How Much Revenue Automakers Generate Every Second
Since their invention, automobiles have been a driving force of the global economy.
Used by millions of people to get to work, transport goods, and travel, the modern automobile has become ubiquitous in our daily lives. So much so, that a whopping 92 million cars were produced in just 2019.
To help us understand the might of the auto industry, this infographic from Parts Geek breaks down the earnings of 19 major car companies by an interesting metric—revenue per second.
The Full List of Automakers
Below are the earnings of the 19 automakers featured in the infographic.
The Volkswagen Group claims the top spot with $290.2B in gross revenue, translating to $9,202.88 per second. Capping off the list is the world’s most valuable automaker, Tesla, which generated a relatively smaller $24.6B in gross revenue, or $780.06 per second.
|Automaker||2019 Gross Revenue ($)||2019 Gross Revenue per Second ($)|
A clear takeaway from this data is that Volkswagen and Toyota have a sizable lead over the rest of their peers. Let’s take a closer look at how these two companies operate.
The Volkswagen Group
The Volkswagen Group holds a comprehensive portfolio of brands and services, and has been the world’s largest automaker, by sales, for the past three years.
Beginning with passenger cars and motorcycles, its numerous brands reported the following results for 2019.
|Brand||Vehicle Sales||Sales Revenue* ($)||Average Revenue per Vehicle ($)|
|Audi (includes Lamborghini and Ducatti)||1,200,000||$62.4B||$52,028|
*Based on an exchange rate of 1.12 EUR/USD (Dec. 31, 2019)
Other sources of revenue were Volkswagen’s $44.5B commercial vehicle business, its $4.7B power engineering business, and lastly its $44.4B financial services division.
In total, the Volkswagen Group delivered just short of 11 million vehicles in 2019, besting its 2018 deliveries by 1.3% and setting a new record for the group. While a majority of these vehicles were produced in Europe, the group operates a global production network with a significant presence in Asia.
|Region||Number of locations||Share of total production|
The German automaker has invested billions in China, the world’s largest car market, to scale its electric vehicle (EV) production capabilities.
Toyota Motor Corporation
Toyota Motor Corporation operates a much more concentrated brand portfolio, with Toyota and Lexus being its two most prominent names. This strategy seems to be working well, as Toyota was ranked the ninth most valuable brand in 2019, and was the only automaker to crack the top ten.
A testament to Toyota’s global influence is its relatively balanced breakdown of 2019 revenues by regional market:
- North America: 30%
- Japan: 25%
- Asia: 18%
- Europe: 11.5%
- Other: 15.3%
For comparison, here is Volkswagen’s 2019 revenues by region, which leans heavily towards Europe:
- Europe (excl. Germany): 42%
- Germany: 19%
- North America: 17%
- South America: 4%
- Asia-Pacific: 17%
The Japanese automaker’s popularity in foreign regions is likely the result of its reputation for reliability and affordability. It may also explain why Toyota’s trucks are a common sight in tough environments such as conflict zones of the developing world.
Altogether, Toyota and its subsidiaries sold nearly 9 million vehicles in 2019, setting a new record for the company but just 0.1% higher than its 2018 figure. Similar to Volkswagen, a majority of Toyota’s vehicles are produced in its home region, with the remainder being built around the world.
|Region||Share of total production|
Outside of Japan, Toyota has significant production capabilities in the U.S., where it makes everything from pickup trucks to sedans. In 2016, the Toyota Camry made headlines after being ranked the most American-made car—over 75% of its parts were sourced domestically.
Alternative Revenue Sources
While automobiles represent the core business for these companies, many of them have alternative revenue sources. Honda, for example, produces motorcycles, boat engines, lawn mowers, and even personal jets.
Porsche takes a slightly different approach with its accessories and licensing subsidiary, Porsche Design. Since 2003, a variety of lifestyle goods including eyewear, smartphones, and watches have been sold under the Porsche name. Its most noteworthy project is the Porsche Design Tower Miami, a residential skyscraper which features a robotic car elevator.
Finally, electric vehicle (EV) maker Tesla earns additional revenues by selling carbon credits to other automakers that fail to meet government-imposed quotas on EV sales. Since Tesla only produces EVs, it has no need for its credits and is free to sell them. In the second quarter of 2020, Tesla earned $428 million from selling carbon credits, representing 7% of its total revenues for the period.
The Road Ahead
Additional revenue streams are continuing to open up as automakers integrate new technologies into their cars.
Cadillac and Tesla, two American brands, have both announced that their self-driving capabilities will eventually become a paid subscription service. Meanwhile, Germany’s premium automakers are expanding into wireless services. BMW claims it will become the first automaker to offer 5G connectivity in its cars, while Mercedes now sells downloadable software packages to enhance a driver’s experience.
While it’s too early to say whether or not these services will have a significant impact on an automaker’s bottom line, forecasts claim this so-called “connected car market” will be worth $166 billion by 2025. To put that into perspective, that’s more than half of Volkswagen’s gross revenue in 2019, or $5,264 per second.
Interactive: EV Charging Stations Across the U.S. Mapped
Looking for an EV charging station in the states? This interactive map contains every EV charging station in America.
Electric Vehicle Charging Stations Across America: Mapped
As the electric vehicle market continues to expand, having enough EV charging stations is essential to enable longer driving ranges and lower wait times at chargers.
Currently, the U.S. has about 140,000 public EV chargers distributed across almost 53,000 charging stations, which are still far outnumbered by the 145,000 gas fueling stations in the country.
This graphic maps out EV charging stations across the U.S. using data from the National Renewable Energy Lab. The map has interactive features when viewed on desktop, showing pricing structures and the connector types when hovering over a charging station, along with filtering options.
Which States Lead in EV Charging Infrastructure?
As seen in the map above, most electric vehicle charging stations in the U.S. are located on the west and east coasts of the nation, while the Midwest strip is fairly barren aside from the state of Colorado.
California has the highest number of EV charging stations at 15,182, making up an impressive 29% of all charging stations in America. In fact, the Golden State has nearly double the chargers of the following three states, New York (3,085), Florida (2,858), and Texas (2,419) combined.
|Rank||State||Number of charging stations||Share of U.S. charging stations|
It’s no surprise the four top states by GDP have the highest number of EV chargers, and California’s significant lead is also unsurprising considering its ambition to completely phase out the sale of new gas vehicles by 2035.
The Best States for EV Charging Speeds and Cost
While having many charging stations distributed across a state is important, two other factors determine charging convenience: cost and charger level availability.
EV charger pricing structures and charger level availability across the nation are a Wild West with no set rules and few clear expectations.
Finding Free Electric Vehicle Chargers Across States
Generous electric vehicle charging locations will offer unlimited free charging or a time cap between 30 minutes and 4 hours of free charging before payment is required. Some EV charging stations located in parking structures simply require a parking fee, while others might have a flat charging fee per session, charge by kWh consumed, or have an hourly rate.
While California leads in terms of the raw amount of free chargers available in the state, it’s actually the second-worst in the top 10 states when it comes to the share of chargers, at only 11% of them free for 30 minutes or more.
|Rank||State name||Number of free charging stations||Share of free charging stations in the state|
Meanwhile, Maryland leads with almost 30% of the chargers in the state that offer a minimum of 30 minutes of free charging. On the other hand, Massachusetts is the stingiest state of the top 10, with only 6% of charging stations (150 total) in the state offering free charging for electric vehicle drivers.
The States with the Best DC Fast Charger Availability
While free EV chargers are great, having access to fast chargers can matter just as much, depending on how much you value your time. Most EV drivers across the U.S. will have access to level 2 chargers, with more than 86% of charging stations in the country having level 2 chargers available.
Although level 2 charging (4-10 hours from empty to full charge) beats the snail’s pace of level 1 charging (40-50 hours from empty to full charge), between busy schedules and many charging stations that are only free for the first 30 minutes, DC fast charger availability is almost a necessity.
Direct current fast chargers can charge an electric vehicle from empty to 80% in 20-60 minutes but are only available at 12% of America’s EV charging stations today.
|Rank||State||Number of stations with DC fast charger available||Share of DC fast charger available stations in state||Share of free and DC fast charger available stations in state|
Just like free stations, Maryland leads the top 10 states in having the highest share of DC fast chargers at 16%. While Massachusetts was the worst state for DC charger availability at 6%, the state of New York was second worst at 8% despite its large number of chargers overall. All other states in the top 10 have DC chargers available in at least one in 10 charging stations.
As for the holy grail of charging stations, with free charging and DC fast charger availability, almost 1% of the country’s charging stations are there. So if you’re hoping for free and DC fast charging, the chances in most states are around one in 100.
The Future of America’s EV Charging Infrastructure
As America works towards Biden’s goal of having half of all new vehicles sold in 2030 be zero-emissions vehicles (battery electric, plug-in hybrid electric, or fuel cell electric), charging infrastructure across the nation is essential in improving accessibility and convenience for drivers.
The Biden administration has given early approval to 35 states’ EV infrastructure plans, granting them access to $900 million in funding as part of the $5 billion National Electric Vehicle Infrastructure (NEVI) Formula Program set to be distributed over the next five years.
Along with this program, a $2.5 billion Discretionary Grant Program aims to increase EV charging access in rural, undeserved, and overburdened communities, along with the Inflation Reduction Act’s $3 billion dedicated to supporting access to EV charging for economically disadvantaged communities.
With more than $10 billion being invested into EV charging infrastructure over the next five years and more than half the sum focused on communities with poor current access, charger availability across America is set to continue improving in the coming years.
Visualizing the Range of Electric Cars vs. Gas-Powered Cars
With range anxiety being a barrier to EV adoption, how far can an electric car go on one charge, and how do EV ranges compare with gas cars?
The Range of Electric Cars vs. Gas-Powered Cars
EV adoption has grown rapidly in recent years, but many prospective buyers still have doubts about electric car ranges.
In fact, 33% of new car buyers chose range anxiety—the concern about how far an EV can drive on a full charge—as their top inhibitor to purchasing electric cars in a survey conducted by EY.
So, how far can the average electric car go on one charge, and how does that compare with the typical range of gas-powered cars?
The Rise in EV Ranges
Thanks to improvements in battery technology, the average range of electric cars has more than doubled over the last decade, according to data from the International Energy Agency (IEA).
|Year||Avg. EV Range||Maximum EV Range|
|2010||79 miles (127 km)||N/A|
|2011||86 miles (138 km)||94 miles (151 km)|
|2012||99 miles (159 km)||265 miles (426 km)|
|2013||117 miles (188 km)||265 miles (426 km)|
|2014||130 miles (209 km)||265 miles (426 km)|
|2015||131 miles (211 km)||270 miles (435 km)|
|2016||145 miles (233 km)||315 miles (507 km)|
|2017||151 miles (243 km)||335 miles (539 km)|
|2018||189 miles (304 km)||335 miles (539 km)|
|2019||209 miles (336 km)||370 miles (595 km)|
|2020||210 miles (338 km)||402 miles (647 km)|
|2021||217 miles (349 km)||520 miles* (837 km)|
As of 2021, the average battery-powered EV could travel 217 miles (349 km) on a single charge. It represents a 44% increase from 151 miles (243 km) in 2017 and a 152% increase relative to a decade ago.
Despite the steady growth, EVs still fall short when compared to gas-powered cars. For example, in 2021, the median gas car range (on one full tank) in the U.S. was around 413 miles (664 km)—nearly double what the average EV would cover.
As automakers roll out new models, electric car ranges are likely to continue increasing and could soon match those of their gas-powered counterparts. It’s important to note that EV ranges can change depending on external conditions.
What Affects EV Ranges?
In theory, EV ranges depend on battery capacity and motor efficiency, but real-world results can vary based on several factors:
- Weather: At temperatures below 20℉ (-6.7℃), EVs can lose around 12% of their range, rising to 41% if heating is turned on inside the vehicle.
- Operating Conditions: Thanks to regenerative braking, EVs may extend their maximum range during city driving.
- Speed: When driving at high speeds, EV motors spin faster at a less efficient rate. This may result in range loss.
On the contrary, when driven at optimal temperatures of about 70℉ (21.5℃), EVs can exceed their rated range, according to an analysis by Geotab.
The 10 Longest-Range Electric Cars in America
Here are the 10 longest-range electric cars available in the U.S. as of 2022, based on Environmental Protection Agency (EPA) range estimates:
|Car||Range On One Full Charge||Estimated Base Price|
|Lucid Air||520 miles (837 km)||$170,500|
|Tesla Model S||405 miles (652 km)||$106,190|
|Tesla Model 3||358 miles (576 km)||$59,440|
|Mercedes EQS||350 miles (563 km)||$103,360|
|Tesla Model X||348 miles (560 km)||$122,440|
|Tesla Model Y||330 miles (531 km)||$67,440|
|Hummer EV||329 miles (529 km)||$110,295|
|BMW iX||324 miles (521 km)||$84,195|
|Ford F-150 Lightning||320 miles (515 km)||$74,169|
|Rivian R1S||316 miles (509 km)||$70,000|
Source: Car and Driver
The top-spec Lucid Air offers the highest range of any EV with a price tag of $170,500, followed by the Tesla Model S. But the Tesla Model 3 offers the most bang for your buck if range and price are the only two factors in consideration.
Personal Finance7 days ago
Ranked: The Best Countries to Retire In
Demographics4 weeks ago
Ranked: Gen Z’s Favorite Brands, Compared with Older Generations
Technology3 weeks ago
The Shrinking Trillion Dollar Market Cap Club
Markets2 weeks ago
Visualized: FTX’s Leaked Balance Sheet
Technology1 week ago
Visualizing the World’s Top Social Media and Messaging Apps
Politics4 weeks ago
Visualized: The Biggest Donors of the 2022 U.S. Midterm Elections
Misc3 weeks ago
Visualizing the Evolution of Vision and the Eye
Money3 weeks ago
The U.S. and China Account for Half the World’s Household Wealth