- Trucks and SUVs accounted for 75% of registrations in the United States last year.
- SUV sales were up 5% and GM controls the segment with a 15.6% market share.
- Sales of ICE-powered vehicles fell as consumers bought more EVs and plug-in hybrids.
Americans have embraced a bigger is better philosophy and that’s being reflected in sales of trucks and SUVs. According to JATO Dynamics, they accounted for 75% of total vehicle registrations last year.
Of the 16.09 million vehicles sold in the United States, a whopping 9.17 million were SUVs. That’s an increase of 5% from 2023 and GM controls the segment with a 15.6% market share. They’re followed by Toyota (13.3%), Hyundai-Kia (12.6%), and Ford (9.6%).
More: Toyota RAV4 Ends Ford F-150’s Reign As America’s Best-Seller
Honda came in fifth place with a 9.4% market share, but they have reason to celebrate as they were the fastest-growing SUV brand last year. This was largely due to the popularity of the CR-V, HR-V, and Pilot.
Speaking of popular models, the redesigned Chevrolet Trax has been a huge hit. It saw the biggest gain in market share and was the 15th best-selling vehicle in America. The crossover’s success isn’t much of a surprise as the model starts at $20,500 and is a huge improvement over its predecessor.
Of course, one of the biggest stories of the year was the downfall of the Ford F-150. Despite a facelift, sales dropped 5% to 460,915 units. This enabled the Toyota RAV4 to become the best-selling vehicle in America with sales of 475,193 units.
EVs and plug-in hybrids continued to grow in popularity as automakers added more options to their lineups. EV sales climbed 12%, while plug-in hybrids surged 39%.
On the flip side, sales of ICE-powered vehicles fell 0.6% to 12.05 million units. That’s a small decline, but ICE-powered market share dropped below 80%.
