General Motors and Ford Motor each reported strong increases in U.S. vehicle sales in the final three months of 2024 amid rising expectations for continued growth in the new year, reported the New York Times.
“GM said its fourth-quarter sales rose 21% from the period a year earlier, to more than 755,000 cars and light trucks. The company’s sales of electric vehicles more than doubled to 43,982 vehicles. Ford sold more than 530,000 vehicles in the quarter, a gain of nearly 9%. That included 30,176 electric vehicles, an increase of 16%,” wrote the NYT.
For the full year, GM sold 2.7 million cars and trucks, and Ford nearly 2.1 million vehicles, with each company seeing a rise of just over 4%.
Cox Automotive, a market researcher, estimated that the industry sold 15.85 million cars and light trucks in the United States in 2024, which would be a 2% increase from 2023.
GM’s and Ford Motor’s rising EV sales comes at a time when Tesla reported its first annual drop in electric vehicle deliveries in more than a decade.
“The company delivered about 1.79 million vehicles in 2024, a slight decrease from 1.81 million in 2023. Although Tesla delivered a record 496,000 vehicles in the fourth quarter, that was less than many Wall Street analysts’ expectations of more than 500,000,” wrote the Washington Post last week.
The year-over-year global sales drop is Tesla’s first since 2011, according to analytics firm Global Data.
Last month, GM and ChargePoint announced plans to “further accelerate EV infrastructure growth in the U.S.,” according to an email statement. The companies said they are joining efforts to install hundreds of ultra-fast charging ports at strategic locations, featuring the “latest innovations in EV charging to improve access to chargers and help drivers get back on the road faster than ever.”
ChargePoint and GM intend for the locations to be open and available to the public before the end of 2025.