Ford and GM Just Had Their Best Sales Year Since 2019… And EV’s Are Finally Living Up to The Hype

Well, well, well… looks like Americans are telling Dave Ramsey to shove his no-new-cars-unless-you’re-a-millionaire mantra where the sun don’t shine. 

While Ramsey’s out here preaching the gospel of “drive your beater until the wheels literally fall off,” Ford and GM just wrapped up their best sales year since before we started hoarding toilet paper (2019). 

Ford and GM dropped some encouraging stats on Friday, reporting their best U.S. vehicle sales since 2019. GM sold over 2.7 million vehicles in 2024, up 4.3% from the previous year. Ford wasn’t far behind with 2.08 million vehicles, marking a modest rise from just under 2 million in 2023. That’s a lot of new cars clogging the morning commute.

Oh, and don’t think it’s just the gas guzzlers carrying the team… EVs are doing their part. GM saw a 50% bump in EV sales, pushing them to over 114,000 units. Ford’s “electrified” lineup (think hybrids and full EVs) grew 38.3% year-over-year. 

Remember when automakers were crying over chip shortages? Yeah, those days are over. In 2024, the industry bounced back, selling nearly 16 million vehicles… the best year since 2019. GM’s Rory Harvey summed it up best: “The driving force for our business is new vehicles with great design and performance.” In other words: We made cool stuff, and people bought it. Ya, Dave Ramsey would probably roast the average American if he saw their budget. But Americans love their toys, and with EVs getting cheaper and sexier, it’s like dangling a plate of fries in front of someone on keto.

Ford’s EV sales alone hit 30,176 units in Q4, a 16% increase. GM? They sold nearly 44,000 EVs in the same period, doubling their Q4 2023 numbers. Sure, Tesla’s sales dipped slightly (maybe Elon was too busy naming his next kid something unpronounceable), but Detroit’s Big Three are bathing in the EV spotlight.

As of late 2024, GM and Ford are showing signs of acceleration, but they’re not exactly flooring it. Investors are cautiously optimistic, thanks to strong sales numbers and growing EV adoption, but concerns about margins and costly recalls are still a problem.

So, where do we go from here? GM and Ford are riding into 2025 with serious momentum, and EVs are leading the charge (pun intended). Ford’s electrified vehicles now make up 13.7% of their total sales, and GM claims a 12% EV market share in the U.S. as of Q4. One thing’s for sure, America’s love affair with new cars is back on full display, and Detroit is laughing all the way to the bank. 

P.S. Our "Insider Trade Tracker" recently flagged Peter Anevski, CEO & Director of Progyny, dropping $3 MILLION on his own company’s stock. That’s the kind of stinking rich confidence you don’t see every day… and exactly why our tool is a must-have for spotting where the smart money is moving in real time. Oh, and while we’re at it, we just ranked #23 for free News Apps, ahead of The Washington Post, CNN, Bloomberg, and more. 🎉 Wanna see what else we’re tracking? Become a Stocks.News premium member today. Or, no pressure… feel free to keep enjoying our free articles. Your call. 😉

Stock.News has positions in Ford, GM, Tesla, and Hasbro in article.