Car manufacturers round off 2024 with a strong performance

In 2024, the automotive industry experienced a significant surge in U.S. sales, particularly in battery electric vehicles (EVs). This growth was evident across various automakers, including Toyota, Nissan, General Motors (GM), Ford, BMW, Tesla, Stellantis, Volkswagen, and Mercedes-Benz.

Toyota's Q4 sales fell 2.7% year-over-year (YoY) with 603,104 units sold. However, Toyota Motor North America reported sales of just over 2.3 million vehicles in 2024, a year-over-year improvement of 3.7%. Interestingly, Toyota's EV sales accounted for just over 1 million units sold for the year, up 53.1% from a year ago and represented 43.1% of its total annual sales.

Nissan reported a monthly YoY sales gain of 18.3% in November with 71,534 units sold. For the full year, Nissan Motor sold 849,714 vehicles in the U.S. between January and November, representing a 3% YoY increase.

General Motors (GM) sold 2.7 million vehicles in 2024, marking a 4% year-over-year improvement and its highest total since 2019. GM posted a 21% year-over-year improvement in Q4 of 2024. The company also sold 42,000 EVs in Q4 of 2024, up 10,000 from the prior quarter and nearly double the amount sold in Q2.

Ford's Q4 YoY US sales were up 17%, contributing to a full-year sales gain of 6%. Ford sold just over 2 million vehicles in 2024, led by sales of its best-selling F-Series trucks. Ford's EV and hybrid sales made significant strides in 2024, posting a 38% gain from a year ago with 285,291 vehicles sold. Q4 was Ford's best-ever quarter for EV sales, with 30,176 units sold.

BMW of North America sold 371,346 vehicles in the U.S., marking a 2.5% year-over-year increase and its second consecutive year of topping its annual sales mark. BMW's annual EV sales surpassed 50,000 units for the first time, with a 12.3% YoY improvement.

Tesla reported 495,570 vehicle deliveries in Q4, which was a monthly record for the automaker. Tesla's Model 3 and Model Y accounted for a majority of its annual deliveries in 2024.

Stellantis' FCA US sales dropped by 7% year-over-year in Q4 with 320,743 vehicles sold. Volkswagen of America's annual sales saw a 15.2% year-over-year increase, with 379,178 units sold. The Jetta and Tiguan saw significant YoY sales increases of 51.5% and 23.8% respectively for Volkswagen of America.

Mercedes-Benz USA posted a 9% year-over-year sales growth in Q4 with 88,259 vehicles sold.

In 2025, CEO appointments to improve overall operations and sales were limited, with only 114 new CEOs appointed globally in major publicly traded companies. This trend towards stability amid crises was reflected in the appointments of Christoph Kilian as new CEO at V-ZUG Group and Dan Cortez as Executive Vice President and COO of Eagle Lasers' US subsidiary, emphasising operational expertise and sales strategy.