General Motors had a strong 2024, growing U.S. sales and market share with a redesigned portfolio of both electric and gas-powered vehicles.
For the year, GM expanded overall sales by 4%, to 2.7 million vehicles, our highest total since 2019. GM estimates its 2024 market share at 16.5. We finished the year with inventory of about 54 days, meeting our target. All of our 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 #2 seller of EVs in the U.S. across the second half of 2024. We were the leading seller of full-sized pickups for the fifth straight year – with the highest annual sales since 2007. And we were the top seller of full-size sport utility vehicles for an astonishing 50th straight year.
“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 Q4 sales of 42,000 units, up 10,000 from the third quarter level, and nearly twice the second quarter total.
Overall, our average Q4 transaction price reached nearly $53,000, well above the industry average, while incentive spending per vehicle continues to decline.
All four of our 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 Q4 unit sales up 85% from Q3. For the full year, Trax sales were up 84%, to lead the small SUV segment. Fourth quarter sales at Chevrolet increased 17%.
Cadillac had its best full-year and quarterly sales since 2016, spurred by strong demand for both Escalade – the #1 large luxury SUV for the 11th consecutive year – and LYRIQ, now the best-selling electric mid-size luxury SUV. Meanwhile, deliveries of two new electric SUVs – the three-row VISTIQ and the smaller OPTIQ – begin in Q1. For the quarter, sales were up 35%.
Meanwhile, GMC had its best year ever in 2024, with total sales up 9%, aided by a 33% spike in Q4 sales. Sierra and Canyon both had their best years in history. It was a record year for the Denali sub-brand, which is celebrating its 25th anniversary. And Buick sales improved 10%, to the highest total since 2021. The Envista saw sales jump 57% in the fourth quarter.
SOURCE: GM
