Boosted by Givebacks — and Uncertainty About the New Year — Automakers Deliver Solid December Sales

The U.S. auto industry ended 2024 on a high note, manufacturers revealed Friday as they delivered uniformly solid sales numbers for December. That translated into the strongest full-year demand since the COVID pandemic struck in early 2020.

While a few manufacturers have yet to report, it appears that only two are likely to come in with lower sales compared to 2023: Stellantis and Tesla, the latter brand announcing Thursday that it suffered a 1.1% decline worldwide for the year. Tesla doesn’t break out numbers by regions, but it is believed to have come in with an even weaker performance in the States.

The question now is how the industry will perform in 2025 with a new president set to take office. Interest rates are on the decline but experts worry some of President-elect Donald Trump’s policies could add thousands to the cost of new vehicles at a time when many Americans have already been priced out of the market.

What’s clear is that many consumers — especially those looking for EVs — raced to take advantage of big factory and dealer discounts, as well as the tax credit on battery-electric vehicles that could vanish under Trump. General Motors, Honda, Subaru, Nissan, Hyundai and Genesis were among the many manufacturers report strong sales for December and all of 2024.

Strong year for GM

For the year, GM expanded overall sales by 4%, to 2.7 million vehicles, the company’s highest total since 2019, which made it the leader in sales. GM estimates its 2024 market share at 16.5%. It finished the year with an inventory of about 54 days, hitting the company’s target. All of GM’s brands — Chevrolet, GMC, Buick and Cadillac — posted strong sales gains.

For the fourth quarter, sales were up 21% from the year-earlier period. Electric vehicle sales jumped 50% for the quarter and 125% for the year, roughly doubling our market share over the course of the year. GM was the No. 2 seller of EVs in the U.S. across the second half of 2024.

GM was the leading seller of full-sized pickups for the fifth straight year — with the highest annual sales since 2007, though the Ford F-150 is expected to remain the top-selling vehicle for 2024. The big automaker also was the top seller of full-size sport-utility vehicles for the 50^th straight year.

EV sales give GM a boost

“It was a great year for us across our product lines,” said Rory Harvey, GM executive VP and president of global markets. “How did we do it? By investing to have the best portfolio in the industry. We have something for everyone, no matter what they like to drive.”

In EVs, sales accelerated throughout the year, with fourth-quarter sales of 42,000 units, up 10,000 from the third quarter level and nearly twice the second quarter total. Overall, the average transaction price reached nearly $53,000 in the fourth quarter, well above the industry average, while incentive spending per vehicle continues to decline.

All four of GM’s major brands grew in 2024. At Chevrolet, sales were up 1.5%, to the highest level since 2019. Equinox EV was a major driver, with fourth-quarter unit sales up 85% from the third quarter of 2024. For the full year, Trax sales were up 84%, to lead the small SUV segment. Fourth quarter sales at Chevrolet increased 17%.

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Ford’s best year since COVID

Ford Motor Co. reported an 8.8% increase in the fourth quarter and 4.2% increase for the full year as it sold more than 2 million vehicles last year as the automaker finished behind GM and Toyota in total sales. More than one-third of Ford’s sales were F-150 trucks, which totaled 764,649.

Ford’s EV sales increased by 16.3% in the fourth quarter and by 34.3% for the full year.

Honda has a big year

Honda also finished the year with a bang as sales of Honda brand vehicles surged 10.1% in December while Acura-brand sales rose 1.1%. For the full year, Honda sales were up 11.1%, while Acura sales fell 9.1% for an American Honda total of 1,423,857 vehicles.

“Our strong sales results in 2024, including record sales of light truck, hybrid-electric and battery-electric vehicles, is a direct reflection of our commitment to meeting customer demand today, even as we look to the electrified future,” said Lance Woelfer, vice president of Auto Sales at American Honda Motor Co. Inc.“We plan to carry this momentum into 2025 with all-new products helping drive sales increases while maintaining our balanced approach of offering cars and light trucks powered by both ICE and electrified powertrains.”

Toyota stumbles at the end

Toyota Motor North America reported fourth-quarter 2024 U.S. sales of 603,104 vehicles, a decrease of 2.7% on a volume basis and a decrease of 5.2%  on a DSR basis compared to the fourth quarter of 2023. December 2024 U.S. sales totaled 209,953 vehicles, a decrease of 7.1% on a volume basis compared to December 2023.

For the full year, Toyota U.S. sales of 2,332,623 vehicles, an increase of 3.7%  compared to 2023, which included the sales of more than one million electrified vehicles.

“Our multi-pathway powertrain approach continues to attract customers, meeting their lifestyles and budgets,” said Jack Hollis, executive vice president and chief operating officer, TMNA. “Our teams are working with suppliers and dealers to prepare for a busy 2025 as we introduce approximately 24 all-new, refreshed or special edition Toyota and Lexus vehicles, and start battery production at our new $13.9 billion North Carolina facility to meet future demands of our customers.”

Subaru continues to grow sales

Subaru of America Inc. reported its 29th consecutive month of increased sales with 61,871 vehicles sold in December 2024, a 7.1% increase compared with December 2023. Subaru ended calendar year 2024 with 667,725 vehicle sales, a 5.6% increase compared with calendar year 2023.

For calendar year 2024, Crosstrek was the top performer by volume, achieving its best year ever with 181,811 vehicle sales (+14%). Forester was the highest-selling carline in December and closed out the year with 175,521 vehicle sales (+15%), and Outback achieved 168,771 annual sales (+4%) in 2024. In its second full year of sales, the Solterra EV continued to grow with its best

December sales were the best ever, resulting in 12,447 vehicle sales (+40%).

Nissan sales go up in ’24

Nissan Group announced total U.S. fourth quarter 2024 sales of 222,484 units, an increase of 10.3% versus the prior year. The increase is due to strong sales of Nissan models across the lineup, including the all-new Kicks, Versa and Pathfinder. Nissan Group also announced total calendar year 2024 U.S. sales of 924,008 units, an increase of 2.8% compared to the prior year.

Sales of the Infiniti brand fell by 2.3% in the fourth quarter and by 10.8 % for the full year.

Hyundai, Genesis set year-end sales records

Hyundai Motor America reported record-breaking total December sales of 78,498 units, a 4% increase compared with December 2023. This was the highest December sales total in Hyundai history.

“This was an incredible record-breaking year for Hyundai, largely driven by the success of offering consumers a variety of product and powertrain options that fit their needs,” said Randy Parker, CEO of Hyundai Motor North America.

“With exciting new models like the Ioniq 9 and increased U.S. production ramping up at our new Hyundai Motor Group Metaplant America in Georgia, I’m confident this momentum will continue. I am deeply grateful to our dedicated team and retail partners for making it all possible, and I’m excited about what we will accomplish together in 2025 and beyond,” Parker added.

Genesis Motor America is reporting 8,159 total sales in December 2024, representing a 20% increase vs the prior year and an all-time best monthly achievement. And concludes a best-ever annual achievement of 75,003 total sales, representing an 8% increase compared with 2023.