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GM revenue in Q2 2021 was $34.2 billion ([1]). Tesla Q3 2021 revenue is $13.7 billion ([2]). Tesla is still smaller, but it's in the same order of magnitude wit

by krasin 5y ago

GM revenue in Q2 2021 was $34.2 billion ([1]). Tesla Q3 2021 revenue is $13.7 billion ([2]). Tesla is still smaller, but it's in the same order of magnitude with GM. 1. https://media.gm.com/media/us/en/gm/news.detail.html/content/Pages/news/emergency_news/2021/earnings/0804-earnings.html https://media.gm.com/media/us/en/gm/news.detail.html/content... 2. https://www.teslarati.com/tesla-tsla-q3-2021-earnings-results/ https://www.teslarati.com/tesla-tsla-q3-2021-earnings-result...

bjd2385 5y ago
Thanks for providing this context, good to know.
xadhominemx 5y ago
With no shortages, GM would be be shipping >2m vehicles / quarter, so it’s about 10x larger. But fair point - Tesla has grown a lot
- krasin 5y ago
  Before shortages, GM revenue in Q3 2019 was $35.5 billion. A bit more than $34.2 billion in Q2 2021, but very close. Edit. You're right. By the number of cars, there's still an order of magnitude gap (see my other comment). Thank you. 1. https://investor.gm.com/news-releases/news-release-details/gm-reports-income-23b-and-ebit-adj-30b https://investor.gm.com/news-releases/news-release-details/g...
fhd2 5y ago
I suppose parent's argument is in relation to number of units produced, not revenue. From a comment below, Toyota sold about 7-8 times as many cars as Tesla on the US market. _Almost_ an order of magnitude, I'd argue.
- beambot 5y ago
  The fact that Tesla has more revenue per car, higher profit margin per car, and less debt are all benefits -- they can more readily "buy" their way out of supply chain problems compared to others. Combined with more agility, you have a hell of a positive feedback loop. The goal isn't revenue per se. It's kinda like Apple taking 75% of smartphone market's profits despite selling fewer handsets that Samsung.
  - shiftpgdn 5y ago
    Not having to pay dealers $5000/unit for “advertising” also helps Tesla’s bottom line.
- krasin 5y ago
  That's a fair point. Let's compare: GM sold 7.72 million vehicles in 2019 ([1]), which was before shortages. Tesla will likely ship around 0.9 million of vehicles in 2021. So, yes, the point is correct. There's still an order of magnitude gap between GM and Tesla in regards to number of cars sold. Thank you. 1. https://www.statista.com/statistics/225326/amount-of-cars-sold-by-general-motors-worldwide/ https://www.statista.com/statistics/225326/amount-of-cars-so...
  - m_mueller 5y ago
    but still, given the size of Toyota and GM that’s remarkable volume. certainly firmly in the mass manufacturing territory. and then you look at their upcoming additional production capacity - this is still not their end game.
panick21 5y ago
Then compare it to BMW, Geely or other manufactures that are more comparable.

by krasin 5y ago

bjd2385 5y ago

Thanks for providing this context, good to know.

xadhominemx 5y ago

With no shortages, GM would be be shipping >2m vehicles / quarter, so it’s about 10x larger. But fair point - Tesla has grown a lot

krasin 5y ago
Before shortages, GM revenue in Q3 2019 was $35.5 billion. A bit more than $34.2 billion in Q2 2021, but very close. Edit. You're right. By the number of cars, there's still an order of magnitude gap (see my other comment). Thank you. 1. https://investor.gm.com/news-releases/news-release-details/gm-reports-income-23b-and-ebit-adj-30b https://investor.gm.com/news-releases/news-release-details/g...

fhd2 5y ago

I suppose parent's argument is in relation to number of units produced, not revenue. From a comment below, Toyota sold about 7-8 times as many cars as Tesla on the US market. _Almost_ an order of magnitude, I'd argue.

beambot 5y ago
The fact that Tesla has more revenue per car, higher profit margin per car, and less debt are all benefits -- they can more readily "buy" their way out of supply chain problems compared to others. Combined with more agility, you have a hell of a positive feedback loop. The goal isn't revenue per se. It's kinda like Apple taking 75% of smartphone market's profits despite selling fewer handsets that Samsung.
- shiftpgdn 5y ago
  Not having to pay dealers $5000/unit for “advertising” also helps Tesla’s bottom line.
krasin 5y ago
That's a fair point. Let's compare: GM sold 7.72 million vehicles in 2019 ([1]), which was before shortages. Tesla will likely ship around 0.9 million of vehicles in 2021. So, yes, the point is correct. There's still an order of magnitude gap between GM and Tesla in regards to number of cars sold. Thank you. 1. https://www.statista.com/statistics/225326/amount-of-cars-sold-by-general-motors-worldwide/ https://www.statista.com/statistics/225326/amount-of-cars-so...
- m_mueller 5y ago
  but still, given the size of Toyota and GM that’s remarkable volume. certainly firmly in the mass manufacturing territory. and then you look at their upcoming additional production capacity - this is still not their end game.

panick21 5y ago

Then compare it to BMW, Geely or other manufactures that are more comparable.