The first quarter of 2024 has been eventful for the automotive industry, with many new models either being introduced or finding their footing in the resurgent market. With the turmoil of chip shortages and supply line obstructions beginning to pass, the wider automotive industry has been steadying itself and returning to a state of normality. By comparing 2024 quarter one (Q1) and 2023 Q1 data regarding the top five most sold vehicles, we can glimpse what the market of the future may look like and prepare to meet future car-buying needs.
F-Series
With the market resurgent, it’s no surprise that the top-selling model of Q1 2024 is the ever-popular Ford F-Series. These pickup trucks have always been popular, and have consistently topped the charts, having been number one in Q1 2023 as well. With manufacturing returning, we can expect the F-Series to continue to dominate not only the world of pickup trucks but automotive sales in general.
Chevy Silverado
Next up, we find the Chevy Silverado series of pickup trucks in second place for Q1 2024. The Silverado is similarly popular, but the current trend seems to favor the heavy-duty versions. Last year in Q1, the Silverado was also second, and now with the production finally catching up with demand, its position is expected to improve and solidify.
Toyota RAV4
In third for Q1 2024, and the first SUV in this list, is the Toyota RAV4. Drivers have always appreciated its versatility, and it looks like only more have joined, with the RAV4 rising up from the fifth most sold in Q1 2023. It will most likely remain a popular choice, having maintained and improved its position in the market since last year, with rising production numbers that will only lend to better performance. The third place Q1 2023 spot was held by the Ram series of pickup trucks, showing that SUVs can indeed outsell trucks.
Tesla Model Y
The Tesla Model Y, a relatively new vehicle introduced just as the pandemic upset the market, is next in the fourth selling spot. This all-electric mid-size crossover SUV originally dominated the top spot in Q1 2023 worldwide sales, but it was still number four in the United States. Whether this is because other vehicles are overtaking it in production or there isn’t enough consumer desire for electric vehicles remains to be seen, but its rank in the top five is still an impressive achievement.
Honda CR-V
Another compact SUV, the Honda CR-V, was the fifth-most sold vehicle of the first quarter of 2024. Whether drivers are impressed with its utility or fuel economy, they’ve increased their interest over time. The CR-V has outsold its Q1 2023 seventh place by nearly half, perhaps a trend that will continue for the rest of the year as it continues to prove itself against the other SUVs in the market.
As 2024 progresses, we will continue to see trends shift and models rise or fall on the rankings. Pickup trucks are retaining a top spot in the market, though the introduction of another SUV in place of a pickup truck in the top five is noteworthy. Perhaps as we see production continue to increase, pickup truck demand will finally be met, or the more economy-conscious drivers will turn to compact SUVs, electric vehicles, or sedans.
If you’re looking to keep up with the changes in the automotive market, trust the marketing professionals at Aronson Advertising to help you. Get in touch with us online or over the phone at (847) 297-1700.
