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Charted: Carmakers’ Revenue per Employee

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Graphic showing carmaker's revenue per employee.

Top 20 Carmakers Ranked by Revenue per Employee

Revenue per employee is an important ratio that roughly measures how much money each employee generates for the company.

In this graphic, creator David Zuleta ranks the top 20 automakers by the revenue generated per employee. Data is based on each company’s market capitalization in 2023, using companiesmarketcap.com.

Kia Leads in Revenue Efficiency

Measuring carmakers’ revenue per employee, Kia emerges as the front-runner, leaving industry giants like Ford and General Motors trailing behind.

The South Korean automaker reached $2.13 million in revenue per employee in 2023. The company’s 34,178 workforce generated a total of $72.67 billion in revenue last year.

CompanyEmployeesRevenue (USD billions)Revenue per Employee (USD millions)
Kia34,178$72.67$2.13
Hyundai63,942$117.98$1.85
Ferrari4,961$5.85$1.18
Polestar2,377$2.65$1.12
BMW149,475$159.50$1.07
General Motors167,000$169,72$1.02
Ford173,000$169.81$0.98
Mercedes-Benz169,355$160.61$0.95
Maruti Suzuki India16,259$13.82$0.85
Volvo Car42,300$35.89$0.85
Subaru37,521$29.15$0.78
Toyota375,235$283.97$0.76
Aston Martin2,473$1.83$0.74
Tofaş Türk5,528$4.07$0.74
Tesla127,855$94.02$0.74
Mitsubishi Motors28,428$18.59$0.65
Honda197,039$128.24$0.65
Mazda48,481$31.17$0.64
Nissan131,719$82.57$0.63
Ford Otosan21,007$12.26$0.58

The figure starkly contrasts with the last one on the list, Ford Otosan. The company, equally owned by Ford Motor Company and Koç Holding and based in Turkey, only generated $580,000 per employee, despite its considerable revenue of $12.26 billion.

The presence of Ferrari in the top tier, with $1.18 million per employee, underscores a different strategy where lower volume, high-margin luxury vehicles result in significant revenue per employee.

Among the bigger automakers, BMW and General Motors lead the pack with $1.07 million and $1.02 million per employee, respectively, translating their substantial employee bases into robust revenue streams.

Meanwhile, Tesla, despite its groundbreaking technology, registered revenue of only $740,000 per worker, equal to Aston Martin and Turkish Tofaş Tür. Way ahead of Tesla, another EV maker, Swedish Polestar, achieved $1.12 million and reached fourth place in our rank.

As the data shows, efficiency doesn’t solely reside in the size of the workforce or the legacy of the brand but is also tied to the strategic utilization of human resources.

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This article was published as a part of Visual Capitalist's Creator Program, which features data-driven visuals from some of our favorite Creators around the world.

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Automotive

Almost Every EV Stock is Down After Q1 2024

We compiled the performance of 10 pure play EV stocks into one chart, revealing one company that bucked the broader trend.

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Almost Every EV Stock is Down After Q1 2024

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

While the S&P 500 index climbed over 10% in Q1 2024, the majority of EV stocks declined by double digit percentages over the period.

This is surprising, given that EVs were once the hottest trend in tech (before artificial intelligence came around).

In this graphic, we’ve visualized the Q1 2024 performance of 10 prominent pure play EV companies. Pure play in this context means companies that only focus on electric vehicles.

EV Stock Performance

The data we used to create this graphic can be found in the table below. Note the two biggest outliers: Nikola (+24.9%) and Fisker (-98.7%).

CompanyQ1 Price Change (%)
Nikola+24.9
Li Auto-12.5
Tesla-29.2
VinFast-29.5
Polestar-30.3
Lucid-31.3
XPeng-45.3
Nio-46.6
Rivian-48.1
Fisker-98.7

The majority of EV stocks have fallen due to slowing demand in major markets like the U.S. and China. This is a serious problem for startups like Rivian and Lucid, which are not yet profitable.

In fact, legacy automakers like Ford are looking to expand production of hybrid vehicles, which is likely causing many investors to avoid pure EV stocks.

Two Outliers Emerge

Nikola shares have rallied in recent weeks as the company reported positive momentum in its hydrogen fuel cell truck business. The company also opened its first hydrogen refueling station in Southern California, and has five more in the works.

On the flipside, Fisker Inc. has struggled enormously, even being delisted from the NYSE in late March 2024. Fisker Inc. is the successor to Fisker Automotive, which went bankrupt in 2013. Fisker Automotive was known for producing the Karma, a luxury EV sedan that competed with the Tesla Model S.

Back to today’s Fisker, the company is once again in hot water. Over 40,000 customers have cancelled reservations for the company’s “Ocean” electric SUV, which is currently under investigation for door malfunctions.

Other Major EV Developments

In other news, Tesla is once again the world’s best-selling EV company, after outselling China’s BYD by 87,000 units in Q1 2024.

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