The president of Toyota, Tesla’s number one market cap, responded

On November 6th Mr Toyodo, Toyota’s president, said on a earnings conference call that Tesla had a higher market capitalisation than the seven Japanese carmakers, including Toyota combined. However, its business is like a restaurant that is still selling recipes, while Toyota is more like a restaurant that already serves a large number of customers, producing and selling far more cars and types than Tesla.

‘I think if you’re going to use metaphors, it’s like a kitchen and a chef who hasn’t created a real business in the show world, they’re still selling recipes, and the chefs say our recipes are going to be the world standard of the future,’ Mr. Toyodo said.

Toyota has real kitchens and cooks, we make real food, some customers are very picky about what to eat, they’re already sitting in front of us and eating what we cook.

Toyota produces and sells far more cars than Tesla, which now has more than 100 million vehicles, he said. Toyota offers a “full menu lineup” that includes hybrid, battery-powered and other vehicles.

Toyota Motor Corporation (July-September 2020) results for the second quarter of fiscal 2021.

Toyota’s total sales revenue for the reporting period was 6.77 trillion yen ($431.1 billion), down 11.3 percent from a year earlier, the data showed. Net profit was 481.741 billion yen (about 30.8 billion yuan), down 12.8 percent from a year earlier.

Net profit attributable to the company was 470.525 billion yen (about 30.1 billion yuan), down 11.3 percent from a year earlier.

Toyota expects operating profit of 1.3 trillion yen (about 83 billion yuan) in fiscal 2021 (April 2020-March 2021), well above its previous estimate of 500 billion yen (32 billion yuan).

Toyota said the rebound was inextricable to good sales in china.

From January to September 2020, Toyota sold 1.2624 million vehicles in China, up 6.9% year-on-year, including 179,400 new cars sold in China in September, up 25.3% year-on-year and a record monthly sales volume.

From the model point of view, the Corolla, Rayling, RAV4 Rongrong, Camry and other models accumulated sales of more than 100,000 vehicles, the growth momentum is amazing.

The president of Toyota, Tesla's number one market cap, responded