GM, Ford 2024 U.S. sales are best since 2019

DETROIT – Each General Motors and Ford Motor on Friday reported their finest annual U.S. new automobile gross sales since 2019, previous to impacts from the coronavirus pandemic and yearslong provide chain issues.

These outcomes are in step with industrywide expectations for automakers. Market analysis companies anticipated U.S. automakers to report total sales of nearly 16 million automobiles in 2024, which might mark the trade’s finest yr since promoting roughly 17 million models in 2019.

A number of different automakers on Friday comparable to Toyota Motor, Hyundai Motor and Honda Motor reported single-digit annual gross sales will increase, additionally largely in step with trade expectations.

GM remained the nation’s top-selling automaker, adopted by Toyota after which Ford.

GM reported 2024 gross sales of greater than 2.7 million automobiles, up 4.3% from a year earlier. The automaker bought 2.9 million models in 2019.

“The driving drive for our enterprise is new automobiles with nice design and efficiency throughout our portfolio, serving to our sellers fulfill extra clients. We’re carrying vital momentum into 2025,” Rory Harvey, GM president of worldwide markets, mentioned in a launch.

GM mentioned gross sales have been pushed by will increase in all 4 of its U.S. manufacturers in addition to a roughly 50% rise in gross sales of electrical automobiles to greater than 114,400 models.

Regardless of the notable leap in EV gross sales, the automobiles solely made up 4.2% of the automaker’s general gross sales. GM estimated it achieved a 12% EV market share within the U.S. throughout the fourth quarter.

It was the same development at Ford, which reported a notable enhance in gross sales of its “electrified” automobiles, together with EVs and hybrids.

Ford on Friday reported 2024 gross sales of two.08 million automobiles, up from slightly below 2 million in 2023. In 2019, the automaker bought 2.42 million automobiles within the U.S. For the fourth quarter, Ford reported an 8.8% year-over-year enhance in gross sales to 530,660 automobiles bought.

That automaker mentioned full-year gross sales of its automobiles with conventional inner combustion engines elevated 0.2% in contrast with 2023, whereas gross sales of electrified automobiles rose 38.3% yr over yr.

Electrified automobiles, together with hybrids and EVs, represented 13.7% of Ford’s whole annual gross sales.

Listed here are different U.S. gross sales reported Friday in contrast with 2023 totals:

• Toyota reported a 3.7% uptick in gross sales for 2024, regardless of a 7.1% decline in December. The corporate bought greater than 2.3 million automobiles final yr.
• Honda introduced an 8.8% enhance in gross sales final yr to 1.4 million automobiles, together with a 9.9% rise over the last month of the yr.
• Hyundai model’s gross sales elevated roughly 4% throughout 2024 to a file of greater than 836,800 automobiles.
• Kia, a sibling firm to Hyundai, additionally reported file U.S. gross sales of 796,488 automobiles in 2024, up 1.8% from its prior file set in 2023.