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It’s time for one more have a look at how the US auto business has modified in recent times, on this report focusing in on the 4th quarter and lengthening from 2024 again by means of 2019. Let’s dive in and see how issues have modified throughout the business first, earlier than narrowing all the way down to the auto model degree.
As you’ll be able to see in these first two charts, post-COVID, the auto business has been rising steadily and fairly strongly up to now three years. Auto gross sales grew 7% in This autumn 2024 versus This autumn 2023, 16% in comparison with This autumn 2022, and 27% in comparison with This autumn 2021. Nonetheless, that stated, the business has not recovered to its pre-COVID degree. This autumn 2024 had 2% fewer gross sales than This autumn 2019, or about 85,000 fewer gross sales.
Zooming in on fossil gasoline car gross sales, we will see that the story is a bit worse for these “old-school vehicles.” Non-electric cars nonetheless had 7% extra gross sales than within the 4th quarter of 2023, however had 13% greater than This autumn 2022 (in comparison with 17% extra within the general market) and 21% greater than This autumn 2021 (in comparison with 27% extra within the general market). That’s nonetheless development, in fact, however then in comparison with This autumn 2020, gross sales have been down 7%, and in comparison with This autumn 2019, gross sales have been down 9%.
What does that imply? Naturally, which means EVs have seen sturdy development over the previous 5 years. EV (pure battery-electric car) gross sales have been up 15% within the 4th quarter of 2024 versus the 4th quarter of 2023, up 61% in comparison with the 4th quarter of 2022, up 146% in comparison with the 4th quarter of 2021, up 284% in comparison with the 4th quarter of 2020, and up 480% in comparison with the 4th quarter of 2019.
Simply taking a look at 4th quarter 2024 gross sales by auto model, Toyota, Ford, and Chevrolet sit properly above the remainder. Absolutely electrical auto model Tesla was down in tenth, at lower than a 3rd of Toyota and Ford gross sales and roughly a 3rd of Chevrolet gross sales. Different totally electrical manufacturers are additionally available on the market in fact — Rivian, Lucid, Polestar, Brightdrop, and Fiat — however they’re all down at or close to the underside of the gross sales chart (for now).
When you actually need to spend quarter-hour or so taking a look at a chart, the one above has an unlimited quantity of element. There’s additionally an interactive model of it on the underside of this text.
The following 10 charts look in additional element on the adjustments by model quarter over quarter going again to 2019 (adjustments in each share phrases and quantity phrases). I’ll begin by wanting again additional (to This autumn 2019) to spotlight extra dramatic adjustments available in the market, however there are additionally notable adjustments in recent times.
In fact, Tesla grew a ton from 2019 to 2024, by 203%. Considerably surprisingly, Genesis really beat that with with 265% development (however at a a lot decrease quantity). In the meantime, there are massive losses amongst varied auto manufacturers (Jeep, Dodge, Ford, Nissan, Ram, Alfa Romeo, Fiat, and Infiniti most notably).
It’s an identical story in comparison with This autumn 2020, however Genesis had a fair larger development share! (352%) On a quantity foundation, it’s Kia and Hyundai which can be proper behind Tesla by way of enchancment over This autumn 2019 and This autumn 2020.
COVID clearly threw the market right into a whirlwind for a number of years. Nonetheless, wanting again to final yr, we will get a extra regular, steady-state market comparability. On this case, Chevrolet stands out with development of practically 69,000 gross sales in This autumn 2024 in comparison with This autumn 2023. GMC, Ford, Kia, and Honda additionally did fairly properly.
Nonetheless, on a share development foundation, it was small gamers — particularly electrical ones — doing very properly. Fiat, which is now 100% electrical within the US, grew 317%. Brightdrop, a 100% electrical model from GM, grew 227%. Them after Chrysler rising 166%, 100% electrical Lucid grew 79% yr over yr. In fact, these are all ranging from very small ranges, but it surely’s development nonetheless. Curiously, Cadillac was excessive up on that checklist as properly and it’s been main the legacy auto marketplace for the share of its gross sales that are actually electrical automotive gross sales.
Some other massive takeaways from these quarterly comparisons and the auto business adjustments of the previous 5 years?
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Author : tech365
Publish date : 2025-03-01 20:18:07
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