General Motors Middle East has reported a 20% increase in sales in 2022 compared to the previous year, driven by the success of its three brands, Chevrolet, GMC, and Cadillac, which outperformed their segments and achieved record annual sales. The region’s growing demand for Chevrolet’s Captiva, Tahoe, and Suburban nameplates led to a 22% year-on-year growth for the brand in the UAE, while Kuwait registered Chevrolet’s best performance since 2015. GMC sales rose by 17% YoY, led by the popularity of its flagship Yukon model, which was buoyed by strong demand for its Denali and AT4 sub-brands. Cadillac also had its best calendar year sales since 2015, recording a 21% YoY increase across the Middle East.
The strong sales performance has been attributed to GM Middle East’s long-term strategy to transform its operations to a connected, electric, and autonomous future. The company’s vision for Zero Crashes, Zero Emissions, and Zero Congestion is guiding the development of infrastructure and technology necessary for this transition. In 2023, Cadillac Middle East plans to introduce a new range of electric vehicles, starting with the LYRIQ model.
On the aftersales front, GM Middle East has witnessed record growth in customer retention in 2022, reflecting customer confidence and trust in dealership capabilities in servicing and maintenance. The company’s Genuine and ACDelco service parts brand has seen high demand, as the company diversifies and grows its operations within the automotive after-sales and service industry.
General Motors is committed to working with private entities and government partners to roll out electric and autonomous vehicles and pioneering mobility solutions in support of local ventures. The company’s recent Q4 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, have enabled it to continue bringing innovative products to the market and reimagine customer experiences. The results were at the high-end of the company’s revised EBIT-adjusted guidance range.
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