More at this LINKGM Eastern European volume of 318,245 units is 43 percent up, compared to 23 percent industry growth from January to September 2008
· Chevrolet grows 17 percent to 385,653 vehicles and 2.2 percent market share in total Europe
· Economic challenges heavily influence business in Western Europe, with GM volume down 10.7 percent in the region
· GM volume down 1.9 percent in total Europe, with sales of 1,620,619 vehicles
General Motors (GM) Eastern European sales reached a record of 318,245 vehicles from January to September 2008, with a market share of 10.4 percent, strongly outpacing industry growth in the region with a 43 percent increase in volume (versus 23 percent of the industry). GM total volume in all of Europe was down 1.9 percent with sales of 1,620,619 vehicles.
Chevrolet paced the increase with record sales of 385,653 vehicles, up 17 percent, with a market share of 2.2 percent in total Europe. GM’s Eastern Europe results helped offset tough market conditions in Western Europe, where volume was down 10.7 percent, to 1,148,535 vehicles with a 9.2 percent share.
“We are facing an unprecedented set of economic challenges due to the global economic crisis,” said Carl-Peter Forster, president of GM Europe. “The credit crisis and inflation from surging oil and commodities prices have seriously hurt consumer confidence. We’re doing everything that we can to manage this challenging period with a host of new products -- including the new Opel Insignia and the Chevrolet Cruze – and by managing our production and costs as tightly as possible.
“But we also need help from political leaders to turn the situation around. At the EU level, and within political leadership of individual countries, action must be taken to stimulate the economy, relieve the credit crunch, and restore consumer confidence,” added Forster.
“We’re building on two years of consecutive sales records and strong growth for our brands in Europe,” said Brent Dewar, GM Europe vice-president sales, marketing and aftersales. “We’re expanding the portfolio, differentiating the brands and leveraging our breadth of offerings to appeal to diverse customer groups and meet market requirements.”