In 2019, automakers sold over 17 million new cars in the United States alone, and we know cars don’t come cheap. The shift to crossovers and SUVs has driven up prices as consumers flock to larger vehicles. This means that these companies are making huge profits and a new study of VisualCapitalist.com shows how much automakers produced per second in 2019.
The study looked at gross revenues last year for 19 automakers, which produced 92 million new vehicles globally, and two have a significant lead over the rest of the pack – VW Group and Toyota. They earned $ 9,202.88 and $ 8,946.58 per second last year, respectively. That’s a lot of money, and a lot more than # 3 automaker Ford, which raked in $ 4,946.58 per second.
Seeing the VW group at the top is not surprising given the number of brands under the umbrella: Lamborghini, VW, Audi, Porsche, Bentley, Bugatti, etc. Toyota is a surprise at the top with far fewer brands than the VW Group, offering its mainstream Toyota lineup and Lexus luxury models. It also won nearly double that of its Japanese rival Honda, which made $ 4,537.67.
The bottom of the list has automakers like Tesla and Subaru, both of which were making less than $ 1,000 per second: $ 780.06 and $ 904.05, respectively. Mazda squeaked just above Subaru at $ 1,017.88 a second, while Suzuki earned a little more – $ 1,104.86. These single-brand automakers do not have the volume of other larger automakers, which limits their reach, production capacity and sales.
Looking at the data, GM made more than FCA, $ 4,351.76 to $ 3,856.10, and BMW made several hundred dollars more than Mercedes. Even Hyundai topped Kia – $ 2,879.25 to $ 1,585.49. The size and scale of the global auto industry is vast, and this study reaffirms how vital it is to the global economy. Even the smallest automakers are still making billions of dollars a year.