# @benzinga on Instagram

- **Type:** Image
- **Original URL:** https://www.instagram.com/p/Ck8WBw_KNJd
- **Gondola URL:** https://gondola.cc/posts/17862575-benzinga-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/legacy-do/c51b2775e4fcfd3f826bdd383224a7765c7d6455b6bd86a6de2d13c1d9862a4b.jpg
- **Posted:** 2022-11-14T13:22:34.000+00:00
- **Account Owner:** Benzinga | News That Moves (@benzinga) — https://gondola.cc/benzinga

## Caption

Toyota Motor Corp. is the world’s largest automaker in terms of the number of cars but pureplay electric vehicle maker Tesla Inc. is way ahead of the legacy automaker in terms of profit generated per vehicle sold.

What Happened: Tesla’s GAAP net income for the September quarter was $3.29 billion compared to the 434.26-billion-yen ($3.15 billion) profit Toyota made for the same period, an analysis by Nikkei showed. The JPY-USD conversion is based on the 138 yen per dollar value that prevailed at the time Toyota released its quarterly results. Follow benzinga

Tesla sold 343,830 cars in the third quarter compared to Toyota’s 2.62 million, with the Japanese automaker outselling Tesla by 7.62 times. However, the U.S. EV giant tops Toyota when profit per vehicle is taken into account.

Profit made per vehicle in the third quarter was at $9,569 for Tesla compared to $1,202 for Toyota. Tesla, thus, makes about eight times more profit on a car than Toyota. Tesla’s leadership in market capitalization reflects this competitive edge the company has over its rivals, Nikkei said.

As of Friday, Tesla’s market capitalization stood at $618.824 billion, a far cry from its peak valuation of $1.235 trillion seen in early November 2021. Still, the company leads the auto industry on this metric. Toyota is a distant second with a market cap of $196.087 billion. Find out more on benzinga.com, link in bio. benzinga
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## Tags

money, economy, trading, success, stockmarket, moneymoves, investor, stockstowatch, toyota, tesla, ev, investing, wallstreet, stocktrading, wealth, stockmarketinvesting, electricvehicle, investing101, business, profits, investors, entrepreneur, tradingstrategy, japan

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