Tesla’s situation is so good that it earns eight times more profit from each car than a veteran car manufacturer with a history like Toyota!
Tesla started the production of electric cars with huge losses. But now this company is in a good situation and has proven to everyone that it is possible to make a significant profit by producing electric cars!
Tesla’s situation is so good that it earns eight times more profit from the sale of each car than the veteran car manufacturer with a history like Toyota!
One of the reasons that delayed traditional car manufacturers in the supply of electric cars was frequent losses and the need for large investments.
Naturally, a big company like Toyota has a lot of experience in making best-selling and profitable cars. Despite this, the popular Japanese brand is a little behind the competition in the field of electric cars and still insists on producing a wide range of internal combustion and hybrid models.
Tesla earns more profit with only 4 models
In contrast, Tesla now has only 4 all-electric models Model S, Model X, Model 3, and Model Y on its production lines. The latest product of this company is the small crossover model Y, which will be on the streets from March 2020. Since that date, this company has not introduced any new model, and according to the evidence, it seems unlikely that the Cybertruck pickup will enter the market by the end of next year.
Taking these into account, Tesla earning eight times more profit than Toyota is very interesting and thought-provoking in its own way. This company, which had a dire financial situation not so long ago, has been consistently profitable every quarter for two years. According to the Electrek website, Tesla’s turnover in the third quarter of this year reaches more than 3 billion dollars!
If we want to go into more detail, we have to say that Tesla has announced its net profit of 3.29 billion dollars in the third quarter of 2022.
However, this figure for Toyota in the same period is equal to 3.15 billion dollars. Since Toyota has sold 8 times more cars during this period, experts conclude that Tesla’s profit from the sale of each car is more than the Japanese company.
It should be noted that Toyota owns approximately 3% of Tesla shares. Interestingly, Toyota bought this amount of shares by paying 50 million dollars in 2010. Now Tesla earns this amount within two days!