After analyzing the data on the number of cars sold in the world in 2024, we can say that it is clear that very important changes are taking place in this sector. Looking at volumes, for example, it is clear that there is a shift in production and sales from the USA and Europe to China. But can the same be said when looking at the financial results of the companies?
Last year, the global automotive industry sold approximately 73 million cars, generating total revenues of 2.38 trillion euros. On average, this means a revenue of 32,548 euros for each unit sold or delivered. But that profit isn't distributed that way.
According to the official financial statements of the 30 companies analyzed, total revenue (which is basically the money that automakers receive from selling their cars) increased by 2.4%, taking into account exchange rates, between December 31, 2023 and 2024.
This is actually a significant increase, considering that these companies as a whole sold nearly 50,000 fewer cars than the previous year. In other words, the increase in revenue can be explained by exchange rate fluctuations and, above all, higher car prices.
Ferrari, the money machine of the automotive industry
Once again, Ferrari dominates the profitability ranking with impressive results. In 2024, this Italian company earned 1.88 billion euros on a total revenue of 6.68 billion. This means that just over 28% of the value of each car went into the so-called operating profit. In other words, Ferrari will earn an average of €136,671 for each car delivered in 2024.
If this result seems extraordinary, it is even more impressive compared to the previous year. In 2023, Ferrari earned €117,927 per car, which means it managed to increase its operating profit per car delivered by 16%.
Suzuki is the third most profitable manufacturer
However, in the real world, where people drive normal cars, the best performance is that of Suzuki. Its operating margin (the percentage of sales that a company earns after paying operating expenses) increased from 8.48% in 2023 to 10.30% in 2024. While this may seem small, it is the largest increase among the 30 companies analyzed.
This Japanese manufacturer is the third most profitable manufacturer in the world, behind only two supercar manufacturers: Ferrari and Porsche, and is another example of how a car manufacturer can be successful even without producing luxury cars.
At the other extreme is China's Great Wall, whose cars are also sold in our country. As with sales volumes, GWM also saw a sharp decline in profitability. Their margin fell to 0.87% last year, making it the worst-performing automaker.
The most profitable auto companies in 2024
The least profitable car manufacturers in 2024
