Who would’ve believed that ? Just a year ago, Tesla’s meager profits came largely from the sale of CO2 credits. Today, against all odds, the champion of the electric car has also become the champion of profitability in the automotive industry.
According to the ranking established by the EY firm based on the 2021 accounts of the world’s top 16 manufacturers (excluding Chinese and Indian, and adjusted for currency effects), Elon Musk’s firm generated an operating margin last year ( Ebit on turnover) of 12.1%, ahead of the premium German manufacturers BMW and Mercedes. The American company generated $5.5 billion in net profit in 2021, selling 936,000 cars. The ranking of manufacturers according to profitability is, to say the least, different from the Top 10 by volume.