DETROIT — Both General Motors and Ford Motor on Friday reported their greatest annual U.S. new car gross sales since 2019, previous to impacts from the coronavirus pandemic and yearslong provide chain issues.
Those 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 greatest 12 months since promoting roughly 17 million items in 2019.
Several different automakers on Friday akin 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 items in 2019.
“The driving pressure for our enterprise is new automobiles with nice design and efficiency throughout our portfolio, serving to our sellers fulfill extra prospects. We’re carrying important momentum into 2025,” Rory Harvey, GM president of worldwide markets, stated in a launch.
GM stated gross sales have been pushed by will increase in all 4 of its U.S. manufacturers in addition to a roughly 50% enhance in gross sales of electrical automobiles to greater than 114,400 items.
Despite the notable enhance in EV gross sales, the automobiles solely made up 4.2% of the automaker’s total gross sales. GM estimated it achieved a 12% EV market share within the U.S. through the fourth quarter.
It was an identical pattern 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 just 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 stated full-year gross sales of its automobiles with conventional inner combustion engines elevated 0.2% in comparison with 2023, whereas gross sales of electrified automobiles elevated 38.3% 12 months over 12 months.
Electrified automobiles, together with hybrids and EVs, represented 13.7% of Ford’s complete annual gross sales.
Here are different reported 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 firm bought greater than 2.3 million automobiles final 12 months.
- Honda reported an 8.8% enhance in gross sales final 12 months to 1.4 million automobiles, together with a 9.9% enhance over the past month of the 12 months.
- Hyundai model’s gross sales elevated roughly 4% throughout 2024 to a brand new 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.
