The Ford group sold 4.07 million vehicles (passenger cars and light utility vehicles) in 2024
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The Ford group sold 4.07 million vehicles (passenger cars and light utility vehicles) in 2024
- The Ford Group (Ford, Lincoln) sold 4,065,717 vehicles (passenger cars + light utility vehicles) worldwide in 2024, compared to 4,035,115 in 2023, which represents a small increase of 0.8%.
- Formerly the world's second-largest carmaker for much of the 20th century, Ford fell to sixth place in the early 2000s before dropping back to seventh place behind China's BYD in 2024.
- Like its compatriot GM, Ford has given up on its sedans market in the United States and has gradually exit a number of markets, such as Russia, India and especially South America, but has also seen its influence in Europe and China significantly reduced. Ford could eventually withdraw from the European and Chinese markets, according to Inovev.
- Like GM – and one might wonder whether these are factual trends or carefully considered strategies – the Ford group will achieve half of its sales in 2024 in its historic market, the United States.
- In this market, Ford sold 2,035,295 vehicles last year, while its rival GM sold 2,689,399 units. Of this volume, the F-Series pickup (the best-selling vehicle in the United States) found 735,806 customers, representing 36% of its sales in the USA.
- The Ford Group sold 149,566 BEVs worldwide in 2024 , representing 3.7% of its global sales, a figure very close to that recorded by GM, if we exclude the Chinese brands Wuling and Baojun. Its best-selling BEVs were the Ford Mustang Mach E (51,745 units), the Ford F-Series Lightning (33,510 units), the Ford Explorer (15,046 units) and the Ford Transit E (12,610 units).
The GM group sold 5.44 million vehicles (passenger cars and light utility vehicles) in 2024
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The GM group sold 5.44 million vehicles (passenger cars and light utility vehicles) in 2024
- The GM group sold 5,437,748 vehicles (passenger cars + light utility vehicles) worldwide in 2024, compared to 6,052,967 in 2023, which represents a decrease of 10.2% mainly attributable to the continued sharp decline of sales in China (-22.0% of sales in 2024, which is equivalent to a loss of 440,000 vehicles).
- The GM group, once the world's leading carmaker (it remained so from 1931 to 2008), is in fourth position in 2024, behind the Toyota, Volkswagen and Hyundai-Kia groups, practically tied with the Stellantis group.
- And this ranking takes into account the Chinese subsidiaries Wuling and Baojun (1,094,802 sales in 2024) owned 44% by GM and therefore included in GM's figures. But these subsidiaries are 50.1% owned by the Chinese carmaker SAIC and it is not illogical to count them from the GM group's sales in a "Chinese" ranking. This means that the GM total would fall in this case to 4.12 million global sales in 2024, which would place it behind Stellantis and BYD but just ahead of Ford.
- With GM Group having withdrawn from the European and Russian markets, as well as from the Indian market, it has practically only three major markets left: the United States, China and Latin America (South America and Mexico).
- But its situation in China is increasingly fragile and a withdrawal from this market is not impossible in the short or medium term.
- The GM group sold 821,000 BEVs last year worldwide, including 608,000 in China ( Wuling , Baojun ) and 213,000 in the United States (Buick, Cadillac, Chevrolet, GMC), which is equivalent to 15% of its global sales (but only 3.
The Toyota group sold 10.82 million vehicles (passenger cars and light utility vehicles) in 2024
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The Toyota group sold 10.82 million vehicles (passenger cars and light utility vehicles) in 2024
- The Toyota group (Toyota, Lexus, Daihatsu, Hino) has managed the Daihatsu scandal at the beginning of the year rather well, as it has gradually offset for a large part of the interruption in production at its subsidiary Daihatsu in the first quarter.
- Daihatsu scandal in early 2024 involved safety tests falsified by the Toyota subsidiary over several decades. An independent investigation revealed that Daihatsu teams had intentionally manipulated crash test results to obtain validation of vehicle safety levels. This led to a mass recall of 64 different models and the withdrawal of the certification of three utility vehicles by Japanese authorities. Production was suspended at Daihatsu's four assembly plants in Japan, and vehicle sales were frozen in all markets where the brand operates.
- Finally, the Toyota group sold 10,821,480 vehicles (passenger cars and light utility vehicles) worldwide last year, down 3.7% compared to 2023 (but down 19.7% in Japan). The Toyota brand sold 9,308,122 vehicles (-1.4%), Lexus 851,214 (+3.3%), Daihatsu 536,588 (-32.1%), and Hino 125,556 (-7.1%). It should be noted that the Lexus brand posted a new sales record last year.
- The scarcity of its battery electric vehicle offering has not handicapped the Toyota group, which traditionally relies on full-hybrid (HEV) technology, which continues to develop across the carmaker's entire range, in Japan, the United States and Europe.
- This is the fifth consecutive year that Toyota has been the world leader in car sales, and Inovev believes that the leading Japanese carmaker could remain so for several more years, even if it sells very few all-electric cars. The Toyota group sold 136,847 BEVs in 2024, representing only 1.3% of its total sales.
Nissan sold 3.35 million vehicles (passenger cars and light utility vehicles) in 2024
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Nissan sold 3.35 million vehicles (passenger cars and light utility vehicles) in 2024
- The Nissan group (Nissan, Infiniti) sold 3.35 million vehicles (passenger cars + light utility vehicles) worldwide in 2024, compared to 3.37 million in 2023, which represents a slight decrease of 0.8% and which places the Japanese carmaker, previously under the control of Renault but now independent, in ninth place worldwide behind Honda and ahead of Suzuki.
- Recall that Nissan was in seventh place in 2010 and remained so until 2017. The former second-largest Japanese carmaker has lost a lot of influence since its separation from Renault. Nissan sold nearly 6 million vehicles worldwide in 2017. In seven years, it has lost nearly half of that.
- Nissan recently announced a further reduction in its production capacity and the layoff of several thousand employees. Even more recently, Nissan announced a possible merger agreement with Honda to create the world's third or fourth largest automaker, but it appears this project is now cancelled due to diverging interests between Honda and Nissan.
- Nissan has also sold part of its stake in Mitsubishi, which could permanently separate it from its compatriot. In short, Nissan's future seems very uncertain today, to the point of recalling its situation in 1999, when the carmaker was virtually bankrupt. Its BEV sales (121,380 units) represent only 3.6% of its global sales.
- Nissan's largest market in 2024 remains the United States, followed by China, Japan and Europe.
“Chinese” ranking of carmakers (passenger cars + light utility vehicles): Toyota first in 2024, Hyundai-Kia second (2/2)
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“Chinese” ranking of carmakers (passenger cars + light utility vehicles): Toyota first in 2024, Hyundai-Kia second (2/2)
- By including foreign cars produced under license by Chinese carmakers to the credit of Chinese carmakers (and not of foreign carmakers), we obtain a “Chinese” ranking of carmakers completely different from the “Western” ranking, particularly concerning the Top 20.
- While the Toyota group remains the world's leading carmaker in 2024 in this ranking, the Hyundai-Kia group is second, ahead of the Volkswagen group in third place, due to the much larger production volume achieved in China by Volkswagen compared to Hyundai-Kia.
- Stellantis Group is fourth due to its very low production in China, which allows it to supplant GM Group, which produces much more in China (through SAIC).
- GM's drop to 6th place allows BYD to take 5th place. SAICGroup is 7th thanks to its production for GM and VW, but this formerly leading carmaker in China has declined significantly (due to the decline of GM and VW production in China) to the point where it is behind BYD in terms of production volume for the first time.
- Seven Chinese carmakers are present in this Top 20, compared to five in the previous ranking. Besides SAIC, FAW and Dongfeng also appear, both of which produce many foreign cars under license. Tesla is ranked 19th. Inovevpredicts a continued decline of Chinese carmakers producing foreign cars and a growth of Chinese carmakers producing only Chinese cars.