Nora Eckert of Reuters reports that U.S. new-car sales in 2024 continued to recover from pandemic lows, driven by replenished inventories and higher incentives. Sales are expected to exceed 15.8 million, the highest since 2019, with General Motors (GM) maintaining its sales leadership. Jeep-maker Stellantis and Tesla saw declines in sales. Electric vehicle sales reached nearly 1.3 million, around 8% of the total market. Eckert writes:
US new-car sales in 2024 continued to rise from their pandemic lows, bolstered by replenished inventories and higher incentives, analysts estimated.
Sales are expected to top 15.8 million, the highest level since 2019, with General Motors (GM) defending its 2023 sales crown, they said.
“It’s been a volatile year for the new-vehicle market, but it is expected to finish on a high note,” said Charlie Chesbrough, senior economist at Cox Automotive. […]
U.S. sales of electric vehicles are expected to approach 1.3 million, or about 8% of all new vehicles purchased, Cox said. Buyers’ willingness to go electric crept up slightly from 2023, when U.S. drivers bought 1.2 million EVs, comprising 7.6% of all sales, Cox said. […]
“As the positive trends of 2024 continue into 2025, improved overall inventory and greater availability of affordable vehicles are expected to sustain sales momentum,” Thomas King, president of the data and analytics division at J.D. Power, said in a statement.
Cox analysts expect new-vehicle sales to grow about 3% in 2025.
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