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Study: Automakers increase profits | automobile week

Despite the chip crisis, Mercedes-Benz, Toyota, Volkswagen and other international automakers earned significantly more in the past year. The operating profit of the world’s 16 largest car companies climbed by 168 percent year-on-year to a total of around 134 billion euros, as determined by the auditing and consulting company EY. “Overall, the top car companies managed the semiconductor crisis remarkably well last year – although sales were down for many companies, the profit situation has developed excellently in some cases,” as the EY expert for the mobility sector in Western Europe, Constantin Gall, summed up .

The supply bottleneck for semiconductors and other electronic components has triggered production restrictions across the industry. A quick improvement is not in sight. Gall said the strategy of installing the scarce chips primarily in comparatively expensive cars while limiting discounts has paid off for the manufacturers. “Margins were at record levels in 2021,” said the expert, referring to the profit-to-sales ratio. According to EY, the US electric car manufacturer Tesla performs best in terms of profit margin compared to the industry giants. He achieved a value of 12.1 percent, just ahead of BMW and Mercedes-Benz, which each achieved twelve percent.

Especially German manufacturers affected

The chip crisis hit the German manufacturers in particular, whose sales fell by four percent. Competitors from Japan, on the other hand, increased by five percent, and South Korea by as much as seven percent. The industry is also struggling with problems this year, said EY partner Peter Fuss. “On the one hand, the lack of semiconductors and other preliminary products and raw materials is hampering production. On the other hand, the war in Ukraine is also putting an enormous strain on the industry.”

In view of these uncertainties, forecasts for this year are hardly possible. The industry drives on sight – “and new car prices will rise rather than fall,” said the expert. (dpa/swi)

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I started to play with tech since middle school. Smart phones, laptops and gadgets are all about my life. Besides, I am also a big fan of Star War. May the force be with you!

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