Recently, major automakers have successively released their 2021 annual financial reports, including 5 car companies such as Ford Motor, Tesla, General Motors, and GAC Group.
1. Ford Motor
Full-year total revenue: $136,341 million
According to Ford Motor's 2021 full-year financial report, Ford Motor's total revenue for the whole year in 2021 was $136.341 billion, an increase of 7.23% year-on-year; net income reached $17.9 billion, an increase of 1502% year-on-year, adjusted EBITDA was $10 billion, and revenue and net profit increased year-on-year. As of the fourth quarter of 2021, Ford had more than $36 billion in cash, $52 billion in liquidity, and $10.6 billion in investment income from Rivian.
Ford motor said that the Ford+ plan for 2021 is rapidly advancing globally, and sales will still grow steadily in 2021 despite the impact of continued supply chain disruptions.
Specifically, Ford Motor's global sales reached 1.906 million units in 2021, and in the Chinese market, Ford China's cumulative sales reached 625,000 units, an increase of 3.7% year-on-year. Among them, the Ford brand delivered a total of 238,000 vehicles, while its luxury brand Lincoln surpassed the US market for the first time in sales in China, with annual sales up nearly 50% year-on-year.
In terms of products, Changan Ford's product matrix is further enriched, of which Ford EVOS and Mustang Mach-E have begun to be delivered, Ford Lingrui has opened pre-sale, F-150 Raptor is about to be introduced to China, Lincoln Z is scheduled to be hot, a new generation of Mondeo is about to be listed, and a variety of blockbuster new cars will be launched, which will help Ford brand sales climb.
In the 2022 outlook, John Lawler, chief financial officer of Ford Motor Company, said that the company expects adjusted EBITDA to be between $11.5 billion and $12.5 billion in 2022, an increase of 15% to 25% year-on-year, and is expected to achieve the goal of improving adjusted EBIT margin to 8% a year ahead of schedule.
2. Tesla
Full-year total revenue: $53.7 billion
According to Tesla's 2021 full-year financial report, Tesla's total revenue for the full year of 2021 is about $53.7 billion, an increase of 71% year-on-year. Excluding $6.5 billion spent on new plant construction and other capital expenditures, Tesla generated a $5.5 billion GAAP net profit and $5 billion in free cash flow, a 665% year-over-year increase in net profit.
Specifically, Tesla's total production in 2021 reached 930422 vehicles, and the total delivery volume of the whole year reached 936172 vehicles, an increase of 87% year-on-year, of which the Model S and Model X were 24964 units, and the Model 3 and Model Y were 911208 units. It is worth mentioning that Tesla achieved a production efficiency of more than 1.22 million vehicles per year in the fourth quarter of 2021, setting a new record.
At present, Tesla is planning to increase production capacity as soon as possible, not only including the production supply of new factories such as Austin in the United States and Berlin in Germany, but also the capacity increase of existing factories such as Fremont in the United States and Shanghai in China. In addition to this, Tesla also claims that it expects an average annual growth rate of 50% in vehicle deliveries over the next few years.
3. General Motors
Full-year total revenue: $127 billion
According to the 2021 full-year financial report released by General Motors, GM's annual operating income in 2021 reached $127 billion, an increase of 3.7% year-on-year, and net profit reached $10 billion, an increase of 56% year-on-year. Adjusted EBITDA increased 47% year-over-year to $14.3 billion, adjusted EBIT MARGIN was 11.3% and adjusted automotive business cash flow was $2.6 billion.
Specifically, GM's cumulative sales in the Chinese market in 2021 will be about 2.9 million units, which is basically the same as last year's sales level. GM said that electrification will be the focus of GM's development direction next, and has launched a new Ultium (Oton) electric vehicle platform last year, as well as the platform's first electric vehicle Cadillac LYRIQ, believes that with strong financial strength, GM will quickly achieve transformation.
Looking ahead to 2022, GM expects full-year 2022 net profit to be in the range of $9.4 billion to $10.8 billion, with adjusted EBIT expected to be between $13 billion and $15 billion.
4. Great Wall Motors
Total revenue for the year: 136.317 billion yuan
According to the 2021 annual financial report released by Great Wall Motors, the total revenue of Great Wall Motors in 2021 reached 136.317 billion yuan, an increase of 31.95% year-on-year; the net profit was 6.781 billion yuan, an increase of 26.45% year-on-year. The net profit attributable to the shareholders of the company was 6.782 billion yuan, an increase of 26.47% year-on-year.
Specifically, in 2021, Great Wall Motor's cumulative sales reached 1.281 million units, an increase of 15.2% year-on-year, achieving annual sales of more than 1 million units for six consecutive years and setting a record high. Among them, the Haval brand sold 770,000 vehicles in the whole year; the Euler brand sold 135,000 vehicles in the whole year; the Wei brand sold 58,000 vehicles in the whole year; the tank brand delivered 85,000 units in the whole year; and the Great Wall pickup truck sold 233,000 units in 2021.
Looking back on 2021, Great Wall Motors launched more than 30 new products such as Haval Red Rabbit, Haval Divine Beast, Weipai Mocha, Weipai Macchiato DHT-PHEV, Weipai Latte DHT, Tank 300 City Edition, Tank 500, Euler Good Cat GT, etc., to further expand the product matrix. In 2022, Great Wall Motors plans to accelerate the launch of tanks, Wei brand brands and other models, and accelerate the overseas layout of subdivided products.
In addition to the above four car companies, GAC Group also announced its 2021 annual performance forecast, and the data shows that GAC Group expects to achieve a net profit attributable to shareholders of listed companies of about 6.6 billion yuan to 7.6 billion yuan in 2021, an increase of about 11% to 27% year-on-year. In 2021, the net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was about 5.6 billion yuan to 6.7 billion yuan, an increase of about 16% to 39% year-on-year.
Specifically, in 2021, GAC Group completed production and sales of 2.138 million units and 2.144 million units, an increase of 5.1% and 4.9% respectively year-on-year. At the same time, GAC Group said that in 2022, it will challenge the annual target of 15% year-on-year growth in automobile production and sales.
The above is the 2021 annual financial report of these 5 car companies, we will continue to pay attention to other information in the industry, please pay attention to it.