Automobile giant to employ ‘ambidextrous strategy’ focusing on core business and electric vehicle launches
General Motors is targeting double-digit growth this year after witnessing a strong end to 2020, which has continued into the current year.
Sajed Sbeih, managing director for commercial operations Africa and Middle East, told Arabian Business the company recorded 21 percent growth in Q4 2020 over the previous quarter, while sales of the GMC Sierra in January were “the best since 2016”.
He said: “2020 is behind us and for 2021 we are still going to continue to look at driving the business forward with an ambidextrous strategy and we’re going to go after a double digit growth this year.”
Sbeih said there were plenty positives to take from what he described as a “challenging” last 12 months for General Motors in the region, with the company buoyed by various launches during the year, including the Chevrolet Captiva, a compact crossover SUV, which was launched in April and saw 171 percent growth in sales in the nine months to the end of the year.
GM also launched the Chevrolet Tahoe, the GMC Yukon and the all-new Cadillac Escalades.
“We’re going to remain focused on growing our core business of the world class trucks,” said Sbeih, who revealed that full-size SUVs make up around 36 percent of the company’s business, while compact SUV sales are about 19 percent. “We’re going to continue to drive that forward,” he added.
GM’s “ambidextrous strategy” includes broadening its electric vehicle portfolio with the Bolt EUV and the Hummer EV both due to launch in the region this year.
“We believe the world is at an inflection in the mass adoption of electric vehicles and our goal is both to capture this moment in time and inspire both leaders and advocates and influencers, to join us and make a better world a reality,” said Sbeih.
“So we’re going to continue to accelerate the development of the technology and the services to help deliver that world for us with zero emissions, zero crashes and zero congestion.”
In January GM announced its two millionth sale since 2000, a Chevrolet Captiva, to a customer in Saudi Arabia – the kingdom makes up 50 percent of the company’s business.