GM, Ford report best annual US sales since 2019

Detroit – Both General Motors And Ford Motor On Friday, it reported its best annual U.S. new vehicle sales since 2019, before the effects of the coronavirus pandemic and years of supply chain problems.

These results are in line with industry expectations for automakers. Market research firms expected U.S. automakers to report. Total sales of about 16 million vehicles in 2024, which will be the industry’s best year since 2019 with sales of around 17 million units.

On Friday, several other automakers viz Toyota Motor, Hyundai Motor And Honda Motor Report single-digit annual sales growth, also largely in line with industry expectations.

GM remains the nation’s best-selling automaker, followed by Toyota and then Ford.

GM reported sales of more than 2.7 million vehicles in 2024, up 4.3 percent. A year ago. The carmaker sold 2.9 million units in 2019.

Rory Harvey, GM president of global markets, said in a release, “Our business is driven by new vehicles with the best design and performance in our portfolio, helping our dealers satisfy even more customers.” do

GM said sales were driven by growth across all four of its U.S. brands, as well as a nearly 50 percent increase in electric vehicle sales to more than 114,400 units.

Despite a significant jump in EV sales, the vehicles only account for 4.2 percent of the automaker’s overall sales. GM estimated it gained 12 percent of the EV market share in the U.S. during the fourth quarter.

It was a similar trend at Ford, which reported a significant increase in sales of its “electrified” vehicles, including EVs and hybrids.

Ford Reported on Friday Sales of 2.08 million vehicles in 2024, down from just under 2 million in 2023. In 2019, the automaker sold 2.42 million vehicles in the fourth quarter in the U.S., with Ford selling 530,660 vehicles, up 8.8 percent year-over-year. .

The automaker said full-year sales of its vehicles with conventional internal combustion engines rose 0.2 percent from 2023, while sales of electric vehicles rose 38.3 percent year-over-year.

Electric vehicles, including hybrids and EVs, account for 13.7 percent of Ford’s total annual sales.

Here are other U.S. sales reported Friday compared to 2023 totals:

• Toyota reported a 3.7 percent increase in sales for 2024, despite a 7.1 percent decline in December. The company sold over 2.3 million vehicles last year.
• Honda reported an 8.8 percent increase in sales of 1.4 million vehicles last year, including a 9.9 percent increase during the final month of the year.
• Sales of the Hyundai brand are expected to increase by nearly 4% to over 836,800 vehicles during 2024.
• Kia, a sister company to Hyundai, also reported record U.S. sales of 796,488 vehicles in 2024, up 1.8 percent from its previous record in 2023.