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All major manufacturers can maintain the trend of increasing revenues in the first half of 2023.

The consolidated results of the world’s major car manufacturers for the first half of 2023 (January-June) show that all companies increased their sales, with positive factors such as the resolution of inventory shortages, while the upward trend in product prices was maintained.

A comparison of sales in the first half of 2023 by manufacturer (excluding Japanese companies with a financial year ending in March) in US dollar terms shows that VW was the largest with USD 169.79 billion, up 19.4% year-on-year. It was followed by Stellantis (up 16.1% to $107.13 billion), Ford (up 15.8% to $86.43 billion), GM (up 18.1% to $84.73 billion), M-Benz (up 7.3% to $82.32 billion) and BMW (up 13.6% to $80.48 billion).

Operating profit and loss, which had deteriorated due to the Corona disaster, also showed an improving trend: all manufacturers were profitable in the first half of 2023, as in the first half of the previous year. Stellantis posted the largest operating profit, up 15.2% year-on-year to USD 15.38 billion, on an adjusted basis. The profit growth was driven by a high price strategy and real high price transactions against a backdrop of supply and demand balance, and higher profit margins per unit.

The same trend is expected to continue in the second half of 2023 (July-December) as in the first half, with more manufacturers expected to increase their revenues and profits for the full year. On the other hand, it will also be necessary to pay attention to whether the recent trend of rising product prices will ease as stock shortages are resolved.