Tesla chief executive Elon Musk has made the audacious claim that the Model Y will be the world’s best-selling light-duty passenger vehicle in the world in either 2022 or 2023.

Musk made the claim while speaking during the car manufacturer’s press conference regarding its Q1 sales and financials. For this to become a reality, demand for the Model Y will need to increase significantly.

Last year, Toyota sold approximately 1.1 million Corollas, making it the world’s best-selling light-duty passenger vehicle and with new car sales bouncing back after a COVID-impacted 2020, more than 1.1 million Corollas may be sold this year. To put that into perspective, Tesla sold a total of 442,000 Model 3 and Model Ys during 2020, but hasn’t specified just how many of them were Model Ys.

After those numbers were pointed out to him on Twitter, Musk conceded that the Model Y’s leading position would be based on revenue, at least for 2022, “and possibly total units in 2023”.

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Tesla has forecast approximately 50 per cent sales growth year over year for the Model 3 and Model Y but even if it achieves that, deliveries of the Model 3 and Model Y will only hit 663,000 combined in 2021 and 994,500 in 2022.

As for the company’s Q1 2021 results, Tesla reported a profit of $438 million although it did also record $518 million in revenue from the sales of regulatory credits during that period. Tesla also made a $101 million profit after selling some of its Bitcoin.

During the first three months of the year, 184,800 examples of the Model 3 and Model Y found new homes but a grand total of zero Model S and Model Xs were produced in Q1 as the automaker gears up to start manufacturing the facelifted model. A total of 2,020 older Model S and Model X models were sold from its inventory.