well staying with cars Tesla's model Y is the world's best selling car beating out Toyota's RAV4 and its Corolla models and this marks the first time on all electric vehicle is the best selling car across the globe joining us now is Yahoo finance's prize to Romanian to break this down for us quite a move here for Tesla yeah you know if you want to sell a lot of product cutting prices usually as a way to do and that's what happened here with with Tesla as you said just now Tesla Crossing that top Global selling car according to Jayco research and motorone.com you've seen that Tesla Model y sold 267 000 units in q1 just above that Toyota Corolla which sells globally uh at 256 000 there for the top two drilling down into those numbers you see that 35 of all model wise are actually sold in China that's up 26 percent year over year and 31 of all model lives were sold in the US that's up a whopping 68 year over year now good news here but like I said before cutting costs does sort of hurt your margins to concern for Tesla investors seeing that margin gross margin numbers dip below 20 percent musk doesn't seem CEO Illinois doesn't seem so worried about it he wants to grow the install base he wants to sell higher margin software products so that's his goal there uh but but also want to note that don't feel too bad about Toyota here because of the top five vehicles four of them were in were Toyota vehicles and they have a global footprint like I mentioned and they're able to sort of weather uh certain concerns or issues that happen that pop around the low territory by territory whereas Tesla is sort of levered to U.S China and Europe as its top three territories so with that in mind then how long do you think Tesla can hold that spot especially if perhaps prices start to change and they then they start to level up whereas some of these you know Legacy companies and a Toyota sort of slow and steady and consistent with their pricing I think that it's with q1 in the books it seems like a good Trend that the trend is positive for Tesla they're probably going to try to grow on that uh within of course China and in EU and the and the US this quarter in Q2 are the First full quarter with the EV tax credit in effect so that should help U.S sales but like I mentioned before at least Toyota can go can sell across multiple territories across the globe Tesla hasn't hasn't done that yet they're not super huge in Asia beyond beyond China uh they're trying to grow in places like Thailand India Indonesia that's up next um so that's that's kind of the plan for Tesla I surmise that Toyota will probably sell a lot more vehicles in the back half there they can sell cheaper gas powered cars hybrids across the globe they're mid-size pickup the Toyota Hilux is a huge seller for them beyond the the Corolla and Beyond the Camry so they have a lot going on I don't know if Tesla will actually win the the overall 2022 or sorry 2023 Global race here but uh good start for them q1 indeed across the Romanian there for us with that update
