General Motors reported a significant 16.7% increase in U.S. vehicle sales for the first quarter compared to 2024. This growth was driven by strong sales of new all-electric vehicles and full-size SUVs. Hyundai and Kia also saw robust sales increases of about 10% and 11%, respectively. Nissan, Honda, and Toyota experienced more modest gains, with increases of 5.7%, 5.3%, and roughly 1% respectively. In contrast, Stellantis and Ford faced declines, with sales down 12% and 1.3% respectively. Ford’s retail sales, however, rose by 5% year-over-year, boosted by a 19% increase in March. The automotive industry is preparing for new tariffs, including a 25% levy on imported vehicles starting this Thursday. These tariffs are expected to generate over $100 billion in annual revenue for the U.S. The average new vehicle price is currently around $48,000. S&P Global Mobility predicts that U.S. light-vehicle sales could drop to between 14.5 and 15 million units annually if the tariffs persist, compared to 16 million in 2024.
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