The U.S. auto industry saw a significant recovery in 2024, with sales reaching nearly 16 million vehicles. This marks the best year since 2019 when sales hit roughly 17 million units. General Motors (GM) and Ford Motor both reported their highest annual U.S. sales since 2019. GM sold over 2.7 million vehicles, a 4.3% increase from the previous year, while Ford sold 2.08 million vehicles, up from just under 2 million in 2023. Both companies saw substantial growth in electrified vehicle sales, with GM’s EV sales rising by 50% to over 114,400 units, and Ford’s electrified vehicle sales increasing by 38.3%. Despite these gains, EVs and hybrids still represented a small portion of total sales, with GM’s EVs accounting for 4.2% and Ford’s electrified vehicles making up 13.7% of their respective totals. Other automakers like Toyota, Hyundai, and Honda also reported single-digit sales increases, while Stellantis experienced a 15% decline, marking its worst year since 2010.
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