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US Automakers Report Best Annual Sales Since 2019
Both General Motors and Ford Motor Company reported their best annual US new vehicle sales since 2019, beating industry expectations. The results come despite ongoing supply chain problems and the impacts of the coronavirus pandemic.
General Motors remained the country’s top-selling automaker, followed by Toyota and then Ford. GM reported 2024 sales of over 2.7 million vehicles, a 4.3% increase from the previous year. The automaker sold 2.9 million units in 2019.
Ford reported 2024 sales of 2.08 million vehicles, a 4.3% increase from 2023. The company’s sales of electrified vehicles, including electric vehicles and hybrids, rose 38.3% year over year and represented 13.7% of its total annual sales.
Other major automakers, including Toyota, Hyundai, and Honda, also reported single-digit annual sales increases. Toyota reported a 3.7% uptick in sales for 2024, while Honda announced an 8.8% increase. Hyundai brand’s sales increased roughly 4% during 2024 to a record of over 836,800 vehicles.
The results are in line with industry expectations, with market research firms expecting US automakers to report total sales of nearly 16 million vehicles in 2024, marking the industry’s best year since 2019.