US Car Sales: GM and Ford's 2024 Comeback

In a surprising turn of events, both General Motors (GM) and Ford Motor have reported their best annual U. S. sales since 2019. This marks a significant recovery from the setbacks caused by the coronavirus pandemic and supply chain issues. Industry experts had predicted this comeback, estimating that U. S. automakers would sell nearly 16 million vehicles in 2024, a figure not seen since 2019 when around 17 million units were sold. GM's success can be attributed to their innovative vehicle designs and impressive performance across their brand portfolio. Rory Harvey, GM's president of global markets, expressed enthusiasm for the future, stating that the company is carrying significant momentum into 2025. GM's 2024 sales exceeded 2. 7 million vehicles, a 4. 3% increase from the previous year. In 2019, GM had sold approximately 2. 9 million units. The surge in sales was driven by increases in all four of GM's U. S. brands and a remarkable 50% increase in electric vehicle (EV) sales, totaling over 114, 400 units. Ford also experienced a notable boost in sales, particularly in their "electrified" vehicles, which include both EVs and hybrids. Ford's 2024 sales reached 2. 08 million vehicles, an improvement from just under 2 million in 2023 and closer to the 2. 42 million units sold in 2019. In the fourth quarter alone, Ford reported an 8. 8% year-over-year increase, selling 530, 660 vehicles. Traditional internal combustion engine vehicle sales increased by 0. 2% compared to 2023, while electrified vehicle sales saw a substantial 38. 3% increase. Electrified vehicles now account for 13. 7% of Ford's total annual sales. This rise in sales highlights a growing trend towards electric and hybrid vehicles, reflecting a shift in consumer preferences and the industry's commitment to sustainability. As the automotive landscape continues to evolve, it will be interesting to see how these trends impact future sales and market dynamics.