Autos deepdive 🚗
How they make money?
Today, we are sharing a summary of the 2022 financial reports from major global automotive companies, including Tesla, BYD, Volkswagen, Mercedes-Benz, BMW, General Motors, Ford, and Toyota.
Electric Vehicles (EVs)
2022 witnessed a robust surge in the electric vehicle market, with many companies reaping substantial performance rewards. Both 🇺🇸American company Tesla and 🇨🇳Chinese firm BYD achieved historic milestones during this year.
Tesla: Tesla, undoubtedly the world's largest EV company, reported impressive results. Tesla's revenue is primarily derived from three main segments: automotive sales, services, and energy generation and storage. In 2022, Tesla's total revenue reached $81.5 billion, marking a remarkable 51% increase from the previous year. However, net income soared even higher, witnessing a 128% growth.
Comparatively, when looking at leading automotive companies in China and the United States, Chinese companies still lag significantly behind their American counterparts in terms of revenue scale and net profit. However, Chinese companies generally exhibit a faster growth rate in net profit.
BYD: BYD, after completely abandoning traditional fuel vehicles last year, reported a net profit of ¥17.7 billion in 2022, reflecting a remarkable 319% year-on-year increase. BYD attributed this substantial growth to the ongoing explosive expansion of the new energy vehicle industry🚗🔋.
🚗Below is a summary of the 2022 financial reports for major global automotive companies, including Volkswagen, Mercedes-Benz, BMW, General Motors, Ford, and Toyota.