The very different results of the Car maker In the first half of the year, industry expert Ferdinand Dudenhöffer “revealed hidden problems”. The car sales of the Volkswagen-Group was down 28 percent, from Toyotabuckled by 29 percent. But Volkswagen lost 415 euros per car, while Toyota 533 euros and the French Opel-Mother PPEeven made 707 euros profit per car. This shows “that stronger adjustments must be made in the VW group than at Toyota,” wrote Dudenhöffer in a study.
Time is of the essence, VW has benefited from the China business, which PSA has barely had. And with the merger of PSA and Fiat Chrysler, VW’s economies of scale would also decrease.
The comparison in the upper class is just as surprising. The loss per car sold amounts to BMWaround 1100 euros, at Mercedes and Audi less than 600 and at Volvo only 343 euros, although they had similar sales drops.
High losses in the Corona crisis are “an indicator of the need for adjustment in individual companies,” wrote the industry expert. Because the recovery of the auto markets in Europe and America will take a very long time. “Capacity must therefore be reduced.”
Earned despite the crisis Porsche almost 10,000 euros on each car, Teslaalmost 3000 euros. Dudenhöffer included the US electrical pioneer’s profit from the sale of CO2 certificates to other car manufacturers. Unlike everyone else, Tesla is investing in new plants.
GM has focused on the markets in America and China and is making a profit – Ford is writing deep red numbers. The new Ford boss Jim Farley (58) is likely to weigh up in the next few months whether and how the European business can be restructured sustainably, Dudenhöffer expects.