GM on growth track.
MANAMA: General Motors (GM) maintained its overall Middle East market share for the first half of this year, but increased its share in key markets.
This was due to a raft of new product launches, aggressive tactical marketing campaigns and exceptional dealer performance in certain countries.
GM's market share grew in the UAE, Kuwait, Qatar and Jordan.
The UAE and Kuwait are second and third in market size after Saudi Arabia.
In the UAE, GM estimates that the total automotive market dropped about 49 per cent from January to the end of June.
GM sales fell about 44pc during the same period, therefore outperforming the UAE market by 5pc.
In Kuwait, GM estimates that the total automotive market dropped about 12pc from January to the end of June.
GM sales increased by about 9pc during the same period, therefore outperforming the market in Kuwait by 21pc.
In Qatar, GM estimates that the total automtive market dropped about 38pc from January to the end of June, while GM sales decreased by about 23pc during the same period. GM therefore outperformed the market in Qatar by 15pc.
The most significant gain in market share was in Jordan, where GM estimates that the total automotive market dropped about 13pc while GM sales increased by about 23pc, therefore outperforming the market in Jordan by 36pc.
This performance was in spite of challenges including the global financial crisis, low consumer confidence in the region, tightened lending and news surrounding the GM restructuring in the US.
The best-selling vehicles across the GM line up for the first half of the year included the Chevrolet Aveo, Spark and Tahoe along with the GMC Yukon, Cadillac CTS and Escalade and the Hummer H3.
"We are delighted to have outperformed the market in what has proved to be a very challenging year for everyone so far.," said GM Middle East president Mike Devereux. "Our increase in market share is testament to the quality vehicles we have in the market and the fantastic efforts our esteemed dealers made in providing our customers with attractive offers and excellent customer service."
So far this year, GM has successfully launched the Cadillac CTS-V, Cadillac Escalade Platinum, GMC Sierra Denali and Chevrolet Traverse, while further exciting products on track to arrive in dealer showrooms include the iconic Chevrolet Camaro in August and Chevrolet Cruze and Malibu in October.
The Cadillac SRX will arrive at dealers in November.
"The second half of the year is traditionally a busier sales season, especially as Ramadan falls in this period," Mr Devereux added.
"With exciting new products either already in the market place or on track to arrive in dealer showrooms in the next couple of months, GM is in a very strong position for when the market does pick up."
Copyright 2009 Gulf Daily News
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|Publication:||Gulf Daily News (Manama, Bahrain)|
|Date:||Aug 5, 2009|
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