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Tuesday, May 30, 2023

GM Middle East sees 20% sales growth in 2022

GM Middle East has announced a 20% sales increase in 2022 compared to 2021, laying the foundation for an all-electric sustainable future under its dual regional business strategy. These strong results were supported by the consistent performance of its successor brands in the GCC and Levant.

GM Middle East’s long-term strategy to transform its operations into a connected, electric and autonomous future is guided by its vision of a zero-collision, zero-emissions and zero-congestion future, and builds on optimizing current operations to fund and build the necessary infrastructure for ultimate success.

In 2022, the company aggressively streamlined operations by leveraging multiple opportunities presented by GM’s vast network of dealer partners, enabling a strong and effective response to demand and helping overcome industry challenges. Driving the growth of GM’s three major auto brands, it performed well in many key market segments.

sales record

Digging deeper into the brands themselves, Chevrolet, GMC, Cadillac outperformed their key segments and posted annual sales records for the best annual performances of the past decade. GM’s total market share continues to grow.

Chevrolet sales in the UAE hit an all-time high in 2022, the strongest since 2017, while Kuwait posted the brand’s strongest performance since 2015. Overall, the brand is up 22 percent year-over-year in the region, with the Chevrolet Captiva, Chevrolet Tahoe and Suburban nameplates also resonating with regional audiences in 2022.

GMC’s annual sales rose 17 percent compared to the previous year, thanks to a huge improvement at its flagship Yukon store. The GMC Sierra also performed well, thanks to the huge demand and acceptance of its new model for the 2022 calendar year. GMC Yukon and Sierra’s growth was fueled by strong demand for their sub-brands; Denali and AT4, each offering premium and powerful formulations tailored to an increasingly younger customer base. This growth is reflected in various markets in the region.

GM’s luxury brand, Cadillac, posted its highest calendar-year sales since 2015, led by the iconic Escalade SUV, XT4 crossover and CT5 sports sedan, which posted their best annual sales ever. Overall, Cadillac’s sales across the Middle East rose 21 percent year-over-year, with some markets showing strong recovery, notching its best annual sales in a decade.

cadillac electric car

Looking ahead to 2023, Cadillac Middle East will begin rolling out an exciting new line of electric vehicles, starting with the stunning Cadillac LYRIQ, showing customers Cadillac’s take on luxury electric vehicles.

Improving customer satisfaction remains a top priority for GM Middle East after the sale, as the company prepares its team to reimagine the customer journey in anticipation of the arrival of connected electric vehicles.

The function achieved a record increase in customer retention in 2022 compared to 2021, reflecting consumer confidence and trust in dealerships’ capabilities in customer service and maintenance. General Motors’ Genuine and ACDelco service parts brands are seeing high demand as the company integrates new business lines to cater to non-GM branded service parts as it diversifies and grows in the automotive aftermarket industry.

the future of mobility

Jack Uppal, President and Managing Director, GM Africa and Middle East, said: “We have seen growth in our brand performance over the past year, laying the groundwork to drive the future of mobility we believe in. This is a testament to our commitment to zero collisions. , zero-emissions and zero-congestion world. As a team, our commitment to our customers in the region remains unwavering. We will continue to work with private partners and governments in the Middle East to drive a shared vision of zero accidents. mission, to ensure every driver gets home safely every day; zero emissions, to leave our children with a cleaner planet; and zero congestion, to save our customers valuable time. We believe that our groundbreaking electric vehicles , driverless cars and a pipeline of mobility solutions will contribute positively to realizing this vision.”

To realize its vision of zero crashes, zero emissions and zero congestion, GM is working with a variety of stakeholders—whether private entities or government partners—to introduce electric vehicles, autonomous vehicles and groundbreaking mobility solutions to Support local businesses.

In addition to public-private partnerships and a broader vision to advance mobility, GM will continue to bring innovative products to market that pioneer the journey and reimagine the customer experience.

GM Global

In recent weeks, GM Worldwide reported fourth-quarter 2022 revenue of $43.1 billion, net income attributable to shareholders of $2 billion, and adjusted earnings before interest and taxes (EBIT) of $3.8 billion. GM’s full-year 2022 revenue will be $156.7 billion, net income attributable to shareholders will be $9.9 billion, and adjusted earnings before interest and taxes will be a record $14.5 billion. The results were at the high end of the company’s revised EBIT adjusted guidance range. — trade arab news agency

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