Tesla Made 8 Times More Profit Per Car Than Toyota | Carscoops carscoops
7 to 1 during the third quarter of this year but it is the electric car manufacturer that reported higher net profits for the period.
In fact, Tesla reported a $3.29 billion net profit in the July-September quarter compared with a $3.15 billion net profit for Toyota, meaning Tesla earned eight times as much profit per vehicle as Toyota.profits shrank in the third quarter due to a host of factors, including increased material and electricity costs for its suppliers. These added costs pushed down quarterly operating profit by some 450 billion yen . Toyota also booked a one-time expense of 96.
While Toyota was trailing Tesla on net profit, it came out ahead in operating profit, returning $4.08 billion compared to Tesla’s $3.69 billion. While it took Tesla many years to become profitable, but it’s now one of the best-performing companies in the automotive industry. This is primarily because its
is much higher than most, returning $9,570 per profit for each car produced, significantly more than Toyota’s profit per vehicle of $1,200.
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