Despite the difficulties: record results for BMW and Mercedes-Benz

However, the main factor in the increase in profits was a special effect: the weak yen helped Japanese car companies to increase profits by almost two-thirds and increase sales by 22 percent. The US market was particularly weak: Here, the company’s profits fell by almost 30. Profitability increased slightly: the average level of EBIT, which relates to operating results and sales, was 8.6 percent. This was the third year in a row that it was above 8 percent. For comparison: In the five years before the corona epidemic broke out, the highest rate was an average of 5.5 percent.

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On average, sales in China decreased by 5.4 percent. Chinese electric car makers are increasingly attacking established manufacturers in their home markets, Gall said. This challenge will be more intense in the coming years, the car expert continued.

With an EBIT margin of 12.8 percent, Mercedes-Benz was the most profitable car company last year. The Stuttgart company was ahead of Stellantis (12.1 percent) and BMW (11.9 percent). Tesla, in sixth place in the ranking, however, recorded the largest decrease: from 16.8 percent in 2022, it dropped to 9.2 percent. This put the company in the midfield. The Volkswagen Group takes the tenth place. American car manufacturer Ford brings back. Sales also slowed in China: with the exception of Volkswagen and BMW, all manufacturers surveyed sold fewer cars on the Chinese market in 2023.