General Motors Middle East today announced a 20% growth in sales in 2022, when compared to 2021, as it lays the foundation for an all-electric sustainable future framed by its ambidextrous regional business strategy. These strong results were spearheaded by its subsequent brands’ consistent performances across the GCC and Levant.
GM Middle East’s long-term strategy for transforming its operations to a connected, electric and autonomous future is guided by its vision of a future with Zero Crashes, Zero Emissions and Zero Congestion, and founded on optimizing current operations to fund and establish the necessary infrastructure for ultimate success.
In 2022, the company leveraged several opportunities and proactively streamlined operations embodied by GM’s vast network of dealer partners, enabling a strong and effective response to demand and helping overcome industry challenges. Fueling growth across GM’s three vehicle brands, with segment beating performance in many key markets.
Deep diving into the brands themselves, Chevrolet, GMC, Cadillac outperformed their key segments and registered yearly record sales ranking among the best annual performances of the past decade. Growing GM’s total market share.
Chevrolet in the UAE enjoyed record numbers in 2022, marking the strongest sales since 2017, while Kuwait registered the brand’s strongest performance since 2015. Overall, YoY performance for the brand in the region grew by 22%, spearheaded by the Chevrolet Captiva, the Chevrolet Tahoe and Suburban nameplates also resonated well with the regional audience in 2022.
GMC annual sales grew by 17% in comparison to the previous year spearheaded by great strides of 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 offer a premium and capable formula tailored to an ever-younger customer base. This growth reflected consistently across markets in the region.
GM’s luxury brand, Cadillac recorded it highest calendar year sales since 2015, championed by the symbolic Escalade SUV, XT4 crossover and CT5 sports sedan which recorded their highest annual sales ever. Overall, Cadillac sales increased 21% year on year 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 rollout of an exciting new range of electric vehicles beginning with the stunning Cadillac LYRIQ, presenting customers with Cadillac’s take on luxury EV mobility.
On the aftersales front, enhancing customer satisfaction continues to be a top priority for GM Middle East as the company readies its teams toward a reimagined customer journey 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 brand saw high demand as the company consolidated new lines of business to cater to non-GM-brand service parts as it diversifies and grows its operations within the automotive after sales & service industry.
Jack Uppal, President & Managing Director, General Motors Africa & Middle East shared “The growth we have seen across our brand performance this past year, putting in place the groundwork to driving the future of mobility that we strongly believe in. It is a testament to our work to make our vision of a world with Zero Crashes, Zero Emissions and Zero Congestion a reality. As a team our commitment to our customers in the region remains unwavering. We will continue to work with private partners and governments across the Middle East, to drive forward a shared mission of zero crashes to make sure every driver gets home safe every day; zero emissions to leave our children a cleaner planet; and zero congestion to give our customers back their precious time. And we are confident that our pioneering pipeline of EVs, AVs and mobility solutions is set to actively contribute to achieving this vision.”
To meet its vision of Zero Crashes, Zero Emissions and Zero Congestion, 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 to pioneer the journey and reimagine customer experiences.
In recent weeks, General Motors global reported a fourth-quarter 2022 revenue of $43.1 billion, 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.