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Ford And GM Beat Tesla In Revenue Generated Per Worker

As most are well aware by now, all-electric vehicles are typically not profit generators – at least not yet. Due to high raw materials costs and a recent drop in demand, Ford recently decided to delay $12 billion in planned EV investments, in fact, a move it’s making as it focuses on making its second-generation EVs profitable – a process that’s expected to take around 12 months following their launch. However, Ford also has its revenue generating ICE-powered F-Series lineup to compensate for its Model e EV losses, which isn’t true of Tesla, a company that only builds and sells all-electric vehicles. As a result, both Ford and General Motors generated more revenue last year per worker than it did, according to Reuters.

Tesla Model 3 Refresh - Exterior 002 - Front Three Quarters

Last year, Tesla generated roughly $97 billion in revenue, which means that given the fact it employs around 140,000 employees, each of those workers accounted for $690,000 in revenue. By comparison, Ford employs 173,000 workers who accounted for $937,000 each, and GM’s 163,000 employees represented a little over $1 million individually.

However, it is worth noting that Tesla managed to improve this figure versus 2022, when each of its workers accounted for $637,000, and in 2023, the company beefed up its global workforce by 10 percent. Regardless, amid softening demand, the company has also lost around $180 billion in market capitalization thus far in 2024.

Meanwhile, Ford’s Model e business unit posted $1.6 billion in revenue in the fourth quarter of 2023, which is two percent higher than Q4 2022, but it also lost $1.57 billion in Earnings Before Interest and Tax (EBIT), a figure that’s $939 million higher than the same time frame a year ago. However, that difference was mostly compensated for by the automaker’s Ford Blue (ICE) and Ford Pro (commercial) divisions, which helped reduce the company’s net loss to $526 million on $46 billion in revenue.

We’ll have more data like this to share soon, so be sure and subscribe to Ford Authority for 24/7 Ford news coverage.

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

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