Tesla Model Y is the world’s best-selling car in 2024

The Tesla Model Y was the best-selling car worldwide in 2024, surpassing all other models with impressive global sales. However, with early signs of slowing growth in 2025, Tesla's reign at the top may face challenges from automakers like Toyota and BYD, who are rapidly expanding their global footprint.

In a graphic compiled by Visual Capitalist's Marcus Lu, using data from Statista, the top-selling cars of 2024 were revealed, with the Tesla Model Y taking the crown. Despite the success, Tesla's share price has seen a significant drop in early 2025, falling by 31% year-to-date, as the brand faces fierce competition in the electric vehicle (EV) market.

In response, Tesla has launched a refreshed version of the Model Y, codenamed "Juniper," with updated exterior and interior designs to keep pace with competitors. Meanwhile, BYD's rise continues, with the BYD Song breaking into the top 10, showing growth in markets like Europe, Australia, and Southeast Asia.

As of March 2025, BYD’s shares have surged by 34%, signaling their growing presence in the global automotive market. While Tesla remains the most valuable automaker with a market capitalization of $898 billion, it has fallen from its December 2024 peak of $1.4 trillion, indicating a potential shift in the EV landscape.