General Motors (GM) and Ford Motor Company celebrated their strongest annual U.S. vehicle sales since 2019, overcoming pandemic disruptions and supply chain challenges. Both automakers reported significant growth in 2024, fueled by rising demand for electric and hybrid vehicles.
A Record Year for GM and Ford
Both automakers showed remarkable recovery in 2024. GM reported over 2.7 million vehicles sold, a 4.3% increase from the previous year. Ford also posted a strong year with 2.08 million vehicles sold, up from just under 2 million in 2023.
“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,” said Rory Harvey, GM president of global markets.
Electric Vehicles Lead the Charge
Electric and hybrid vehicles played a pivotal role in the sales growth. GM’s EV sales surged nearly 50%, reaching over 114,400 units. Ford saw an even larger boost in electrified vehicle sales, which rose 38.3% year-over-year, making up 13.7% of its total sales.
Ford reported a slight increase of 0.2% for traditional internal combustion engines, showing that traditional vehicles still have strong appeal.
Fourth-Quarter Momentum
The fourth quarter of 2024 was a key contributor to Ford’s overall success, with an 8.8% increase in sales compared to the same period in 2023. This marked a robust end to a year that saw the company reclaim its footing in the market.
Looking Ahead to 2025
With nearly 16 million vehicles sold industrywide in 2024, automakers are optimistic about 2025. GM and Ford are leveraging their momentum to strengthen their portfolios, particularly in the electric and hybrid sectors.
GM and Ford’s 2024 achievements highlight the auto industry’s resilience and innovation, especially in the EV space. As Rory Harvey noted, the focus on design and performance drives growth. Both companies are well-positioned for further success in 2025.
