyota in the global automotive industry continued into 2024, with the RAV4, featuring powerful hybrid options, selling around 1.187 million units and edging out the Tesla Model Y in electric-vehicle sales. Despite a 3% decline in Model Y sales, the Tesla Model Y's loss of the title of the world's best-selling car was estimated at approximately 2,000 units. This shift in the industry reinforces the ongoing competition between traditional automakers and electric vehicle manufacturers, a competition shaped by factors such as finance, lifestyle, and consumer preferences.
