Amongst the three largest auto manufacturing groups based in Germany, Volkswagen Group produced the most revenue from worldwide operations in 2023 with over 322 billion euros generated.
Germany's dependence on the auto industry
German automotive manufacturing is one of the largest segments of the Germany’s economy. Revenue generated by German manufacturers is equivalent to about 15 percent of Germany's GDP. Add to that the contribution from auto suppliers, dealerships, and body shops.
Due to their national workforce in German businesses, and source of tax revenue for the German government, this means that there is a high dependency on the automotive sector. Over 774,300 people are employed in Germany's automobile industry.
Future auto risks
To maintain the level of employment from the motor industry, there are hopes companies will invest in developing employment in sensor technologies, mobility-as-a-service, and digital technologies. Nearly 1 in 2 manufacturing jobs are at high risk of being lost to automation by 2030.
Revenue comparison of Volkswagen, BMW and Mercedes-Benz in FY 2023
(in billion euros)
The values have been rounded. One euro is approximately equal to 1.105 U.S. dollars (as of December 28, 2023). This statistic has been created using the companies' respective annual reports. Mercedes-Benz Group's annual report is available on the company's website and was released March 19, 2024. Volkswagen Group's annual report is available on the company's website and was released on March 13, 2024.
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Mercedes-Benz, & Volkswagen, & BMW. (March 21, 2024). Revenue comparison of Volkswagen, BMW and Mercedes-Benz in FY 2023 (in billion euros) [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/274013/revenue-comparison-of-volkswagen-bmw-and-daimler/
Mercedes-Benz, und Volkswagen, und BMW. "Revenue comparison of Volkswagen, BMW and Mercedes-Benz in FY 2023 (in billion euros)." Chart. March 21, 2024. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/274013/revenue-comparison-of-volkswagen-bmw-and-daimler/
Mercedes-Benz, Volkswagen, BMW. (2024). Revenue comparison of Volkswagen, BMW and Mercedes-Benz in FY 2023 (in billion euros). Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/274013/revenue-comparison-of-volkswagen-bmw-and-daimler/
Mercedes-Benz, and Volkswagen, and BMW. "Revenue Comparison of Volkswagen, Bmw and Mercedes-benz in Fy 2023 (in Billion Euros)." Statista, Statista Inc., 21 Mar 2024, https://www-statista-com.ezproxy.canberra.edu.au/statistics/274013/revenue-comparison-of-volkswagen-bmw-and-daimler/
Mercedes-Benz & Volkswagen & BMW, Revenue comparison of Volkswagen, BMW and Mercedes-Benz in FY 2023 (in billion euros) Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/274013/revenue-comparison-of-volkswagen-bmw-and-daimler/ (last visited November 10, 2024)
Revenue comparison of Volkswagen, BMW and Mercedes-Benz in FY 2023 (in billion euros) [Graph], Mercedes-Benz, & Volkswagen, & BMW, March 21, 2024. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/274013/revenue-comparison-of-volkswagen-bmw-and-daimler/
