GM, Ford join Hyundai, Kia, Genesis in sales gains

GM and Ford both gained sales in 2024, quite possibly at Stellantis’ expense. So far, Stellantis (FCA US) has not released U.S. sales figures.

GM sold 2.7 million vehicles, its highest number since 2019, resulting in an estimated market share of 16.5%; its inventory was quite low for an American company, at 54 days. Every marque posted gains, with an overall increase of 4% over 2023.

Much of the gain for automakers in general came in the fourth quarter, when GM posted a 21% increase. Electric vehicle sales rose by 50% in the fourth quarter, and by 125% for the year, pushing GM into the #2 spot for EV sales, with 114,432 sold. EV sales rose to over 15,000 per month in November and December even as Tesla’s rebates grew.

The company was also the #1 seller of full sized pickups again, with the highest sales since 2007; and the #1 seller of full-size SUVs for the 50th year. GM ended up the biggest seller in America, displacing Toyota, in overall, fleet (Q4 only), and retail sales. These increases came as GM dropped its incentives well below the industry average.

Ford hid its EV sales in “electrified vehicles,” which included hybrids and PHEVs, but claimed the #1 spot in hybrid trucks, with a 76% market share; Ford also claimed to the #2 electric vehicle brand, the difference being that GM split their EVs over several brands and Ford’s EVs are all Ford brand (which is also how GM sells the most full size pickups but Ford is the best selling brand). Ford claimed that its high sales were due to freedom; it had a full year sales gain of 4%, like GM, ending up at 2.1 million vehicles sold in the United States.