Tesla earns 5 times more per car than Toyota, earnings show

EV maker catching up to Japan's top automaker in net profit

Tesla electric vehicles at a sales and service center in California. The U.S. EV maker has a limited lineup of just four high-end models. © Reuters

KEI MIYATA and YUKI FUKUMOTO, Nikkei staff writers

February 10, 2023 05:20 JST

NAGOYA, Japan -- Toyota Motor earned less than a fifth in per-vehicle earnings compared with Tesla during the April-December period as Japan's giant automaker struggles to absorb rising costs.

Toyota earned 240,000 yen ($1,820) in net profit per unit during that time span last year. In contrast, Tesla raked in the equivalent of 1.26 million yen per vehicle during the same period.