Key Takeaways
- Ford and GM reported more new vehicles sold in the U.S. in 2024 than any year since 2019.
- Both companies reported large electric vehicle sales gains in 2024.
- Ford shares fell 19% last year, while those of GM jumped 48%.
Ford Motor (F) and General Motors (GM) on Friday reported their best annual U.S. new vehicle sales figures since before the pandemic.
Ford sold 2.08 million vehicles in 2024, up 4% year-over-year and its highest number since 2.42 million in 2019. Fourth-quarter sales increased 9%.
GM sold 2.7 million vehicles last year, 4% more than in 2023 and its most since selling 2.89 million in 2019. Its fourth-quarter sales rose 21%.
Both companies reported gains in electric vehicles (EVs). Ford sold a total of 285,291 hybrid, plug-in hybrid and electric vehicles, up 38%, while GM’s EV sales jumped 50% to 114,432 vehicles.
Shares of Ford rose 2.6% intraday Friday, while those of GM gained 0.6%. Ford stock fell 19% in 2024, while GM’s jumped 48%.
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