Key Points:
- GM and Ford achieved their highest annual U.S. vehicle sales since 2019.
- GM sold over 2.7 million vehicles in 2024, up 4.3% from 2023.
- Ford reported 2.08 million vehicles sold, marking significant growth from 2023’s figures.
The U.S. auto industry made a strong recovery in 2024, as sales continued to rise after years of challenges from the pandemic and supply chain disruptions. General Motors (GM) and Ford Motor Company emerged as top performers, reporting their best annual sales figures since 2019.
GM Leads the Market
GM sold more than 2.7 million vehicles in 2024, representing a 4.3% increase compared to the previous year. This growth was driven by all four of GM’s U.S. brands and a 50% surge in electric vehicle (EV) sales, totaling over 114,400 units. However, EVs accounted for only 4.2% of GM’s total sales. GM’s EV market share reached 12% during the fourth quarter of 2024.
Rory Harvey, GM’s President of Global Markets, noted, “New vehicles with exceptional design and performance are the driving force behind our success. We’re carrying strong momentum into 2025.”
Ford’s Electrified Growth
Ford also reported a robust 2.08 million vehicles sold, up from just under 2 million in 2023. Sales of its electrified vehicles, including hybrids and EVs, increased by 38.3%, making up 13.7% of total sales. The automaker’s fourth-quarter sales grew 8.8% year-over-year, reflecting rising consumer demand for greener vehicles.
Other Automaker Sales in 2024
- Toyota: Sales increased by 3.7% to over 2.3 million units despite a year-end dip in December.
- Honda: Annual sales grew 8.8% to 1.4 million vehicles, with a strong December performance.
- Hyundai: Achieved record U.S. sales of more than 836,800 vehicles, up 4% year-over-year.
- Kia: Set a record with 796,488 vehicles sold, up 1.8% from 2023.
- Stellantis: Experienced a 15% sales decline, selling approximately 1.3 million vehicles. Major brands like Dodge and Jeep saw significant drops in sales.
Industry Outlook for 2025
The auto industry is projected to grow further in 2025, with expected U.S. sales reaching 16.2 million vehicles, a continued recovery from the pandemic’s impact. Analysts remain optimistic about the sustained demand for electric and hybrid vehicles, which are reshaping the automotive market.
This performance underscores the industry’s focus on innovation, sustainability, and adapting to evolving consumer preferences.
