10 years ago, Tesla was just like a dwarf in the auto industry, but their seemingly crazy ambitions had the power to turn the entire auto industry around.
The heart of the American auto industry still lies in Michigan, especially in Detroit, where General Motors (GM) is headquartered, and in Dearborn, where Ford is headquartered.
Only making electric cars, Tesla is 5 times more profitable than Toyota, twice as profitable as GM and Ford combined - 1
Tesla is twice as profitable as GM and Ford combined if calculated per vehicle (Illustration: Carscoops).
GM recovered from bankruptcy protection in 2009 and once again dominated the US auto industry. Meanwhile, Ford, the only member of the "Big Three" American auto giants (Big Three) that did not fall into bankruptcy protection during the 2008 financial crisis, remained firmly in second place.
At the end of 2022, GM and Ford are still the two pillars of the US auto industry, with GM reaching revenue of 152.3 billion USD, and Ford reaching 133.6 billion USD.
Tesla also achieved positive business results last year, but the stock price continued to decline, the boss "made noise" on social networks, lawsuits related to the safety of cars and competitors starting to "sell out" has made many people suspect that Tesla's peak has passed.
However, if you look at the financial numbers and compare them with the giants of the American auto industry, you will see that Tesla is still operating very effectively. Regarding profits, according to The Street,
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