© Reuters. Tesla’s (TSLA) Model Y surpasses Toyota’s (TM) RAV4 to become the best selling SUV in Australia
The latest data received from the Federated Chamber of Automotive Industries shows that Tesla (NASDAQ:) sold 3,178 units of the Model Y in May, overtaking the Toyota (NYSE:) RAV4 as the bestselling SUV in Australia and the third bestselling car of any type.
The only models to beat the Model Y were the Toyota Hi-Lux (5,772) and the Ford Ranger (4,110) utes. Both cars are now available as electrics by conversion specialist ROEV. The Tesla Model 3 was the third best-selling EV in Australia with 1,298 sold in May.
Australia’s car industry saw a solid 7.7% jump in battery electric vehicle (BEV) sales last month, showing that more people are embracing EVs. In May, BEVs, plug-in hybrids, and hybrids made up a decent 15.6% chunk of Australia’s auto market.
The FCAI believes May 2023’s sales result stemmed from improvement in supply and logistics.
“This result is a signal that we are starting to see some improvement in supply. However, not all issues are resolved, and our members continue to work with their customers to improve vehicle delivery times,” said FCAI Chief Executive Tony Weber.
“A large proportion of vehicles delivered this month would have been ordered during 2022,” he said. “Since then, we have seen a shift in economic conditions with a focus on rising cost pressures for households and businesses. Nevertheless, reports from our members indicate that demand remains firm.”
Shares of TSLA are up 1.43%, while shares of TM are down 0.66% in pre-market trading on Monday.
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