They both turned in a solid year of electric-vehicle sales, growing faster than the overall U.S. EV market. Ford sold 30,176 all-electric cars in the fourth quarter, up about 16% year over. Mustang Mach-E sales led the way up 36%.

Ford sold more than 530,000 vehicles in the quarter, a gain of nearly 9 percent. That included 30,176 electric vehicles, an increase of 16 percent. For the full year, G.M. sold 2.7 million cars and trucks, and Ford nearly 2.1 million vehicles, with each company seeing a rise of just over 4 percent.

Ford also said it was extending its "Power Promise" campaign to cover the cost of home chargers and their standard installation for new EV buyers.

The auto industry is on track to report that it eked out a small increase in U.S. vehicle sales for 2024, helped by better availability on the new-car lot and a flurry of promotional deals in recent months.

Toyota Motor North America reported a 3.7% rise in annual U.S. auto sales on Friday, benefiting from higher demand for its hybrid vehicles. The company, a unit of Japan's Toyota Motor Corp, sold 2.33 million vehicles in 2024,

Key Takeaways Ford and GM reported more new vehicles sold in the U.S. in 2024 than any year since 2019.Both companies reported large electric vehicle sales gains in 2024.Ford shares fell 19% last year,