In 2024, U.S. car sales showed encouraging growth, while the European market remained mostly stagnant, according to JATO Dynamics. American buyers have historically favored petrol vehicles, but battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) led market expansion in 2024.

BEV and PHEV sales jumped by 12% and 39% in 2024, respectively. Meanwhile, internal combustion engine vehicles (ICEs) fell below the 80% market share threshold, according to JATO. ICE sales dropped to 12.05 million units, declining 0.6% from 2023.

Despite record EV sales, the U.S. still lags behind China and Europe in overall EV adoption.

2024 Best Selling Vehicles

The Ford F-Series, which includes the F-150, F-250, F-350, and F-450, led the market with over 765,600 units sold, up 2% from 2023. The F-250 drove this growth with a 14% sales increase, while F-150 sales declined by 5%, according to JATO. Electric F-Series sales surged 21% but still accounted for only 4% of total F-Series sales.

The Chevrolet Silverado lineup—1500, 2500, 3500, and 4500—secured second place. The Toyota RAV4 followed as the third best-seller, with sales rising 9% despite its aging model and an upcoming redesign, JATO said.

The Ram pickup series (1500, 2500, 3500, and 4500) experienced the largest drop among the top 10, slipping from fourth to fifth place, overtaken by the Honda CR-V. Meanwhile, the Toyota Corolla, including sedan and hatchback models, recorded the highest percentage growth, JATO found.

SUVs and Trucks Dominate 2024 U.S. Car Sales

SUV and pickup truck sales reached record highs, making up 75% of total U.S. car sales in 2024. A decade ago, these segments accounted for only half of the market. Today, three out of every four new vehicles sold in America fall into these categories.

SUVs drove growth for most automakers, with total sales reaching 9.17 million units—an increase of 5% from the previous year, according to JATO. General Motors led the segment with a 15.6% market share, followed by Toyota (13.3%), Hyundai-Kia (12.6%), Ford (9.6%), and Honda (9.4%). Honda posted the fastest growth among SUV brands, thanks to strong sales of the CR-V, HR-V, and Pilot.

Pickup trucks also grew in volume, albeit at a slower rate (4%), JATO found. They remained vital for companies like Ford (43% of total sales), GM (36%), and Stellantis (31%). The Tesla Cybertruck’s arrival had less impact than expected. General Motors topped truck sales rankings, while the Ford F-Series remained the best-selling model.

Honda and Chevrolet Trax Gain Market Share

Market growth in 2024 did not benefit all automakers equally, according to JATO. Honda recorded the largest market share increase, rising by 0.45 percentage points to 8.8%. However, this remained below its 9.7% share in 2021, the brand’s highest in the past decade.

Among individual models, the Chevrolet Trax, a compact SUV, gained the most market share. It climbed to the 15th spot on the best-sellers list, with 200,700 units sold.

ICE 2024 U.S. Car Sales

The U.S. auto industry sold 16.09 million units, marking a 3.3% increase from the previous year. According to JATO, this figure represents the highest sales level since 2019, before the COVID-19 pandemic disrupted the industry.

Total registrations surpassed 2021 figures by one million units and exceeded 2020 levels by about 1.5 million. However, sales remained below 2019 levels, when nearly one million more vehicles were sold.

Strong economic recovery in the latter half of the previous year and a slowdown in new vehicle price increases fueled this growth.