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GM notches best sales since 2019 as all brands see annual growth

Luke Ramseth, The Detroit News on

Published in Business News

Sales across General Motors Co.'s brands grew in 2024, with the automaker reporting Friday that it had the best overall U.S. sales total since prior to the pandemic in 2019.

GM's 2.7 million vehicles sold for the year in the U.S. was a 4% uptick from 2023 — still under 2019's nearly 2.9 million, but marking continued steady sales growth since a recent low point of about 2.2 million in 2021.

The automaker continued to post strong overall pickup sales, long a key profit-driver, but also notched a new record for electric vehicle sales. EV sales grew by half from 2023 and as GM's battery-powered lineup has continued to expand.

GM's fourth-quarter vehicle sales increased 21% year-over-year and included another record period for EV sales with 43,000 deliveries — up 125% compared to the same three months in 2023, and also an increase of more than 10,000 units over the prior 2024 quarter. GM has expanded its electrified lineup to now include seven models that include full-size pickups and different variations of SUVs.

In terms of GM's brands in 2024, Buick sales grew by 10%, Cadillac was up almost 9%, Chevrolet increased less than 2% and GMC sold about 9% more vehicles.

 

“The driving force for our business is new vehicles with great design and performance across our portfolio, helping our dealers satisfy more customers," Rory Harvey, GM executive vice president and president of global markets, said in a statement. "We’re carrying significant momentum into 2025.”

The top-selling Chevrolet Silverado full-size pickup notched 555,609 sales in 2024, up just slightly from 2023, while its cousin GMC Sierra was up almost 10% year-over-year. The mid-sized Chevy Colorado and GMC Canyon pickups each saw a healthy sales surge in 2024.

Meanwhile, sales of several popular Chevy SUVs fell last year, but the budget-minded Trax continued its surge in popularity, with more than 200,000 of the compact SUVs sold in 2024, up from 109,000 the year before.

GM's average transaction prices inched up in recent months, ending the year at nearly $53,000, while its incentive spending on vehicles dropped in the same time period.


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