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

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


Attendees view the 2025 Ford Bronco Stroppe Special Edition during the AutoMobility LA 2024 auto show at the Los Angeles Convention Center on November 21, 2024.

Robyn Beck | Afp | Getty Images

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.

“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 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.

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.

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.

This is a developing story. Please check back for additional details.



Source

What wealthy parents need to know about giving real estate to their kids
Business

What wealthy parents need to know about giving real estate to their kids

A local house with a porch in Edgartown on Martha’s Vineyard, Massachusetts, USA. Wolfgang Kaehler | Lightrocket | Getty Images A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. The great wealth […]

Read More
The summer box office sizzled, but brace for a cooldown until November
Business

The summer box office sizzled, but brace for a cooldown until November

Movie stills from Disney’s “Lilo & Stitch” and “Fantastic Four” and Warner Bros. Discovery’s “Superman.” Courtesy: Disney | 20th Century Studios | Marvel Studios | Warner Bros. Discovery Superheroes, dinosaurs and a genetically altered alien dog helped propel the summer box office haul above 2024 levels, but that momentum is about to stall. Heading into […]

Read More
John Deere faces a crossroads amid decreasing demand, increasing investments
Business

John Deere faces a crossroads amid decreasing demand, increasing investments

Attendees view a John Deere 7R 270 row crop tractor at the Deere & Co. booth during the World Ag Expo at the International Agri-Center in Tulare, California on February 11, 2025. Patrick T. Fallon | AFP | Getty Images John Deere is facing a crossroads as the company continues to see weaker demand in […]

Read More