Ford Motor and General Motors have announced their best annual U.S. new vehicle sales since before the COVID-19 pandemic. Ford managed to sell 2.08 million vehicles in 2024, marking a 4% rise year-over-year and reflecting the highest sales figures since 2019 when 2.42 million vehicles were sold. The company also saw a 9% increase in its fourth-quarter sales.
General Motors, on the other hand, sold 2.7 million vehicles last year, which was 4% higher than in 2023, and the highest since 2019 when 2.89 million vehicles were sold. GM's fourth-quarter sales remarkably increased by 21%.
Both Ford and General Motors recorded significant gains in their electric vehicles (EVs) segment. Ford reported selling 285,291 hybrid, plug-in hybrid, and electric vehicles, experiencing a 38% hike, whereas GM reported a 50% jump in EV sales, aggregating to 114,432 vehicles. In terms of share performance, Ford shares climbed by 2.6% intraday on Friday, while GM's advanced by 0.6%. Despite this, Ford's stock dropped by 19% in 2024, whereas GM's surged by 48%.