Global Auto Giants See Profits Per Vehicle Plunge in 2025; Tesla Still Leads Despite 40% Drop

In 2025, the per-vehicle profit of all seven major global automakers declined compared to 2024. Tesla ranked first with a per-vehicle profit of approximately RMB 14,600, maintaining its top position for the fifth consecutive year, though this represented a roughly 40% year-over-year decline. Toyota narrowed the profit gap with Tesla, securing second place, while BYD came in third. The profitability per vehicle weakened across all seven automakers—including Tesla—due to higher U.S. tariffs and slowing global demand for battery electric vehicles.