Which Car Brand Earned £23m An Hour Last Year?

Mon 8th Nov 2021

The global pandemic may have severely cripped many sectors of the motor industry, however the sun still shone for some companies which made huge profits in the face of adversity.

New research from Uswitch has found which were the world’s highest-earning car brands of 2020. Despite a slump in sales, there were still an estimated 56 million vehicles sold globally and that meant that the biggest brands were still in the black.

Japanese brand Toyota were the top revenue earner, pulling in an annual revenue of £201bn according to Uswitch, an hourly revenue of £23m. Toyota have been challenged by Tesla more recently, but the American EV brand doesn’t feature in the top three, with Volkswagen and Daimler following close behind. Volkswagen’s annual revenue for 2020 was £186bn, with Daimler quite far behind, but still with a healthy annual revene of £129bn.

“Beating Volkswagen to the top spot is the Toyota Group, which primarily encompasses Toyota itself, and Lexus,” said Uswitch’s Florence Codjoe.

“They made an incredible £201bn in 2020 making them one of the biggest automobile companies in the world. 

“Popular right across the world, and renowned for their reliability and affordability, Toyota’s revenue breaks down to £23m each hour, over £380,000 a minute, and over £6,000 every single second!”

Toyota’s Japanese rivals Honda and Mitsubishi completed the top five of the highest earning car brands of 2020, and as for much-hyped Tesla? Well they were well off the pace with an annual revenue of just £23bn, behind Suzuki and just ahead of China’s Dongfeng Motor Group.