The inventory of new GM vehicles at dealerships – including vehicles in transit to dealers – surged by 30 percent in the fourth quarter (Q4) of 2024, according to inventory data from The General.
In all, 596,775 new vehicles were in stock or in transit as of December 2024. This represents a 30.7-percent increase year-over-year compared to the same time period in 2023, as well as a 4.8-percent decline from Q3 2024, when 627,048 units were in stock or transit as of September 2024.
“It was a great year for us across our product lines,” said Rory Harvey, GM executive VP and president of global markets. “How did we do it? By investing to have the best portfolio in the industry. We have something for everyone, no matter what they like to drive.”
Deliveries are up year over year, with Cadillac and GMC leading the charge in sales growth, while Chevy and Buick had more modest but still impressive sales boosts.
Cadillac sales were up a whopping 35 percent compared to Q4 2023, with the sales growth led by the Escalade, which got a refresh for the 2025 model year. GM also credited the Lyriq as America’s best-selling electric midsize luxury SUV. GMC had its best year ever in sales and market share, partially thanks to its best-ever Q4 performance. Sales spiked 33 percent with the Sierra and Canyon pickups having their best years ever, and Acadia sales up 58 percent with the introduction of the new generation.
Chevy celebrated its 10th consecutive quarter of retail sales growth and its best Q4 since 2020. New Traverse sales were up 60 percent, the refreshed Tahoe and Suburban began deliveries, and the Equinox EV entered the top five ranking of America’s best-selling EVs. Its total sales growth for Q4 2024 was 17 percent compared to the same period a year prior. Buick deliveries rose 10 percent relative to the previous year, with Buick Envista sales jumping 57 percent and the Buick Envision netting its best quarter ever.
GM also listed several other highlights of the company’s performance in Q4. These include best-ever EV sales and market share, having sold 43,982 electric vehicles during the quarter, which it estimates is good for a 12 percent U.S. EV market share. Q4 EV sales were up 125 percent, and GM’s total U.S. EV sales in all of 2024 saw a 50 percent increase.
The General also boasted what it calls “strong pricing and disciplined incentives,” which means higher transaction prices and a lower incentive spend per vehicle.
Comment
As Mary Buick Envision Made in China-Barra keeps raising prices, dealer inventories will continue to rise.