Tesla Model 3 is now the best-selling sedan in the world

Tesla announced that its Model 3 has become the world’s best-selling premium sedan. This EV defeated the BMW 3 Series, and the Mercedes E-Class to become the world’s leading executive sedan.

Produced at the Shanghai plant in China, the Model 3 became the world’s best-selling EV in just a few years of launch.

“About three and a half years after production, the Model 3 is the world’s best-selling premium sedan, even without a European factory, surpassing long-standing industry leaders such as the 3 Series and E-Class,” Tesla said in a statement.

The company reported revenue of $10 billion in just the 1st quarter of 2021. Launched in 2015, the Model 3 will see increased production at the Shanghai Giga factory in late 2021.

Tesla announced that it will also start exporting the Model 3 from China to the European and APAC markets, helping to improve shipments. Tesla also believes that Model Y can reproduce the success of Model 3.

“We believe the Model Y will not only be a category leader, but also the best-selling car in the world,” said its statement.

The world’s most capitalized auto-manufacturer will also launch the Model 3 imported from China in India.

Previously Tesla co-founder and CEO Elon Musk said Tesla could deliver as many as one million Model Y vehicles a year. SUVs have become the best-selling category in the automotive market, Model Y is basically a Model 3 based SUV, with a lot of shares.

Recently the Model 3 stirred much hype at the Shanghai Auto Show after a protester climbed on top of a car alleging the brake system to her Model 3 vehicle malfunctioned causing an accident. The incident led Tesla to release data log of the car thirty minutes leading up to the impact, revealing a number of speed limit violations.