Automobile Sales, Including EVs and Hybrids, Surge in 2024
hubie writes:
EV Sales, Including Hybrids, Surge for Auto Giants Not Named Tesla:
General Motors and Ford Motor on Friday reported robust U.S. auto sales and electric-vehicle sales for the final quarter of 2024. GM more than doubled EV sales for the full year, while Tesla suffered a sales decline. GM stock edged higher on Friday, while Ford stock popped and Tesla jumped.
Toyota Motor posted declining U.S. new vehicle sales, but marked an EV sales milestone, including hybrid vehicles. Hyundai, which trades over the counter, and Honda Motor saw robust hybrid and EV sales, spearheading their overall sales growth.
GM, Ford report best annual U.S. sales since 2019 as auto recovery continues:
Mazda is Selling More Cars Than Ever-All Without an EV in SightSales of new vehicles in the U.S. continued to rise last year, rebounding from historical lows caused by the coronavirus pandemic and supply chain shortages during the past four years.
American legacy automakers General Motors and Ford Motor on Friday both reported their best annual U.S. new vehicle sales since 2019, led by growth of electrified vehicles such as all-electric and hybrid models.
Those results are in line with industrywide expectations for automakers. Market research firms expected U.S. automakers to report total sales of nearly 16 million vehicles in 2024, which would mark the industry's best year since selling roughly 17 million units in 2019.
[...] GM said sales were driven by increases in all four of its U.S. brands as well as a roughly 50% rise in sales of electric vehicles to more than 114,400 units.
Despite the notable jump in EV sales, the vehicles only made up 4.2% of the automaker's overall sales. GM estimated it achieved a 12% EV market share in the U.S. during the fourth quarter.
It was a similar trend at Ford, which reported a notable increase in sales of its "electrified" vehicles, including EVs and hybrids.
fliptop writes:
However, EVs are not the focus of some auto manufacturers.
Mazda is defying industry trends with surging sales of its gas-powered SUVs. Can it keep the momentum going without a fully electric vehicle in its lineup?
While many automakers are racing toward electrification, Mazda is proving that there's still room for gas-powered success. The Japanese automaker is set to break its U.S. sales record from 1986, with over 420,000 vehicles expected to be sold in 2024-a 16% increase from the previous year.
Mazda's president of North American operations, Tom Donnelly, credited the popularity of its compact crossovers and mid-size SUVs for this growth, with a target of 450,000 vehicles for 2025. "We're growing our business in what has largely been a stable industry," Donnelly said, talking about the consistent sales volume that Mazda has seen from its compacts and mid-size SUVs.
[...] What's driving Mazda's success? Mazda's lineup relies heavily on a few key models. The CX-5, a compact crossover manufactured in Japan, remains its best seller, despite being one of the oldest vehicles in its lineup. A redesign is expected within the next two years. The CX-30 subcompact hatchback and the Alabama-made CX-50 have also contributed significantly to the brand's recent surge.
[...] With overall US auto sales projected by Kelley Blue Book to rise just 2.3% in 2024, Mazda's performance is a standout. However, challenges remain. While Mazda charts new territory for its U.S. sales, it still lags behind competitors like Subaru, Kia and even Nissan, which has struggled with a host of its own problems in 2024.
Previously: Mazda: Americans Want Cheap Gas Cars
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