The FINANCIAL — General Motors Latin America, Africa and Middle East (GM LAAM) region broke another record in Q2 2008 selling 346,100 vehicles, up 52,100 units over the same period in 2007.
GM's volume increase of nearly 18 percent for the quarter again exceeded the industry growth rate of 13 percent. In addition, GM's market share in the region climbed to 17.5 percent for the quarter, up .7 share points year-over-year.
Maureen Kempston Darkes, GM group vice president and president of GM LAAM said, "The strong performance of GM's global products in our markets, combined with our strong local manufacturing presence, is enabling us to grow our sales volume and market share faster than the industry in these emerging markets."
Brazil, Chile, Egypt and the North Africa markets posted all-time quarterly GM sales records. Egypt saw triple-digit growth of nearly 110 percent. Second quarter GM sales records were set by Argentina, Ecuador and the Middle East.
"Strong demand for our Chevrolet products, such as the Chevrolet Corsa, Celta and Aveo fueled our growth throughout the region," Kempston Darkes continued. Those vehicles continued as the top three sellers across the region in Q2 2008, representing 40 percent of GM sales.
For the first half of 2008, GM sold 670,100 units in the Latin America, Africa and Middle East region. This represents an increase of nearly 19 percent, or 105,700 units, year-over-year. GM's market share through June stands at 17.5 percent, up nearly a share point over the first half of 2007. Collectively, GM sales were up a total of 36 percent in Africa, 17 percent in South America and 7 percent in the Middle East.
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