Tesla Makes 8x More Profit Per Car Compared To Toyota
Each Tesla car that the company sells reportedly earns it around eight times more than a car sold by Toyota.
The news comes as Tesla continues to struggle to meet demand for its cars around the globe, and companies like Toyota work to play catchup in a market that is increasingly EV-focused.
Now, Nikkei Asia reports that Tesla raked in $3.29 billion in net profit last quarter — compared to the 434.2 billion yen (roughly $3.15 billion USD) that Toyota managed to bring in during the same period.
The napkin math that Nikkei Asia and Electrek use to get to its 8x figure is simple — Toyota sold almost eight times more cars during that time.
As the same report notes, Toyota once owned around 3% of Tesla around a decade ago, but there have been no ties between the two since 2017. Whether Toyota sees that as a good move in 2022 isn’t clear, but it does seem unlikely.
There are, of course, plenty of differences between Toyota and Tesla and the former continues to work to close the gap between the two companies.
But right now Tesla could do with a hand in something that the Japanese carmaker has historically been great at — building lots of cars consistently. If Tesla was able to sell as many cars as its customers seem willing to buy, just imagine how much money it might have made.