Tesla's Model Y becomes best-selling car globally, first EV to bag crown

Tesla had the top-selling vehicle globally in the first quarter of this year, data from Jato Dynamics shows.

The company's Model Y beat Toyota's Corolla sedan and RAV4 compact SUV by selling an estimated 267,200 units globally. Corolla and RAV4 notched sales of 256,400 and 214,700 units, respectively.

Tesla topped the list despite a massive price difference –– the Model Y starts at $47,490, more than twice the price of a Corolla and almost 75 percent more than the cost of a RAV4.

This is the first time an EV has topped the best-selling vehicle list globally. Chinese demand was a key factor for Tesla. Citing Jato data, Reuters said the Elon Musk-led firm sold around 94,500 Model Ys in the Middle Kingdom, better than the 83,700 units sold in the US and 71,115 sold in Europe.

The US remained Tesla's biggest market overall though, and vice-versa: on home soil, Tesla outsells all 17 EV competitors combined. The company also recently agreed to a deal that allows owners of Ford EVs to use its own charging network.