The most profitable car manufacturer in Europe last year was Stellantis. The multi-brand group reports an operating profit of 24 billion euros for 2023, putting it, as in the previous year, ahead of Volkswagen (23 billion euros) and Mercedes-Benz (20 billion euros).
According to a list from “Automotive News”, BMW follows in fourth place with 18 billion euros. In terms of operating profit, the European quartet is ahead of the US companies General Motors (11 billion euros), Ford (10 billion euros) and Tesla (8 billion euros). Also the Korean manufacturers Hyundai (11 billion euros) and Kia (8 billion Euro) stay at a distance. Changes in the ranking are likely to occur when the figures for Toyota’s fiscal year, which ended on March 31, are announced. In addition to European brands such as Peugeot, Citroen, Opel and Fiat, Stellantis also includes the US brands Jeep, Chrysler and Dodge and Ram. CEO Carlos Tavares is known as a cost-cutter and has recently accepted losses in market share in order to achieve high profitability, especially in Europe.
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