Sales of ICE-Powered Vehicles in the US Decreased Last Year While EVs and PHEVs Experienced Significant Growth | Carscoops
Trucks and SUVs made up 75% of vehicle registrations in the United States last year.
Sales of SUVs increased by 5%, with GM dominating the segment, holding a 15.6% market share.
Meanwhile, the sales of internal combustion engine (ICE) vehicles decreased as consumers opted for more electric vehicles (EVs) and plug-in hybrids.
Americans have adopted a "bigger is better" mentality, reflected in the strong sales of trucks and SUVs. According to JATO Dynamics, these vehicles comprised 75% of total registrations in the previous year.
Out of the 16.09 million vehicles sold in the U.S., an impressive 9.17 million were SUVs. This marked a 5% increase from 2023, with GM leading the segment at 15.6% market share, followed by Toyota (13.3%), Hyundai-Kia (12.6%), and Ford (9.6%).
Honda ranked fifth with a 9.4% market share and celebrated as the fastest-growing SUV brand due to the popularity of the CR-V, HR-V, and Pilot models.
In terms of popular vehicles, the redesigned Chevrolet Trax experienced significant success, recording the largest increase in market share and ranking as the 15th best-selling vehicle in America. Its popularity isn't surprising, as it starts at $20,500 and offers substantial improvements over the previous model.
One notable trend last year was the decline in sales of the Ford F-150. Despite a redesign, sales fell by 5% to 460,915 units, allowing the Toyota RAV4 to take the title of best-selling vehicle in America with 475,193 units sold.
Electric vehicles and plug-in hybrids continued to grow in popularity, thanks to automakers expanding their offerings. EV sales rose by 12%, while plug-in hybrids surged by 39%.
Conversely, sales of ICE vehicles dropped by 0.6% to 12.05 million units, a minor decline, but their market share fell below 80%.
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Sales of ICE-Powered Vehicles in the US Decreased Last Year While EVs and PHEVs Experienced Significant Growth | Carscoops
In 2024, trucks and SUVs accounted for 75% of all vehicle registrations.