Tesla is more profitable than Ford and GM; "and" not "or". Exactly, if calculated per vehicle sold, Tesla's profit is double that of Ford and GM combined.
Tesla achieved a profit of $12.6 billion in 2022, compared to GM's profit of $9.9 billion and Ford's loss of $2 billion.
That's an astonishing result for a company that doesn't even sell cars to the masses. Tesla does not sell internal combustion engine or hybrid cars, does not make urban and mid-sized sedans, nor does it make SUVs or pickup trucks - the Cybertruck model is still being completed.
A report by Nikkei Asia said that Tesla "pockets" five times more than Toyota if calculated per vehicle. From April to December last year, Tesla profited an average of 1.26 million yen (9,618 USD) per vehicle, while Toyota only profited 240,000 yen (1,832 USD), which is a difference of up to 5 times.
Part of the reason is the increase in material costs, affecting the entire auto industry. However, Toyota suffered quite badly. The Japanese automaker's expenses are said to have increased by 1.1 trillion yen ($8.36 billion) and they still have to bear the brunt of rising fuel costs.
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