Which automaker earns the most per car

Methodology

Profit per vehicle = operating profit of the automotive business divided by worldwide vehicle sales, both from the latest fiscal year. Profit here means the operating result of the automotive segment, not consolidated net income: taxes, financial services, investments and one-off effects stay out so the pure automotive profitability becomes visible. Specifically, we approximate the operating result as the reported operating margin of the automotive segment multiplied by group revenue; for diversified groups with large financial or non-automotive divisions (such as Volkswagen) this can slightly overstate the value. The operating margin comes from the reported segment figures of the consolidated financial statements, vehicle sales from the official sales releases. The metric shows how much a manufacturer earns operationally on every single car it sells, the industry's sharpest profitability statement. Pure commercial vehicle and truck makers are excluded, as are conglomerates such as Xiaomi whose result mostly comes from non-automotive business and would be misleading per car. Losses appear as negative values.

All information is provided for informational purposes only and does not constitute investment advice. Financial figures may be delayed, preliminary or contain errors. No guarantee of accuracy, completeness or timeliness. Exchange rates: European Central Bank.