GM Posts 4% Sales Growth in 2024, as Market Share Expands
General Motors capped off 2024 with a strong 4% increase in U.S. sales—reaching 2.7 million vehicles—for its best annual performance since 2019. The automaker estimates a 16.5% market share and reports finishing the year with about 54 days of inventory, right on target. Key highlights include a 50% leap in electric vehicle (EV) sales for the year, a 125% jump in EV deliveries in the fourth quarter, and GM maintaining its crown as the nation’s leading seller of full-sized pickups for a fifth straight year. Meanwhile, all four major GM brands—Chevrolet, GMC, Buick, and Cadillac—achieved notable gains in 2024, punctuated by record demand for Cadillac Escalade and the surging popularity of the Equinox EV.
In the final quarter alone, GM sales soared 21% year over year, boosted by 42,000 EV deliveries—nearly doubling second-quarter totals. Rory Harvey, GM’s executive VP and president of global markets, credits the robust product lineup for driving both consumer satisfaction and the rising transaction prices that approached $53,000 in Q4, surpassing industry averages. With overall new-vehicle volume hitting the highest level since 2019 for many domestic automakers, GM remains at the forefront of U.S. sales, fending off competition from Ford and Tesla in the race for EV and combustion-engine supremacy.
Looking ahead to 2025, GM anticipates carrying substantial momentum into the new year. As consumers continue to embrace a balance of electric models—like the Equinox EV and the Cadillac LYRIQ—and classic pickups and SUVs, GM’s multi-pronged strategy underscores its ability to adapt and flourish in an evolving marketplace. Harvey believes a broad, high-quality portfolio will continue to solidify GM’s leadership as the auto industry races toward a more electrified future.
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