General Motors Latin America, Africa and Middle East (GM LAAM) region posted an all-time sales record in 2008, selling over 1.276 million vehicles, up 40,000 units over 2007, representing a 3.2 percent growth rate. In addition, LAAM’s market share increased to 17.1 percent for the year.
Maureen Kempston Darkes, GM group vice president and president of GM LAAM said, “We are pleased to post our fifth consecutive record sales year, with the Chevrolet brand continuing to lead the growth throughout the region.”
All-time yearly GM sales records were set in Argentina, Brazil, Chile, Ecuador, Paraguay, Peru, Uruguay, Egypt, Kenya, North Africa and Middle East markets in 2008. And, for the 2008 calendar year, market share gains were recorded in Ecuador, Paraguay, Peru, Uruguay, Egypt, Kenya, Israel, Middle East, North Africa, South Africa and Venezuela.
The North African market and Egypt were GM’s highest market gainers in 2008, growing 57 percent and 52 percent, respectively, both of which significantly out-paced the industry growth rate.
Despite a slowdown in the fourth quarter throughout the region due to the global economic crisis, the North African market posted all-time quarterly GM sales and market share records in Q4 2008. In addition, Ecuador, Peru and Egypt set fourth quarter sales records.
Chevrolet Corsa, Celta and Aveo remained as the top three sellers across the region in 2008, representing 41 percent of GM’s sales volume. Chevrolet represents 90 percent of GM sales in LAAM. Brazil represents the second largest market for Chevrolet outside the U.S., with sales of 549,000 in 2008.
In 2009, the Chevrolet brand will continue to play a key role as several new products, such as the Camaro, Cruze, Malibu, Traverse will be launched in the region.
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