Weekly roundup: Detroit Three report strong EV growth and sales strategies

Earlier this week: GM doubled its EV market share and closed 2024 with robust growth. Ford powered into 2025 with record EV sales and a 6% retail boost. Stellantis bets on redesigned Ram heavy-duty trucks to reverse the sales slump. Canadian Prime Minister’s resignation complicates auto industry amid Trump’s tariff threats. The Sony-Honda Afeela 1 EV will start at $89,900 and arrive in mid-2026. Monthly new car payments hit an all-time high in Q4 2024. 

Here’s a closer look at these top stories and more headlines to stay on top of this week’s automotive industry news.

1. GM doubles EV market share, closes 2024 with robust growth
General Motors (GM) capped off a stellar 2024, driving U.S. sales up by 4%, reaching 2.7 million vehicles—its highest total since 2019. GM’s market share for the year stands at an estimated 16.5%. The company’s diverse portfolio, featuring both electric and gas-powered vehicles, played a key role in this success. Read More

2. Ford powers into 2025 with record EV sales and a 6% retail boost
Ford recently released its fourth quarter and yearly sales results. The automaker outpaced the broader industry’s growth rate, achieving double the pace in 2024. Retail sales surged 17% in Q4, leading to 6% growth for the entire year. This strong performance was driven by record EV sales, growth in the truck segment, and notable gains from the Lincoln brand. Read More

3. Stellantis bets on redesigned Ram heavy-duty trucks to reverse sales slump
Stellantis is betting on its newly redesigned Ram Heavy Duty trucks to reverse three years of persistent sales slump. The newly redesigned Ram 2025 2500 and 3500 pickups feature overhauled exteriors and interiors and will feature new 6.7-liter Cummins High-Output Turbo Diesel engines. These powerful engines, boasting an impressive 430 horsepower and 1,075 foot-pounds of torque, are perfect for heavy-duty hauling, towing, and other work-related jobs requiring serious power. Read More

Canadian Prime Minister’s resignation complicates auto industry amid Trump’s tariff threats
Canadian Prime Minister Justin Trudeau officially announced his resignation after nearly a decade in power on January 6, 2025, bringing nearly a decade of leadership to a sudden end. At the same time, he chose to prorogue Parliament until mid-March, a move that presents significant challenges for Canada’s automotive industry. Read More

The Sony-Honda Afeela 1 EV will start at $89,900, arrive in mid-2026
Sony and Honda, two giants in their respective industries, have joined forces to disrupt the automotive industry with their innovative approach to electric vehicles with the Afeela 1. The unlikely duo joined forces in 2022 to create Sony Honda Mobility (SHM). This joint venture leverages Honda’s automaking expertise with Sony’s innovative technology to launch new-generation EVs. Read More

Monthly new car payments hit all-time high in Q4 2024
The affordability crisis continues to surge in the automotive industry and remains a hot topic amongst dealers and consumers. According to the latest information from Edmunds, nearly 1 in 5 new-car shoppers committed to a whopping $1,000 or more monthly payments in Q4 2024. These staggering payments have hit an all-time high. Read More

Kevin Frye talks AI, CDPs, and dealer innovation ahead of NADA
As the NADA show approaches, industry leaders are gearing up to explore the latest advancements in automotive technology. Kevin Frye, Marketing Director at Jeff Wyler Automotive Family, shares insights into how AI and customer data platforms (CDPs) are revolutionizing dealership operations. In today’s episode of Inside Automotive, Frye discusses how dealers can leverage these technologies to streamline operations and improve customer interactions at NADA 2025. Watch the full segment here. 

Franchise Equity Partners transform automotive dealerships with unique private equity approach
In the latest episode of Inside M&A with Dave Cantin, we explore the world of private equity investment in the automotive industry with three leading experts. Joined by Dave Cantin, CEO of the Dave Cantin Group, Mike Esposito, founder of Franchise Equity Partners, and Mark LaNeve, partner and chairman at FEP, we delve into how private equity can help dealerships grow, consolidate, and adapt to the ever-changing landscape of automotive retail. Watch the full segment here. 

Andrew Suntrup on developing high-performance F&I teams and driving growth
In today’s episode of Training Camp with Adam Marburger, we’re joined by Andrew Suntrup, Vice President of Operations at Suntrup Ford Westport, to share his perspective on leadership, personal development, and the importance of process in automotive operations. Watch the full segment here. 

What dealers can expect at the 2025 J.D. Power Auto Summit – Doug Betts
Every year, the biggest names in retail automotive gather at the J.D. Power Auto Summit to share their expertise, unveil forecasts, and talk about what’s to come. In today’s episode of CBT Now, we’re joined by Doug Betts, the president of the Global Automotive Division at J.D. Power, to share what dealers can look forward to. Watch the full segment here.