“GM and Ford Achieve Best U.S. Sales Since 2019 as Electrified Vehicles Lead Recovery”
General Motors (GM) and Ford Motor Company have reported their highest annual U.S. vehicle sales since 2019, reflecting the continued recovery of the automotive industry. Both companies have benefitted from a rise in electrified vehicles, including electric cars (EVs) and hybrids.
2024 Sales Growth
- General Motors (GM) recorded 2.7 million vehicles sold in the U.S., marking a 4.3% increase from the previous year. GM’s sales were driven by a growth in all four of its U.S. brands, with electric vehicle sales surging by 50%, totaling over 114,400 EVs.
- Ford Motor sold 2.08 million vehicles, an increase from just under 2 million in 2023. Ford’s electrified vehicle sales rose by 38.3%, making up 13.7% of their total annual sales.
Industry-Wide Trends
The U.S. automotive market in 2024 saw a continued rebound from pandemic lows and supply chain disruptions. Industry analysts expect total U.S. vehicle sales to reach nearly 16 million units in 2024, marking the industry’s best performance since 2019.
- GM maintained its position as the top-selling U.S. automaker, followed by Toyota and Ford.
- Stellantis saw a significant decline of 15% in sales, marking the lowest sales for the company since its formation in 2010.
Electrified Vehicles Driving Growth
The shift towards green energy is evident, as both GM and Ford experienced substantial growth in electric vehicles (EVs) and hybrid models. GM’s EV market share reached 12% in Q4 2024, while Ford’s electrified vehicles represented 13.7% of their total sales.
Despite the challenges of affordability and inflation, the rise in electrified vehicles is a positive sign for the industry’s long-term recovery. Ford and GM are expected to continue leading the push for cleaner, greener automotive innovations in the coming years.
Other Key Automaker Performance
- Toyota reported a 3.7% increase in sales, with a December decline of 7.1%.
- Honda saw an 8.8% increase, selling 1.4 million vehicles in 2024.
- Hyundai and Kia achieved record sales, with Hyundai’s sales rising 4% and Kia’s up by 1.8% to 796,488 vehicles.
Outlook for 2025
Sales are expected to continue growing in 2025, though still falling short of 2019 levels, with estimates of around 16.2 million vehicles sold. However, the recovery in the U.S. automotive industry signals stronger growth ahead.
Key Takeaways:
- GM and Ford report their best sales since 2019.
- Electric vehicles (EVs) and hybrids are key drivers of growth.
- The U.S. automotive market is recovering, with 2024 sales approaching 16 million units.
- Toyota, Honda, and Hyundai also see positive sales increases.
- 2025 is expected to show continued sales growth.
