In the race for profit among the world’s leading car companies, the German company BMW won.
The automotive industry has always been a highly competitive field, where each manufacturer strives to achieve not only recognition for the quality of its product, but also financial success. So, recently it became known which car brand has become the most profitable in the world.
It became the German automobile and aircraft concern BMW. AutoExpress reports this.
BMW, which includes Mini, made a whopping after-tax profit of $18.9 billion last fiscal year.
They are followed by Toyota and Lexus with $18.1 billion, then the Stellantis clan ($17.7 billion), Mercedes ($15.3 billion), Volkswagen Group ($15.2 billion), Tesla ($12.6 billion), General Motors ($9.9 billion), Hyundai ($5.7 billion). ), Honda (4.8 billion) and Kia (4.2 billion).
Second-tier companies such as Volvo, which earned $3.3 billion last year, BYD ($2.5 billion) and Shanghai Automotive ($2.4 billion) are hoping to break into the top 10.
China’s BYD also saw an impressive 423% increase in annual revenue in its last fiscal year. Tesla improved by 128 percent, Hyundai by 32 percent, and BMW by 29 percent.
In addition, some companies face significant challenges. Renault, despite a huge profit of $50 billion last year, suffered a huge loss of almost $0.4 billion. Things are going badly for Ford. They earned $158 billion in the same 12-month period, but estimated an annual loss of $2.0 billion.
It was previously reported that a new entry-level version, eDrive 20, appeared in the BMW iX1 electric crossover line.
Source: korrespondent
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