Elon Musk claims that the Tesla Model Y would become the world's best-selling car by next year.

That distinction currently goes to the Toyota Corolla.

According to Elon Musk, the Tesla Model Y will surpass all other automobiles in terms of global sales by the end of the following year. 

One of the two "cheap" Teslas now on sale, along with the Model 3, is the Model Y.

It is a tiny crossover that went into production the next year after being first displayed in March 2019.

The Model Y is based on the Model 3 and shares the majority of its components, including the interior and drivetrain, with the sedan. 

However, it also has optional third-row seats for a seating capacity of seven passengers.

Having sold more than 936,000 vehicles worldwide in 2017, Tesla is one of the top manufacturers of electric vehicles.

The business has four models in its lineup, including the premium Model S and Model X in addition to the more reasonably priced Model 3 and Model Y.

The business formerly held the top spot in the sector on a worldwide scale, 

but Chinese automaker BYD overcame it earlier this year to take the title of top EV producer.