USA 2024. Chevrolet Leader In A Fast Started Auto Market

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USA Vehicles Sales fast start the 2024. February closed with 1.58 million new sales (+37.6%). Chevrolet becomes new marketed leader with sales up 88.3% overtaking Ford.

Market Trend and Outlook

The American vehicles market in February 2024 recovers with 1.58 new sales (+37.6%) from a slow start in January, which was down by 2.0%. YTD sales reach 2.67 million sales (+18.1%). 

Brand-wise, Chevrolet gains leadership with 364,791 sales (+42.5%), followed by Ford -down 1 spot- with 309,361 registrations (+6.9%) and Toyota in 3rd with 302,461 units sold (23.0%).

Honda maintains 4th position with 184,195 sales (+25.1%), in front of Nissan in 5th with 166,755 sales (17.5%), Jeep -up 3 spots- at 137,095 (-1.8%), RAM -up 5 spots- with 120,542 sales (+45.2%) and GMC -up 3 spots- in 8th with 120,482 new registrations (+43.1%).

Kia falls 3 spots into 9th with 110,150 sales (-2.4%) and Hyundai -down 2 spots- closes the top 10 with 107,884 units sold (-1.1%).

Models-wise, the Chevrolet Silverado remains the best seller with a 61.4% increase in year-on-year volume, followed by the Ram pick-up, up 53.0%.

 

Medium-Term Market Trend

After the fall reported as consequence of 2008 economic crisis, when the market dropped from near 18 to 10 million annual volumes, since the 2010 the market recovered supported by a quite positive economic cycle.

Starting at 11.5 million in 2010, the American light vehicles market rose for 6 consecutive years, ending 2016 with a peak of 17.6 million sales. From 2017 to 2019 the market bounced around the low 17 million mark.

The arrival of the pandemic in 2020 made many manufacturers and distributors close down, causing a big problem in the automobile industry, with sales in the US falling 13.9% to 14.7 million by the end of the year.

While in 2021 a shy recovery was reported (+4.3%) the market kept suffering in 2022 as all manufacturers are deeply involved in the electrification evolution, with huge government incentives supporting EVs and Tesla gaining market share and revolutionizing the traditional and consolidated approach to the market. And the 2022 market level was the lowest in a decade.

In 2023 the vehicle market was able to recover, reporting 15.36 million sales (+12.4%) sustained by strong incentives to EVs models and economic growth.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Groups, and top 10 Models.

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