Total compensation means $700K, some of it being cash, some of it being stock. Company cars are pretty rare in the US, since basically everyone has a car already.
Company cars are really common in some industries, very rare in others. Ive never heard of it in tech, but I know people in sales that its just part of the gig.
I've not owned a car in 7 years thanks to my engineering gig coming with a work truck for getting around construction sites. Quite enjoy that aspect of it.
