* Chevrolet posts growth in emerging markets, sales up 3 percent outside North America
* Cadillac sales outside North America up 16.3 percent
DETROIT – Record-setting sales performance in GM’s Latin America, Africa and Middle East and Asia Pacific regions during the third quarter of 2008 helped General Motors sell more than 2.1 million vehicles globally during the third quarter 2008. Compared with the third quarter of 2007, GM’s total sales were down 11.4 percent, reflecting continuing economic pressures in the U.S. market, which pushed North America sales down 18.9 percent, and growing pressure in Europe, where sales were down 12.3 percent. Sales of 1.286 million vehicles outside the U.S. accounted for nearly 61 percent of GM’s total global sales volume compared with just over 56 percent a year ago.
GM sold 6.7 million vehicles in the first nine months of 2008. Sales outside of North America grew by 164,000 vehicles during the same period. On a year-over-year basis, GM total global sales were down 5.8 percent for the first nine months of 2008, again, largely reflecting the economic pressures of the U.S. and Western European markets.
GM Continues Growth in Emerging Markets
“The recent challenges in the global financial markets, including credit tightening and the drop in commodity prices, have negatively impacted market demand. However, our sales performance shows that we are continuing to take advantage of new emerging market opportunities and are meeting customer needs with fuel-efficient products that offer compelling design and great value,” Jonathan Browning, vice president, global sales, service and marketing, said today.
“Our sales performance during the third quarter saw increases by Chevrolet outside North America and Wuling and GM Daewoo regionally,” Browning added.
Chevrolet sales in Asia Pacific, the industry’s second-largest region, grew 5.3 percent compared with the third quarter a year ago. Chevrolet sales in China (up 4.3 percent) and India (up 4.9 percent) powered much of this growth. The Wuling brand continued strong growth in China with sales up 21.9 percent in the third quarter compared to the same period a year ago.
In the Latin America, Africa and Middle East region – a traditional Chevrolet stronghold – sales grew 3.4 percent compared with the third quarter 2007. Chevrolet accounted for 90 percent of GM’s third quarter sales in the region.
Chevrolet sales in Europe also contributed to the brand’s solid third-quarter results, growing 2.7 percent. Chevrolet is seeing strong growth in emerging markets including Eastern Europe. Chevrolet was up 6.2 percent for the first nine months of the year in Russia. In addition, Opel sales in Russia increased by 39 percent, while Saab increased 90.4 percent.
Chevrolet sales in North America were down 16.6 percent; however, GM added production capacity to satisfy the strong demand for the all-new Malibu sedan.
Sales of Cadillac outside of the United States grew 10.7 percent in the third quarter, supported by strong growth of the brand in Latin America, Africa and Middle East (up 10 percent) and Asia Pacific (up 39.2 percent). Cadillac sales in Europe were down 9.3 percent. In North America, Cadillac sales declined about 28 percent, largely reflecting the negative impact of the financing environment in the luxury vehicle market.