2024 U.S. Sales Best Since 2019

US Auto Sales Rebound in 2024, Led by Growth of Electric and Hybrid Vehicles

DETROIT – Sales of new vehicles in the US continued to rise last year, rebounding from historical lows caused by the coronavirus pandemic and supply chain shortages during the past four years.

American legacy automakers General Motors and Ford on Friday both reported their best annual US new vehicle sales since 2019, led by growth of electrified vehicles such as all-electric and hybrid models.

Those results are in line with industrywide expectations for automakers. Market research firms expected US 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.

"We got to just under 16 million units, it looks like, for 2024, with strengthening in the last quarter," said Stephanie Brinley, associate director of AutoIntelligence at S&P Global Mobility. "Given some of the affordability and inflationary headwinds, it’s probably a decent year… It’s moving in the direction we need to move."

Sales Results

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.

Ford 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 US.

Conclusion

US auto sales continued to recover in 2024, driven by the growth of electric and hybrid vehicles. The industry is expected to continue its upward trend in 2025, but still fall short of 2019 volumes.

Frequently Asked Questions

Q: What drove the growth in US auto sales in 2024?
A: The growth was led by the increase in sales of electric and hybrid vehicles.

Q: Which automaker reported the best annual US new vehicle sales in 2024?
A: General Motors and Ford reported their best annual US new vehicle sales since 2019.

Q: What is the expected growth in US auto sales in 2025?
A: The industry is expected to continue its upward trend, but still fall short of 2019 volumes.