The latest data shows that the output of Model Y at Tesla’s Shanghai Gigafactory is rapidly surpassing Model 3. The factory has been Tesla’s largest vehicle production base, and the Model Y and Model 3 are two of Tesla’s most popular models.
It is noticed that when Tesla released the Model Y, the Model 3 dominated the electric vehicle sales list and accounted for the vast majority of the company’s sales. However, Tesla CEO Elon Musk said Tesla expects the Model Y to be the company’s best-selling model. He was even more optimistic, saying that Model Y is expected to top the sales list of all models in the world.
Model Y has undoubtedly become the favorite of Tesla car buyers, and the car has also become a priority production model at the Shanghai Gigafactory. Data from Troy Teslike, an X platform blogger who tracks Tesla’s development, shows that the number of Model Y produced at Tesla’s Shanghai Gigafactory this year is expected to be 2.07 times that of Model 3. For comparison, Model Y production last year was 1.77 times that of Model 3.
The Model Y also fits Tesla’s financial goals because the car offers higher profit margins than the Model 3, according to Troy. Tesla has the highest gross profit margin in the automotive industry, and increasing gross profit margin can improve the company’s financial position and overall profitability.
