Toyota & Suzuki Make more money per car than compared to Kia, Honda, Hyundai, and Fiat.
Updated: Jun 1
2020 was a difficult year for carmakers across the globe. The primary reason for the slowdown covid pandemic along with chip shortage and the stagnating of many markets. The US market too didn’t rise up very well in 2020 and has impacted the profitability of car makers across the world. As per the data published by 19 of the global carmakers indicated that they registered fewer profits in 2020.
As per the data collated by CarIndustryAnalysis, Ferrari had the highest operating profits. This means Ferrari earned more money per car sold in 2020. For Comparison: BMW Group needs to sell 30 units in order to earn the same amount of money made by only 1 Ferrari; while Nissan Group has to sell 926 cars!
Next in line came Toyota with global volume it managed a handsome operating margin of about 7.1%
Tesla continues to push the bar with a rank of 3 on the charts with 6.3%.
One shouldn't forget to notice GWM, which was also trying to enter the Indian market and had purchased GM's Talegaon facility registered a 5.6% operating margin. It was the sole Chinese OEM in the Top 5. It was followed by Geely (which also owns brands like Volvo, Polestar, etc) ranked 7th with an operating margin of 5.4%.
Suzuki had registered a 6% operating margin which was higher than Fiat which managed 4.3% and Kia which managed 3.5%. Honda surprisingly with a drop-in ranking had a lower operating margin of 2.7%.
VW group has continued to drop their average operating margins and have registered 4.3%