03:04 PM EST, 01/03/2025 (MT Newswires) -- Ford Motor ( F ) and General Motors ( GM ) on Friday reported year-over-year gains in 2024 and fourth-quarter US vehicle sales, aided by electric vehicle strength.

Ford's full-year sales rose 4.2% to about 2.08 million vehicles, with hybrid and EV sales jumping 40% and 35%, respectively. Each of the company's EVs set new sale records in 2024, the automaker said in a statement. Truck sales advanced 7.1%, while sport utility vehicles grew 1.2%. Car sales dropped 9.5%.

For the December quarter, Ford's US vehicle sales rose 8.8% year over year to 530,660 units, led by a 27% jump in hybrid vehicles. EV sales advanced 16% to 30,176, which the company said was a "new best-ever" performance.

Fourth-quarter F-Series truck sales grew 21%, despite a 10% drop in the F-150 Lightning vehicle, company data showed.

"Entering 2025, Ford bolstered its vehicle inventory to help offset the impact of expected supply reductions during plant changeovers for key product launches, including the new Expedition, Navigator and Bronco," the automaker said in a statement.

Separately, GM said its US vehicle deliveries increased 4.3% to 2.71 million units in 2024, its highest tally since 2019. Buick sales jumped 9.8%, while GMC and Cadillac rose 8.9% and 8.8%, respectively. Full-year EV sales soared 50% to 114,432 units.

Fourth-quarter US vehicle deliveries grew 21% from a year earlier to 755,160 units, with EV sales surging 125% to 43,982. GMC, Chevrolet and Cadillac logged double-digit percentage sale gains each, while Buick increased 9.5%.

"The driving force for our business is new vehicles with great design and performance across our portfolio, helping our dealers satisfy more customers," GM President of Global Markets Rory Harvey said. "We're carrying significant momentum into 2025."

Ford shares were up 2.6% in Friday late-afternoon trade, while GM rose 0.6%.

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