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The 2024 NACTOY (North American Car, Truck and Utility Vehicle of the Year) awards were announced last Thursday. An independent jury of 50 automotive journalists determined the winners from the three finalists in each category (car, truck and utility vehicle). The list of finalists (initially announced in November) was again updated in December to replace Volvo EX30 with Hyundai Kona EV in the utility vehicle category.
Japan’s auto giant Toyota’s (TM - Free Report) Toyota Prius and Prius Prime were named as North American Car of the Year, beating the other two finalists — Honda Accord and Hyundai Ioniq 6. None of the three finalists in the car segment were fully fossil-fuel-powered vehicles, underscoring the fact that the auto industry is fast advancing toward an e-mobility future. This was the second time that TM secured a NACTOY award, the first being for second-generation Toyota Prius in 2004. Last year, Honda’s luxury brand Acura’s Integra model had won the Car of the Year award.
U.S. legacy automaker Ford (F - Free Report) took the Truck of the Year honor for its Ford Super Duty Truck, beating the other two finalists —Chevrolet Colorado and Chevrolet Silverado EV. This marks the company’s fourth consecutive NACTOY win in the truck category. Ford took home the North America Truck of the Year award for F-150 Lightning, Maverick and F-150 in 2023, 2022 and 2021, respectively. Ford now has a total of 16 NACTOY awards, solidifying its position as the most honored brand in the history of the awards.
South Korea-based Kia’s Kia EV9 claimed the Utility Vehicle of the Year, marking the second time Kia won a NACTOY award for its EV model. Last year, Kia EV6 was the winner in this category. It was the third time in five years that NACTOY presented Kia with the North American Utility Vehicle of the Year award. The other finalists in this segment were the Genesis Electrified GV70 and the Hyundai Kona/ Kona EV.It should be noted that all three finalists in the utility vehicle category were battery-powered.
EVs are disrupting the auto space with novel designs and technologically advanced features. Auto biggies are investing large sums of money to shift gears to electric. At the 2022 NACTOY awards, it was the ICE models that had made a clean sweep. While EV finalists made their way to the runners-up position, they could not get the trophy home. But the NACTOY 2023 awards were dominated by green vehicles. Two of the three NACTOY winners were EVs. At the NACTOY 2024 awards, Ford Super Duty Truck was the sole ICE win. EVs made up more than half of the finalists this year as well.
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Check Out the Winners of the 2024 NACTOY Awards
The 2024 NACTOY (North American Car, Truck and Utility Vehicle of the Year) awards were announced last Thursday. An independent jury of 50 automotive journalists determined the winners from the three finalists in each category (car, truck and utility vehicle). The list of finalists (initially announced in November) was again updated in December to replace Volvo EX30 with Hyundai Kona EV in the utility vehicle category.
Japan’s auto giant Toyota’s (TM - Free Report) Toyota Prius and Prius Prime were named as North American Car of the Year, beating the other two finalists — Honda Accord and Hyundai Ioniq 6. None of the three finalists in the car segment were fully fossil-fuel-powered vehicles, underscoring the fact that the auto industry is fast advancing toward an e-mobility future. This was the second time that TM secured a NACTOY award, the first being for second-generation Toyota Prius in 2004. Last year, Honda’s luxury brand Acura’s Integra model had won the Car of the Year award.
TM currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
U.S. legacy automaker Ford (F - Free Report) took the Truck of the Year honor for its Ford Super Duty Truck, beating the other two finalists —Chevrolet Colorado and Chevrolet Silverado EV. This marks the company’s fourth consecutive NACTOY win in the truck category. Ford took home the North America Truck of the Year award for F-150 Lightning, Maverick and F-150 in 2023, 2022 and 2021, respectively. Ford now has a total of 16 NACTOY awards, solidifying its position as the most honored brand in the history of the awards.
South Korea-based Kia’s Kia EV9 claimed the Utility Vehicle of the Year, marking the second time Kia won a NACTOY award for its EV model. Last year, Kia EV6 was the winner in this category. It was the third time in five years that NACTOY presented Kia with the North American Utility Vehicle of the Year award. The other finalists in this segment were the Genesis Electrified GV70 and the Hyundai Kona/ Kona EV.It should be noted that all three finalists in the utility vehicle category were battery-powered.
EVs are disrupting the auto space with novel designs and technologically advanced features. Auto biggies are investing large sums of money to shift gears to electric. At the 2022 NACTOY awards, it was the ICE models that had made a clean sweep. While EV finalists made their way to the runners-up position, they could not get the trophy home. But the NACTOY 2023 awards were dominated by green vehicles. Two of the three NACTOY winners were EVs. At the NACTOY 2024 awards, Ford Super Duty Truck was the sole ICE win. EVs made up more than half of the finalists this year as well.