Staff Reporter
In a recent ranking by Visual Capitalist’s Marcus Lu, the Tesla Model Y emerged as the world’s best-selling car for 2024, based on data from Statista.
Will Tesla Keep Its Lead in 2025?
As Tesla faces declining sales in early 2025, the once-dominant electric vehicle maker may slip down the ranks.
The graphic shows that Toyota, the world’s largest automaker, has two models trailing closely behind the Model Y.
To maintain its edge, Tesla has unveiled the highly anticipated Model Y refresh, codenamed ‘Juniper,’ featuring a revamped exterior and updated interior, which could help it compete with the rapidly expanding BYD in China.
BYD’s Global Growth
Ranking at #9 is the BYD Song, a series of compact crossover SUVs available in gasoline, plug-in hybrid, and all-electric versions.
This model is marketed in Europe as the BYD Seal U and in Southeast Asia and Oceania as the BYD Sealion 6.
While most of BYD’s sales come from China, the brand is making significant strides internationally. In Australia, the Sealion 6 was the top-selling plug-in hybrid (PHEV) in 2024.
As of March 5, 2025, BYD shares (ADR) have surged 34% year-to-date, while Tesla shares have dropped 31%.
Despite this decline, Tesla retains its position as the world’s most valuable automaker, with a valuation of $898 billion, down from its December 2024 peak of $1.4 trillion.
