Print Edition - 2017-04-05 | Money Digest
Profitable car companies are German: Report
Apr 5, 2017-
According to an April report from Ernst & Young, BMW, with an earnings before interest and taxes profit margin of 10 percent, and Daimler, with 8.4percent, were the world’s most profitable car companies in 2016. The German companies were ahead of Toyota (7.8 percent), the world’s largest car company in terms of sales and operating profit. German manufacturers also narrowed the gap with their Japanese rivals from a difference of 83.4 billion euros (89 billion US dollars) of sales in 2015 to 41.1 billion euros in 2016. German manufacturer (BMW, Daimler and Volkswagen) sales rose from 454.9 billion euros in 2015 to 464.7 billion euros in 2016, whereas Japanese manufacturer sales fell from 538.3 billion euros to 505.8 billion euros.
Published: 05-04-2017 08:53