Chief Executives of large automotive manufacturers have pretty stressful jobs. These motoring bosses have to manage thousands of employees spread across many countries and oversee scores of vehicle development programs. However, they are also compensated handsomely for their efforts.
As reported by Japanese motoring publication Best Car Web citing Toyota’s recent financial reporting, the Toyota boss Akio Toyoda takes home 685 million yen ($5.1 million USD) per year, which looks relatively modest when the company made total sales of $233.8 billion USD in the year up to March 2022.
Akio is the great-grandson of the Japanese industrialist, Sakichi Toyoda, and the grandson of the founder of Toyota Motors, Kiichiro Toyoda. Many know Toyota as a passenger car manufacturer, but the company does far more than just make passenger vehicles. Toyota has many different investments beyond motoring as it operates in segments such as robotics, commercial vehicles, forklifts, and steel manufacturing. Toyota also holds stakes in other companies including Subaru, Mazda, Suzuki, Hino, Panasonic, Yamaha, and the Nagoya broadcasting/TV network.
Related: Toyota CEO Akio Toyoda is Dissatisfied with Japan’s Push Towards EVs
So Akio’s responsibilities are spanned across a lot more areas than one can imagine, however, compared to other auto executives, he is taking a relatively modest amount. For example, German auto giant Volkswagen is similar to Toyota in its size and scale of production, as well as with revenue, with the corporation bringing in $259 million USD during 2021.
Like Toyota, Volkswagen Group controls several manufacturers including Audi, Porsche, Skoda, Cupra, SEAT, Scania, Bugatti, and Lamborghini, as well as making its own cars under the Volkswagen brand name. VW Group’s recently dismissed boss Herbert Diess earned an estimated $10.9 million USD. But with a salary that handsome, comes a busy and very stressful job that is to manage and oversee 600,000 employees, 10 brands, and 120 factories around the world.
The CEO of General Motors, Mary Barra makes $21.63 million USD per year as total compensation, making her the highest-paid CEO for an automaker.
Calros Tavares, the CEO of Stellantis Group also takes home a very handsome paycheck. The 2021 compensation package of Tavares is about 19 million euros ($20.5 million USD), plus a stock package worth some additional 32 million euros and long-term compensation of about 25 million euros.
Jim Hackett who was Ford’s chief executive officer from May 2017 to October 2020 did well too, receiving a total salary package of $17.4 million USD every year. The ex-Nissan chief Carlos Ghosn made $24 million USD back in 2018 before he was arrested for alleged financial misconduct.
A computer animation professional with over 23 years of industry experience having served in leading organizations, TV channels & production facilities in Pakistan. An avid car enthusiast and petrolhead with an affection to deliver quality content to help shape opinions. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com