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2018 VW made a profit of about 17.7 billion Euro while Tesla lost ~1 billion dollars. Comparing debt alone is a very stupid metric.
by foepys 7y ago
2018 VW made a profit of about 17.7 billion Euro while Tesla lost ~1 billion dollars. Comparing debt alone is a very stupid metric.
- bryanlarsen 7y agoAnd if sales halved? 2008 took out 2 of the big 3; which companies would a similar recession in 2020 take out? Tesla would be vulnerable, but far from alone.
- zaroth 7y agoThat’s non-GAAP. Google says VW 2018 profit was actually. €13.92 billion, on revenue of €235 billion. Most of that difference was due to €3 billion in fines for lying about the level of toxic emissions of their Diesel engines. Apparently they feel like that shouldn’t fully count against them in their annual report. [1] Maybe a company which has demonstrated it is willing to commit fraud to coverup its level of pollution shouldn’t be able to call the fines “one-time” charges, since the likelihood of recidivism is high. VW shipped 10.8 million vehicles to Tesla’s 245k. So to be sure, Tesla is currently about 2% the size of VW. [1] - https://annualreport2018.volkswagenag.com/ https://annualreport2018.volkswagenag.com/