US Auto Sales: 2019-2024 Trends
Following up on recent reports regarding Q4 auto sales in the US, this report takes a broader look at the entire year’s sales, comparing 2024 figures with those from as far back as 2019, the final year before the COVID-19 pandemic. This extended analysis provides a detailed view of the evolving automotive landscape.
Overall Market Trends
First, it’s worth noting that total US auto sales increased in 2024 compared to the years immediately following the onset of the COVID-19 pandemic. While a modest 3% increase was observed compared to 2023, the real story unfolds when breaking down sales by vehicle type.
Fossil Fuel Vehicle Sales
Sales of gasoline and diesel vehicles saw a slight uptick compared to 2023, and a more substantial increase compared to the market’s downturn in 2022. However, a contrasting trend emerged against the pre-pandemic baseline. Fossil fuel vehicle sales were down considerably—by 12%—compared to 2019 sales. In addition, sales saw a 5% decline when compared with 2021 sales.
Electric Vehicle Sales
Electric vehicles, however, experienced consistent annual growth over the same period. 2024 saw a 7% increase in EV sales compared to 2023.
- 2022 EV sales climbed 61%
- A 166% jump versus 2021
- A remarkable 406% increase over 2020
- An astounding 478% rise compared to 2019
This data underscores the dramatic shift: fossil fuel vehicle sales declined 12% from 2019 to 2024, while electric vehicle sales surged by 478%.
Brand Performance
Looking at 2024 sales by brand, the “big three” – Toyota, Ford, and Chevrolet – continue to lead, with Honda not far behind. Tesla, the only fully electric brand in the top ranks, secured 9th place overall, a trend that showed improvements from previous years. This marks a rise from 12th in 2022 and 19th back in 2019.
Other fully electric brands, including Rivian, Lucid, Polestar, Brightdrop, and Fiat, have seen smaller volumes. Tesla, despite its drop from 8th to 9th, still expanded its market size overall.
In 2024, several electric brands saw significant percentage growth compared to the prior year.
- Brightdrop saw 208% growth
- Fiat grew by 153%
- Lucid increased by 53%
Rivian reported a 3% gain.
Tesla’s Remarkable Growth
Comparing 2024 to 2019, Tesla’s growth is the standout story. The company’s US sales grew by 442,523 units, a 235% increase, reflecting incredible expansion over the past five years. This growth is noteworthy, even with a slight dip in sales compared to the previous year.
