U.S. Auto Sales Rise in 2024: What's in Store for 2025? [Yahoo! Finance]
Toyota Motor Corporation (TM)
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Source: Yahoo! Finance
The U.S. auto industry has shown remarkable resilience in 2024, continuing its rebound after experiencing a decade-low in 2022. With replenished inventories, rising hybrid demand, and strategic promotional incentives, most automakers closed 2024 on a high note. New car sales in the United States increased to 15.9 million units in 2024, marking 2.2% year-over-year growth, according to Wards Intelligence. This five-year high was buoyed by robust holiday sales, which spiked 6% in December, and an impressive performance in the fourth quarter. The industry benefited from stronger inventories, deeper discounts, and a preemptive rush in EV purchases following Donald Trump's election victory, as buyers sought to leverage expiring tax credits. A Glance Through the Sales Numbers General Motors GM retained its crown as the top-selling U.S. automaker in 2024, followed by Toyota, Ford, Hyundai-Kia, Honda, and Stellantis. GM sold 2.7 million vehicles in 2024, a 4.3% increase year over year,
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