General Motors Middle East today announced a 20 per cent growth in sales figures in FY 2022 compared to 2021 as it heads towards an all-electric sustainable future. Its subsequent brands’ consistent performances across the GCC and Levant lead to these strong results.
General Motors and its sub-brands sales growth in FY 2022Cadillac, Chevrolet and GMC have outperformed their key segments and registered yearly record sales ranking among the best annual performances of the past decade which resulted in growing GM’s total market share.
Chevrolet UAE enjoyed record numbers in 2022, marking the best regional sales since 2017, while in Kuwait the brand registered the strongest performance since 2015. Overall, YoY (Year on Year) sales performance for the brand in the region grew by 22 per cent, spearheaded by the Chevrolet Captiva, the Chevrolet Tahoe and the Suburban nameplates also resonated well with the regional audience in 2022.
GMC's annual sales increased by 17 per cent in comparison to the previous year led by its Yukon flagship. The GMC Sierra also performed well, lifted by great appetite and reception of its new variants for the 2022 calendar year. GMC Yukon and Sierra’s growth were underpinned by strong demand for its sub-brands - Denali and AT4, each of which appeals to an ever-younger customer base.
GM's luxury brand, Cadillac recorded its highest sales since 2015, championed by the symbolic the Cadillac Escalade SUV, XT4 crossover and CT5 sports sedan which recorded their highest annual sales ever. Overall, Cadillac sales increased to 21 per cent across the Middle East, with some markets showing a strong resurgence to decade-besting annual sales numbers. Looking ahead to 2023, Cadillac Middle East will begin the rollout of a new electric vehicle range beginning with the Cadillac LYRIQ, which represents Cadillac's take on luxury EV mobility.
On the aftersales front, customer satisfaction continues to be a top priority for GM Middle East as the company reimagines customer journeys in anticipation of the arrival of connected electric vehicles. In 2022, the function witnessed record growth in customer retention compared to 2021, reflecting consumer confidence and trust in dealership capabilities with customer servicing and maintenance.
GM’s Genuine and ACDelco service parts brands saw high demand as the company now also expanded its business to cater to non-GM-brand service parts as it diversifies and grows its operations within the automotive after-sales and service industry.
Middle east – General Motors has a long-term goal of transforming its operations into a connected, electric, and autonomous future guided by its vision of a future with Zero Crashes, Zero Emissions and Zero Congestion. To meet this vision, GM is working with a diverse cross-section of stakeholders, be it private entities or government partners, to roll out electric vehicles, autonomous vehicles and pioneering mobility solutions in support of local ventures. Alongside public-private collaborations and a wider vision to elevate mobility technology, General Motors will continue to bring innovative products to the market.
In recent weeks, General Motors reported a fourth-quarter 2022 revenue of $43.1 billion globally, net income attributable to stockholders of $2.0 billion and Earnings before interest and tax (EBIT)-adjusted of $3.8 billion. GM’s full-year 2022 revenue was $156.7 billion, net income attributable to stockholders was $9.9 billion and EBIT-adjusted was a record $14.5 billion. Results were at the high end of the company's revised EBIT-adjusted guidance range.