Summary
- Acura’s sales dropped 18.13% YTD, with its MDX remaining a bright spot.
- Genesis achieved a record-breaking 34.96% sales growth in November 2024, led by the GV70.
- Lincoln posted a 39.59% YTD sales increase, driven by the Nautilus SUV.
- Hyundai Motor America saw an 8% November sales increase, fueled by electrified vehicle demand.
- Rising average transaction prices (ATPs) in luxury segments reflect strong consumer demand.
Despite all the EV buzz, internal combustion engine (ICE) models still hold their ground in the U.S. car market. Even with the number of headlining EV sales, the fact remains that several conventionally ICE-powered models post some impressive sales surges. It doesn’t look like the appetite is going away yet, evidenced by the high sales uptake of models such as the Lincoln Aviator, a full-size, luxury SUV with a gasoline-only engine as its sole powertrain offering.
Some automakers are performing exceptionally well with traditional combustion models, particularly in the luxury segment. And their year-to-date performance indicates a positive outlook for the rest of the year and beyond 2025.
In this post, we take a closer look at some of last month’s biggest winners and losers in U.S. car sales. From Acura’s downturn to Genesis’s consistent growth and Lincoln’s remarkable soar, we explore some of the statistics and trends shaping the current landscape of the auto industry.
Acura Sales Drop 18.13% Year-to-Date
As Honda’s luxury brand, Acura has never been about massive sales volumes, but it did enjoy a strong year in 2023. Total sales reached 145,655 vehicles—a 42.4% increase over 2022—driven by standout performers like the MDX, which sold 57,599 units, and the RDX, which grew 58.5% with 39,228 units sold. Even the resurrected Integra made a splash, with sales jumping 146.3% year-over-year to 32,090 units. However, 2024 has told a very different story.
Despite having a compelling 2024 lineup, through the first four months of this year, Acura sold 40,917 vehicles across the U.S., marking a 12.5% decline compared to the same period in 2023. This slump was even more pronounced for Acura’s cars, with sales dropping 26.2% during that time. November did little to reverse the trend—Acura moved 11,399 units for the month, bringing the year-to-date total to 108,726 vehicles, down 18.13% from last year’s 132,799 units.
The MDX continues to be Acura’s best-seller, with 4,328 units sold in November alone, highlighting its role as a bright spot in an otherwise challenging year. As 2024 progresses, Acura will need to address this downward trajectory and find ways to recapture the momentum it enjoyed just a year ago.
Genesis Sets a New Record with 34.96% Growth Last Month
Genesis, Hyundai’s luxury division, celebrated an extraordinary milestone in November 2024, reporting 8,003 total sales. This marked an all-time monthly sales record for the brand and a remarkable 34.96% growth compared to November 2023, when Genesis sold 5,930 units. The standout performer for the month was the Genesis GV70, which achieved its best-ever monthly sales with 3,235 vehicles sold.
These remarkable results for Genesis completed the broader success story of Hyundai Motor America. Hyundai recorded a record-breaking 76,008 total sales in November, reflecting an 8% increase over the same period in 2023. Retail sales climbed 15% due to surging interest in the company’s electrified vehicle lineup. EV sales of the Korean luxury brand soared by 77% year-over-year, while hybrid sales jumped an even more impressive 104%.
Genesis’s steady growth has not only helped it solidify its position as a star on the rise in the luxury market but also has aided the overall momentum for Hyundai Motor America. Hyundai is taking advantage of shifting consumer tastes, with customers flocking to a lively lineup including luxury SUVs such as the GV70 and state-of-the-art electrified models. With the benchmark the Genesis continues to set, the future seems bright for this premium offshoot of the Hyundai family.
Lincoln Leads the Pack with a 39.59% Year-to-Date Surge
Ford Motor Company’s US sales including the Ford and Lincoln brands rose 14 percent to 166,373 units in November 2024. Lincoln, Ford’s luxury division, has been on a roll all through 2024, and November sealed the deal. The brand saw 9,279 sales for the month, an increase of 48.68% over November 2023, when it sold 6,241 units.
Year-to-date, Lincoln has crossed the 100,000-unit threshold, with 100,760 vehicles sold an astonishing 39.59% over the 72,182 units sold by this time last year. At the forefront is the Chinese-made Lincoln Nautilus, the brand’s mid-size luxury SUV, which has become a keystone in its recent successes. Nautilus sales were up 44% through October, at 29,155 units, underlining its success in a very competitive sector.
Lincoln’s growth is part of a broader trend of higher average transaction prices (ATPs) in the market. In November, Lincoln’s ATP was $66,623, a slight increase from October, reflecting strong demand for its premium offerings. Meanwhile, the luxury segment overall has seen rising incentives, which averaged 8% of ATP last month, helping to maintain sales momentum.
This consistent growth represents a complete about-face for Lincoln, which had struggled in recent years. As it continues to expand its lineup and deliver on consumer expectations for luxury, Lincoln seems well-positioned to maintain this upward trajectory into 2025.
Looking Ahead
The November 2024 U.S. car sales report highlights a dynamic market with clear winners and challenges. Two of the three luxury brands we analyzed today—Genesis and Lincoln—showed impressive growth, while Acura really struggled to maintain momentum.
These trends also showcased the evolving consumer preference as luxury SUVs and electrified vehicles lead in gaining sales. Looking forward to 2025, it will be interesting to see how automakers adapt quickly to shifting demand and intensify their focus on both innovation and customer satisfaction.
