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Is Tesla Stock A Buy Or A Sell With The Model Y Now The Best-Selling Vehicle In The World?

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"A Tesla (TSLA) vehicle was the globe's best-selling car in the the first quarter of 2023 as Chief Executive Elon Musk recently hinted new Tesla products are coming, that he is open to advertising and confirmed a Cybertruck delivery event will take place this year.

The Tesla Model Y was the world's best-selling vehicle in Q1, according to data compiled by industry analyst JATO Dynamics for Motor1. The Model Y had 267,200 sales in Q1, according to data from 53 markets and estimates for the rest of the world.

The result comes as Tesla has cut Model Y prices early in 2023.

Meanwhile, Tesla held its annual shareholder just days after Musk announced there will be a new person heading up Twitter, signaling to TSLA investors he will have more time to spend on the global EV giant.

During the gathering, Musk announced a spur-of-the-moment decision to possibly change Tesla's advertisement strategy.

"I believe in taking suggestions, so we'll try a little advertising and see how it goes," Musk told investors. The Tesla chief later told CNBC there is "perhaps some good logic" in going with paid ads.

The decision marks a change of heart as Musk has for years suggested Tesla does not need to advertise.

"Tesla does not advertise or pay for endorsements. Instead, we use that money to make the product great," Musk said in a 2019 tweet.

While Musk did not announce any new products , saying "this is not the time," the Tesla CEO did say there are two projects in the pipeline.

"I just want to emphasize that we are actually building a new product," Musk said. "There are two new products I think you will be very excited about."

He also shot down rumors he is stepping down from his role as Tesla CEO."



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