The automotive industry continues to be one of the world’s largest industries with an annual economic volume exceeding $3 trillion. However, who gets how much of this huge pie is determined by the profit obtained per vehicle rather than the sales figures. The 2024 data of the European Automobile Manufacturers Association (ACEA) has presented a striking picture in this regard.
The automobile brands that make the most profit per vehicle have been determined
Approximately 74.6 million passenger vehicles were sold worldwide last year. China was the clear leader with 26 million units, while the US was ranked with 16 million, India with 4.27 million, and Japan with 4.25 million units. Europe’s total was further behind with 10.6 million.
Toyota took the lead in terms of brands with 9.09 million vehicles sold. It was followed by Volkswagen (4.93 million), BYD (3.8 million), Honda (3.74 million), and Nissan (over 3 million). However, sales numbers alone do not indicate the financial success of brands.
The brands at the top of the list in terms of profitability are usually luxury brands that produce low-volume but high-priced models. Ferrari sold only 13,752 vehicles in 2024, but made a net profit of 1.88 billion euros from these sales. This means an average profit of 136,700 euros per vehicle.
Ferrari is followed by Porsche, which fell behind due to the decline in demand for electric models. Porsche’s average profit per vehicle is 18,140 euros. The surprise name in third place is Suzuki. Despite not having a distributor network in major markets such as China and the US, it ranked high on the list by making a net profit of 1,130 euros per vehicle in 2024.
The average profit per vehicle by brand is as follows:
- Ferrari: 136,700 euros
- Porsche: 18,140 euros
- Mercedes-Benz: 5,690 euros
- BMW: 4,690 euros
- Tesla: 3,800 euros
- Subaru: 3,030 euros
- Toyota: 2,710 euros
- Volvo: 2,550 euros
- Hyundai/Kia: 2,430 euros
- Honda: 2,320 euros
- Volkswagen: 2,110 euros
- Land Rover: 1,790 euros
- BYD: 1,560 euros
- Renault: 1,140 euros
- Suzuki: 1,130 euros
On the electric vehicle side, the picture is reversed. Due to high R&D costs, competitive pressure and production processes that cannot achieve economies of scale, many manufacturers are losing money per vehicle. It is stated that Chinese Leapmotor loses 1,420 euros from each vehicle.
Xiaomi lost $9,200 per vehicle last year, but this year it reduced this figure to $900. However, it continues to lose money. Brands such as Xpeng, Nio, Rivian and Lucid also face similar operational deficits.
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