VW, Toyota and Stellantis drive car industry to record revenues
Inflation and the sale of models with more equipment drive the turnover of motor giants to more than 1.04 trillion, which contrasts with minimal profitability.
The global automobile sector saw a record high in revenue during the first half of the year, reaching 1.04 trillion euros, according to a report by EY. Volkswagen led the pack with 158.102 billion euros in revenue, closely followed by Toyota with 141.627 billion euros. Despite the growth in revenue, the industry struggled with profitability, with a average operating margin of 4.2%, the second lowest since 2020.
Major manufacturers such as Volkswagen, Toyota, and General Motors saw varying degrees of success, with some experiencing declines in profit, while others like Ford and Mitsubishi saw significant improvements.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
