Porsche Makes in Six Seconds What Some US Employees Make in One Week
Staveley Head’s Report
Two months ago, Staveley Head, a motor insurance provider based in the UK considered the financials of fourteen different car brands. Porsche was one of the brands considered. Staveley Head ranked Porsche as fourth based on its profit before tax deduction. Other companies included Mercedes-Benz, Hyundai, Ford, Aston Martin, Ferrari, Renault, Subaru, Toyota, Jaguar, Skoda, Bentley, SEAT and Volkswagen. Toyota was first on the list, Mercedes-Benz got the second spot and Ford was the third.
Breakdown Of Porsche’s Profits
Porsche was founded in the year 1948. The luxury automobile company in its yearly report made it known that it made about €4.22 billion as profits before tax deduction last year. Giving the exchange rate as at the 8th of November, that comes in at over $4.82 billion. Taking it further and dividing it into seconds, it implies that Porsche approximately made about $153 per second. For every minute, it made approximately over $9,176 and about $550,925 per hour. With a further breakdown, the company made over $13.2 million daily and almost $92.8 million each passing week.
For every 6 seconds, the company was making a profit of about $917 before tax deduction last year. That sum is higher than they average weekly earning in America for salary and wage employees in the 3rd quarter of this year. The average earning was at $887 per week as indicated by the Bureau of Labor Statistics.
For revenue, the company raked in about €23.49 billion last year. With the 8th of November rates, that was over $26.85 billion. Breaking that down brings it to a median sum of about $73.6 million per day. Car and Driver noted that the price of Porsche ranges between $49,000 at the very least and could be as high as $300,000.
Breakdown of Mercedes-Benz’ Profits
Staveley Head also considered the financial report of Mercedes-Benz. According to the insurance provider, this luxury car manufacturer that was founded in the year 1936 makes a median profit of $339 per second. On a broader outlook, it comes in at $20,310 per minute, $1,218,656 per hour and every day, it makes an average of $l29,247,743 daily.
It considered the previous financial reports and represented the growth of the car companies based on their profit before tax deduction, their revenue as well as their units sold. For Mercedes-Benz, it made use of the global annual profit data gotten from the company’s 2017 yearly report. It divided that based on time periods. For instance, it broke down the entire profit it made by 365 and that helped it to arrive at the daily average. It also adopted the same method for the units sold and revenue it made in 2017.
Based on that, the company made a profit of $1,017 in 3 seconds. That amount is higher than the average weekly earnings in America for salary employees in July 2018. Bureau of Labor Statistics showed that they made $876 per week. In 2 days, the car manufacturer records $58,495,488 as profit.
Purpose Of Profit Breakdown
According to Ashley Peters who is the managing director of Staveley Head, the insurance provider made the decision to carry out a breakdown of the actual figures highlighting the exact amount the leading car brands all over the world make per second, per minute, per hour and even per day so as to get the exact picture of the industry at the moment.
He added that when considering the latest performance of Mercedes-Benz putting into specific consideration its profits and sales all around the world versus its competitors, it is obvious that the company has earned a top spot on the market for luxury cars. Considering the revenue of the company, it made a median sum of $12,535,200 per hour and for daily revenue, it made $300,844,800 per day. Every minute, Mercedes-Benz sells 5 cars and each day, it sells 7,200 vehicles. Car and Driver showed that the Mercedes-Benz costs between $51,395 and $153,845.
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