General Motors and Ford both reported their best year of US sales since the coronavirus pandemic scrambled the car market, as lower interest rates, higher inventory and deals persuaded shoppers to buy.
GM sold 2.7mn cars in the US in 2024, and Ford sold 2.1mn — a 4 per cent increase in sales for both companies compared to 2023. The totals were the companies’ highest since 2019.
The pace of car sales sped up at the end of the year as falling interest rates and improved inventory combined with a reduction in uncertainty tied to the US election that had kept consumers on the sidelines for several months.
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