Press Release

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Global car industry on the rise as it smashes earnings predictions by 7%

21, March, 2023, LONDON –

New research from the personal finance comparison site,, has found that the 50 biggest publicly traded car companies in the world have beaten the estimates of their earnings per share (EPS) by a significant 7%.

EPS indicates a company’s profitability by showing how much money a business makes for each share of its stock. Lots of stock analysts will predict what they think an EPS for each publicly traded business should be, before the company announces it during their earnings call.

The car company that beat predictions by the highest amount was the Indian automaker, Tata Motors. It smashed its earnings per share predictions by a huge 417% (7.71 rupees per share vs an estimate of 1.49 rupees). Their revenue was also above expectations; 884.89B rupees vs a prediction of 834.18B rupees.

Aston Martin beat its expectations by 79%, making it the third most successful manufacturer in this regard, however it was still reporting negative earnings per share (-£0.03 vs a prediction of -£0.14 per share).

The Turkish manufacturer, Tofas Turk Otomobil Fabrikasi, was the third most successful this earnings season. It beat its estimates by an impressive 75% (6.99 lira per share vs a prediction of 4 lira).

The Japanese manufacturer, Mitsubishi, was the next most successful. It reported earnings per share of 32 yen vs an estimate of 19 yen, meaning it beat predictions by 69%.

Last week, BMW released their earnings, although they fell 11% short of their EPS estimates (€3.43 against a prediction of €3.87).

Tesla, the world’s largest manufacturer by market cap, beat its estimates by a relatively modest 3% ($1.19 vs a prediction of $1.15).

Speaking about the performance of auto companies this earnings season, Danny Butler, investing expert at the personal finance comparison site,, said:

“The fact that auto manufacturers have managed to collectively beat their earnings per share estimates in such a challenging time is testament to their resilience. Spiralling petrol prices around the world, inflation and economic uncertainty has presented unique challenges to the global car industry but this data provides hope that the sector can continue to grow – led by the continued investment in electric vehicles by challengers like Tesla and the incumbents. “


Finder analysed EPS results from 2023 via


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The information in this release is accurate as of the date published, but rates, fees and other product features may have changed. Please see updated product information on's review pages for the current correct values.

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