20 Major International Auto Companies' 2020 Earnings Report: 30% Have Net Losses, Toyota Is Still The Most Profitable
In 2020, the new crown virus pandemic has severely hit the automotive industry. Due to restrictions on consumer travel, many car factories around the world have been forced to close, and the decline in car sales is a natural result. Last year, global car sales (including passenger cars, pickup trucks and light commercial vehicles) fell 13% year-on-year to 78.35 million units, the lowest level since 2011.
In terms of regions, China is still the world's largest single car market, accounting for 33% of the global market share, but car sales in the Chinese market also fell slightly last year; U.S. light vehicle sales fell by 14% year-on-year, a record low since 2012. The U.S. and Canada accounted for 21% of the global auto market last year; European car sales fell 24% year-on-year, the largest decline in 30 years, and Europe-Turkey accounted for 19% of the global market last year.
In 2020, both in terms of sales volume and operating profit, the Toyota Motor Group ranks first among the world's mainstream automakers. Last year, Toyota's annual sales (down 11.3% year-on-year to 9.528 million units) surpassed its German rival Volkswagen Group (down 15.2% year-on-year to 9.305 million units), and it won the sales crown again after 5 years; Operating profit exceeded 17.3 billion U.S. dollars, surpassing Volkswagen (12.64 billion U.S. dollars) by nearly 4.7 billion U.S. dollars. However, in terms of revenue, Volkswagen still ranks first among the world's mainstream automakers, with US$265.72 billion, followed by Toyota with US$243.73 billion. Compared with 2019, Toyota and Volkswagen's revenue and operating profit both experienced double-digit declines year-on-year.
