Declining margins for the global automotive industry: Suzuki leads in profitability, Chinese groups advance

The global automotive sector is experiencing a decline in profitability in the first half of 2026. According to the analysis by the Center of Automotive Management on the 25 major manufacturers worldwide, the average EBIT margin has dropped to 3.5% (compared to 4.4% in the same period of 2025), with an overall operating profit decrease of 16.3% against a substantially stable turnover (-1%). Even the gross profit per vehicle delivered has undergone a reduction (-14.3%), standing at 1,027 euros (compared to 1,199 euros in the first six months of 2025). In a context of general decline, the profitability ranking is led by Suzuki, first with a margin exceeding 10%, followed by the Chinese Chery (7.8%) and the Hyundai-Kia group (6.5%). Toyota stands at around 4% (6.3%), ahead of the German premium brands (BMW 5.8% and Mercedes-Benz 5.4%), the American General Motors (4.8%) and BYD (4.3%), while Stellantis drops to 1.7%. The survey highlights how the major Chinese manufacturers are gaining competitiveness not only in terms of volumes, but also in terms of margins, while traditional groups confirm a revenue resilience despite facing pressure on operating profits. "The new analysis of financial results confirms the fundamental diagnosis of the previous study. The revenues of automotive manufacturers remain relatively stable, while operating profitability decreases to a greater extent. At the same time, it is becoming clear that some Chinese manufacturers are now competitive not only in terms of volume and growth, but also in terms of profitability," explains Stefan Bratzel, who heads the institute.