Attendees view the 2025 Ford Bronco Strop Special Edition at the AutoMobility LA 2024 Auto Show at the Los Angeles Convention Center on November 21, 2024.
Robin Beck | AFP | Getty Images
Detroit – both general motors and ford motor on Friday reported the highest annual U.S. new car sales since 2019, before the coronavirus pandemic and long-standing supply chain issues hit.
These results are consistent with industry-wide expectations for automakers. The market research firm expects U.S. automakers to report total sales of about 16 million vehicles in 2024, which would be the industry’s best year since 2019, when it sold about 17 million vehicles.
Several other automakers also joined in on Friday. toyota motor vehicle, hyundai car and honda motor industry reported single-digit sales growth for the year, again broadly in line with industry expectations.
GM remains the country’s best-selling automaker, followed by Toyota and then Ford.
GM reported sales of more than 2.7 million units in 2024, an increase of 4.3% from the previous year. The company sold 2.9 million units in 2019.
“The driving force behind our business is new vehicles with great design and performance across our portfolio, helping our dealers satisfy more customers. We maintain our momentum,” Rory Harvey, GM’s president of global markets, said in a release.
GM said sales were boosted by increases in all four U.S. brands and electric vehicle sales, which rose about 50% to more than 114,400 units.
Despite the significant increase in EV sales, they accounted for only 4.2% of automakers’ overall sales. GM estimated it achieved 12% EV market share in the US in the fourth quarter.
Following a similar trend, Ford reported a significant increase in sales of “electric” vehicles, including EVs and hybrids.
Ford on Friday reported sales of 2.08 million vehicles in 2024, up from just under 2 million in 2023. In 2019, the automaker sold 2.42 million vehicles in the U.S. In the fourth quarter, Ford reported an 8.8% year-over-year increase in sales, reaching 530,660 vehicles.
The automaker announced that full-year sales of vehicles equipped with conventional internal combustion engines increased by 0.2% compared to 2023, and sales of electric vehicles increased by 38.3% compared to the previous year.
Electric vehicles, including hybrids and EVs, accounted for 13.7% of Ford’s total annual sales.
Here’s how other U.S. sales reported Friday compared to 2023 totals:
Toyota reported a 3.7% sales increase in 2024, despite a 7.1% decline in December. The company sold more than 2.3 million vehicles last year. Honda announced that sales last year increased by 8.8% to 1.4 million units. This includes a 9.9% increase in the last month of the year. Sales for the Hyundai brand increased by about 4% in 2024, with Hyundai’s sister company Kia Motors also reporting record U.S. sales of 796,488 vehicles. In 2024, it will increase by 1.8% from the all-time high recorded in 2023.
