-5.5 C
New York
Tuesday, January 7, 2025
pCloud Premium

Ford and GM report best annual U.S. sales since 2019



250103 Ford Dealership Calif aa 1244 727c9d

DETROIT — Both General Motors and Ford Motor on Friday reported their best annual U.S. new vehicle sales since 2019, prior to impacts from the coronavirus pandemic and yearslong supply chain problems.

Those results are in line with industrywide expectations for automakers. Market research firms expected U.S. automakers to report total sales of nearly 16 million vehicles in 2024, which would mark the industry’s best year since selling roughly 17 million units in 2019.

Several other automakers on Friday such as Toyota MotorHyundai Motor and Honda Motor reported single-digit annual sales increases, also largely in line with industry expectations.

GM remained the country’s top-selling automaker, followed by Toyota and then Ford.

GM reported 2024 sales of more than 2.7 million vehicles, up 4.3% from a year earlier. The automaker sold 2.9 million units in 2019.

“The driving force for our business is new vehicles with great design and performance across our portfolio, helping our dealers satisfy more customers. We’re carrying significant momentum into 2025,” Rory Harvey, GM president of global markets, said in a release.

GM said sales were driven by increases in all four of its U.S. brands as well as a roughly 50% increase in sales of electric vehicles to more than 114,400 units.

Despite the notable increase in EV sales, the vehicles only made up 4.2% of the automaker’s overall sales. GM estimated it achieved a 12% EV market share in the U.S. during the fourth quarter.

It was a similar trend at Ford, which reported a notable increase in sales of its “electrified” vehicles, including EVs and hybrids.

Ford on Friday reported 2024 sales of 2.08 million vehicles, up from just under 2 million in 2023. In 2019, the automaker sold 2.42 million vehicles in the U.S. For the fourth quarter, Ford reported an 8.8% year-over-year increase in sales to 530,660 vehicles sold.

That automaker said full-year sales of its vehicles with traditional internal combustion engines increased 0.2% compared to 2023, while sales of electrified vehicles increased 38.3% year over year.

Electrified vehicles, including hybrids and EVs, represented 13.7% of Ford’s total annual sales.

Here are other reported U.S. sales reported Friday compared with 2023 totals:

  • Toyota reported a 3.7% uptick in sales for 2024, despite a 7.1% decline in December. The company sold more than 2.3 million vehicles last year.
  • Honda reported an 8.8% increase in sales last year to 1.4 million vehicles, including a 9.9% increase during the last month of the year.
  • Hyundai brand’s sales increased roughly 4% during 2024 to a new record of more than 836,800 vehicles.
  • Kia, a sibling company to Hyundai, also reported record U.S. sales of 796,488 vehicles in 2024, up 1.8% from its prior record set in 2023.



Source link

Odisha Expo
Odisha Expohttps://www.odishaexpo.com
Odisha Expo is one of the Largest News Aggregator of Odisha, Stay Updated about the latest news with Odisha Expo from around the world. Stay hooked for more updates.

Related Articles

Stay Connected

0FansLike
0FollowersFollow
0SubscribersSubscribe
Best Lifetime Deals on SaaSspot_img

Latest Articles

Australia set sights on world domination after taming India – Sport

0
SYDNEY: Cricket’s World Test Championship final is still five months away but it is already playing on the mind of Australia skipper Pat...

Trudeau announces he will resign as Canada’s prime minister

0
IE 11 is not supported. For an optimal experience visit our site on another browser.New study raises more questions about fluoride in drinking...

‌SA vs PAK | Twitter reacts to fiery Rabada punches air in anger after...

0
Test cricket is often known as the pinnacle of the sport as it challenges an individual’s skills and character. With the Newlands pitch...

Donald Trump Jr. to visit Greenland as president-elect ramps up calls for acquiring the...

0
Donald Trump on Monday confirmed that his eldest son will visit Greenland amid increased calls by the president-elect that the U.S. should control...

Wolves 'tried everything' against Nottingham Forest – Pereira

0
Vítor Pereira says he is "proud" of his Wolves side because they "tried everything" against Nottingham Forest in their 3-0 home defeat at...