DUBAI - General Motors is investing $70 million in its Middle East Parts Distribution Center located in the Jebel Ali Free Zone, Dubai.
The distribution center stocks and supplies GM replacement and service parts Chevrolet, Cadillac and GMC vehicles. It employs 150 office and warehouse staff. They deal with more than 1 million parts orders annually and ensure delivery of any required vehicle part within 48 hours, making the center one of the most efficient facilities of its kind in the world.
“This investment in the GM Middle East Parts Distribution Center further demonstrates that General Motors considers the Middle East to be a key global market,” said John Stadwick, president and managing director of GM Middle East Operations.
GM Middle East signed an agreement with DHL and the Jebel Ali Free Zone Authority to purchase the 40,300-square-meter facility for $10 million. It stocks more than 80,000 different parts with an estimated inventory value of $60 million.
The parts are sourced from more than 300 suppliers on five continents and distributed to 55 Chevrolet, Cadillac and GMC facilities across the Middle East; and 26 locations in Africa.
GM Middle East opened the parts distribution center in August 2003, and initially leased it from DHL. Today, it receives 3,000 container shipments by air and sea every year. The distribution facility benefits from its location in the Jebel Ali Free Zone and its proximity to Jebel Ali Port and the recently opened Dubai World Central Al Maktoum International Airport.
“We plan to grow our business in this region by making continued investments in our showrooms, service centers and training academies,” Stadwick said. “The purchase of the parts distribution center complements these investments and forms part of our commitment to provide all our customers in the Middle East with a world-class shopping, buying and ownership experience.”
The GM Middle East Parts Distribution Center by the numbers:
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM’s brands include Chevrolet and Cadillac, as well as Baojun, Buick, GMC, Holden, Isuzu, Jiefang, Opel, Vauxhall and Wuling. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.
In the Middle East since the 1920s, GM vehicle brands sold in the region are Cadillac, Chevrolet, and GMC supported by a unique set of customer-focused services. GM parts and accessories are sold under the GM Parts and ACDelco brands. The regional office in Dubai covers the company’s operations in Bahrain, Iraq, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria, UAE and Yemen. For more media material about GM in the Middle East, please visit http://media.gmarabia.com.
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]]>DETROIT – General Motors Co. (NYSE: GM) today announced 2011 calendar-year net income attributable to common stockholders of $7.6 billion, or $4.58 per fully diluted share, up from $4.7 billion, or $2.89 per fully diluted share, in 2010.
Revenue increased 11 percent to $150.3 billion, compared with $135.6 billion in 2010. Full-year earnings before interest and tax (EBIT) adjusted was $8.3 billion, compared with $7.0 billion in 2010.
“In our first full year as a public company, we grew the top and bottom lines, advanced our global market share and made strategic investments in our brands around the world,” said Dan Akerson, chairman and CEO. “We will build on these results as we bring more new cars, crossovers and trucks to market, and make GM a far more efficient global team. This includes reducing our break-even level in Europe and South America and driving higher revenues around the world.”
Overview (in billions except for per share amounts)
|
|
Q4 2010 |
Q4 2011 |
|
Full-year 2010 |
Full-year 2011 |
Revenue |
|
$36.9 |
$38.0 |
|
$135.6 |
$150.3 |
Net income attributable to common stockholders |
|
$0.5 |
$0.5 |
|
$4.7 |
$7.6 |
Earnings per share |
|
$0.31 |
$0.28 |
|
$2.89 |
$4.58 |
Impact of special items on EPS fully diluted |
|
$(0.21) |
$(0.11) |
|
$(0.14) |
$0.70 |
EBIT-adjusted |
|
$1.0 |
$1.1 |
|
$7.0 |
$8.3 |
Automotive net cash flow from operating activities |
|
($1.7) |
$1.2 |
|
$6.6 |
$7.4 |
Automotive |
|
($2.8) |
($0.9) |
|
$2.4 |
$1.2 |
Fourth Quarter Results
Revenue in the fourth quarter of 2011 increased 3 percent to $38.0 billion, compared with the fourth quarter of 2010. GM’s fourth quarter 2011 net income attributable to common stockholders was $0.5 billion, or $0.28 per fully diluted share, including a net loss from special items of $0.2 billion or $0.11 per fully diluted share.
In the fourth quarter of 2010, GM’s net income attributable to common stockholders was $0.5 billion, or $0.31 per fully diluted share, including a net loss from special items of $0.4 billion or $0.21 per fully diluted share.
EBIT-adjusted was $1.1 billion in the fourth quarter of 2011, compared with $1.0 billion in the fourth quarter of 2010. Fourth quarter EBIT-adjusted for 2011 includes the impact of restructuring charges of $0.3 billion.
GM’s fourth quarter 2011 special items include impairment charges related to goodwill and GM’s investment in Ally Financial, and gains related to the Canadian Health Care Trust (HCT) settlement, the reversal of deferred tax asset valuation allowances in Australia and the extinguishment of debt.
Regional Results
Cash Flow and Liquidity
For the fourth quarter of 2011, automotive cash flow from operating activities was $1.2 billion and automotive free cash flow was $(0.9) billion, which includes the previously announced $0.8 billion contribution to the HCT.
GM ended the year with strong total automotive liquidity of $37.5 billion compared with $33.5 billion in 2010. Automotive cash and marketable securities was $31.6 billion compared with $27.6 billion at the end of 2010.
U.S. Pension Update
GM’s U.S. defined benefit pension plans earned asset returns of 11.1 percent in 2011. They ended the year 88 percent funded, largely unchanged from 89 percent funded a year ago.
The company also announced today that it is taking further steps toward its goals of de-risking and fully funding its U.S. pension plans. Effective Sept. 30, 2012, GM will freeze its defined benefit pension plan for U.S. salaried employees, who instead will receive contributions to a defined contribution plan, or 401(k). This initiative will affect GM's U.S. salaried employees hired prior to Jan. 1, 2001. Salaried employees hired after that date are already covered by a defined contribution plan.
2012 Outlook
Looking forward, GM expects to increase its top-line revenue year-over-year in an expanding global automotive industry. In addition, GM expects continued pricing improvement with cost inflation well contained, while product mix and pension expense are expected to be unfavorable.
Capital spending in 2012 is expected to be in the range of $8 billion as the company continues to aggressively invest in new products and technologies.
“We are executing an aggressive product plan that will give customers around the world even more reasons to purchase a General Motors vehicle,” said Dan Ammann, senior vice president and CFO. “Behind the scenes, we are working hard to eliminate complexity and cost throughout the organization to increase margins in all of our regions, and return Europe and South America to profitability. Overall, we have made good progress and we have more work to do.”
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM’s brands include Chevrolet and Cadillac, as well as Baojun, Buick, GMC, Holden, Isuzu, Daewoo, Jiefang, Opel, Vauxhall and Wuling. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.
Forward-Looking Statements
In this press release and in related comments by our management, our use of the words “expect,” “anticipate,” “possible,” “potential,” “target,” “believe,” “commit,” “intend,” “continue,” “may,” “would,” “could,” “should,” “project,” “projected,” “positioned” or similar expressions is intended to identify forward-looking statements that represent our current judgment about possible future events. We believe these judgments are reasonable, but these statements are not guarantees of any events or financial results, and our actual results may differ materially due to a variety of important factors. Among other items, such factors might include: our ability to realize production efficiencies and to achieve reductions in costs as a result of our restructuring initiatives and labor modifications; our ability to maintain quality control over our vehicles and avoid material vehicle recalls; our ability to maintain adequate financing sources, including as required to fund our planned significant investment in new technology; the ability of our suppliers to timely deliver parts, components and systems; our ability to realize successful vehicle applications of new technology; and our ability to continue to attract new customers, particularly for our new products. GM's most recent annual report on Form 10-K provides information about these and other factors, which we may revise or supplement in future reports to the SEC.
George Kapitelli has been named as GM Holden’s new Chief Financial Officer, effective 1 March, 2012.
Mr Kapitelli, 45, began his career at Holden in 1987, and spent his early years as Finance Analyst and Costing Manager at Holden Engine Operations.
Mr Kapitelli undertook his first overseas assignment in Thailand in 1996, where he helped initiate the GM Thailand start-up program as Costing Manager, and concluded his assignment as the New Business Development Director.
His Thailand posting was followed by two subsequent senior Finance positions in GM Europe and GM Indonesia before Mr Kapitelli returned to Holden as Finance Director of Vehicle Sales, Service and Marketing (VSSM) in 2003, during the lead up to the Holden VE Commodore launch.
Mr Kapitelli has spent the past six years in senior executive roles in China as VSSM Finance Director of the Shanghai General Motors (SGM) joint venture in 2006 and Vice President and Chief Financial Officer of SAIC GM Wuling Automobile (SGMW) in 2009.
In addition to his significant experience in a number of international roles, Mr Kapitelli is a Certified Practicing Accountant and holds a Bachelor of Economics (Accounting Major) and a master’s degree in business administration from Deakin University. He is married with three children.
Mr Kapitelli will report to GM Holden Chairman and Managing Director Mike Devereux.
]]>Shanghai – General Motors sales in China in the first month of 2012 were up 25.3 percent from December 2011, giving GM its second-best January ever in China. The automaker and its joint ventures sold 246,654 vehicles nationwide, which was down 8.0 percent on an annual basis. They were impacted by three fewer shopping days at the beginning of 2012 as a result of the Lunar New Year holiday in January.
Domestic demand for Shanghai GM’s lineup of passenger cars during the first month of the year totaled 124,073 units. Sales in China of SAIC-GM-Wuling’s mini-vehicles and passenger cars totaled 119,948 units. FAW-GM, GM’s light-duty commercial vehicle joint venture, sold 2,433 vehicles in China.
Buick sales in China were up slightly year on year to 71,056 units. Demand for the original Excelle passenger car lineup – which set an annual sales record for all domestic passenger vehicle models in 2011 and was the top-selling passenger vehicle industry-wide in China in 2011 – was up 1.9 percent on an annual basis, reaching 28,680 units. Its siblings, the Excelle XT and GT, experienced demand growth of 21.1 percent to 19,787 units.
Chevrolet sales in China totaled 54,399 units. The brand was once again led by the Cruze sedan, which had sales of 22,711 units, and the New Sail small car family, which generated sales of 18,069 vehicles.
Cadillac sales maintained their growth trend, rising 18.1 percent year on year to 2,987 units in January. Leading the way was the SRX luxury utility vehicle, with sales of 2,132 units.
Wuling sales of 106,573 units in China were led by the Sunshine minivan, which ended 2011 as China’s best-selling vehicle for a ninth consecutive year. A total of 47,137 Sunshines were sold nationwide in January. In its first January on the market, the Baojun 630 – the initial model from the Baojun brand – generated demand of 9,006 units.
General Motors traces its roots back to 1908. GM has 11 joint ventures, two wholly owned foreign enterprises and more than 35,000 employees in China. GM and its joint ventures offer the broadest lineup of vehicles and brands among automakers in China. Passenger cars and commercial vehicles are sold under the Baojun, Buick, Cadillac, Chevrolet, Jiefang, Opel and Wuling brands. In 2011, GM sold more than 2.5 million vehicles in China. It has been the sales leader among global automakers in the market for seven consecutive years. More information on General Motors in China can be found at GM Media Online.
# # #
Media Contacts:
Irene Shen General Motors China (+86-21) 2898-7318 |
Tingting Jiang General Motors China (+86-21) 2898-7633 |
Rüsselsheim. Opel/Vauxhall CEO and General Motors Europe President, Karl-Friedrich Stracke, today announced another change to the Adam Opel AG Management Board.
The Opel Supervisory Board appointed Dr. Thomas Sedran (47) to lead the newly created Management Board position of Operations, Business Development and Corporate Strategies, effective April 1. He is also named Opel/Vauxhall Vice President for that function. To date, Sedran has been co-leading the European automotive practice at the global business-consulting firm AlixPartners, working from its office in Munich, Germany. In this position, he has worked closely with Opel/Vauxhall since 2009. At Opel/Vauxhall, Sedran will be responsible for developing and implementing business strategies for long-term profitable growth in Europe and beyond.
Karl-Friedrich Stracke: “I am looking forward to working with Thomas Sedran. He is a proven automotive expert who knows Opel/Vauxhall very well. He will be a key player as we develop profitable growth strategies for Europe and for export sales as well as collaboration and partnering strategies in the industry.”
Thomas Sedran has spent most of his career as a consultant at companies including Roland Berger and AlixPartners. As a consultant, he has been an automotive expert for almost 20 years. He has a Master of Business Administration from the University of Hohenheim, Germany and a Ph.D. from the Ludwig Maximilian University in Munich, Germany.
]]>Holden will introduce a new shift pattern at its vehicle manufacturing operations in South Australia to improve productivity and manage the impact of the high Australian dollar.
While most areas of Holden Vehicle Operations will continue to operate on two shifts, Holden will introduce a single shift in General Assembly which will maintain production volume, and reduce costs and production time per vehicle.
Holden will move to a new 60-second production cycle by May this year giving Holden the capability to produce up to 400 vehicles a day.
The new production schedule will also assist the line operators to better manage complexity and help improve build quality.
GM Holden Chairman and Managing Director, Mike Devereux, today said the General Assembly change was critical to ensure Holden remained globally competitive.
“Holden has set a very clear business strategy to grow sustainably, lower its cost base and make a small car in Elizabeth to ensure we are profitable on domestic production,” he said.
“Our results show what a success this has been for the industry. In 2011 Holden made around 90,000 vehicles, up more than 35 per cent or 24,000 units compared to the previous year, with the growth driven largely by the Cruze hatch and sedan.”
Mr Devereux said Holden would maintain current production volume with the single shift but the high dollar would limit further growth from exports in 2012.
“With these tough economic conditions it’s our obligation to our people, and those that invest with us, to build a sustainable business and to continuously improve productivity.
“At the current exchange rate we won’t be able to realise further growth in our export programs so the shift changes allow us to maintain production levels and do it more efficiently.”
Mr Devereux said the reconfiguration was designed to minimise impact on employees who have been advised of the changes being introduced.
“Holden currently draws on a small pool of fixed term contractors and casual labour to help manage peaks and troughs in production, and these will be gradually reduced over the next 12 months.
“No voluntary or forced redundancies for permanent Holden employees are expected as result of the shift changes,” he said.
]]>DETROIT – General Motors Co. (NYSE: GM) today reported total sales of 167,962 vehicles in the United States in January, down 6 percent compared with a very strong January 2011.
“Chevrolet drove our performance once again and sales of our fuel-efficient new cars were especially good,” and Don Johnson, vice president, U.S. Sales Operations. “The strength that the economy and the auto industry showed in the fourth quarter carried into January, so we believe the year is off to a good start.”
Chevrolet passenger car sales increased 13 percent. GM’s total passenger car sales increased 3 percent in January, led by a 30-percent increase in sales of fuel-efficient small and compact cars, which include the new Chevrolet Sonic, the consistently strong-selling Chevrolet Cruze and the new Buick Verano.
In addition, the Buick LaCrosse, which now offers the 36-mpg highway eAssist powertrain as standard equipment, posted a 6 percent year-over-year increase, and the Chevrolet Camaro was up 20 percent.
GM’s crossover sales decreased 18 percent and sales of trucks, which include full-size pickups, vans and SUVs, decreased 6 percent.
Retail deliveries declined 15 percent compared with the same month a year ago and accounted for 70 percent of GM sales.
Highlights |
Jan. 2012 Total Sales |
Total Change vs. Jan. 2011 |
Jan. 2012 Retail Sales vs. Jan. 2011 |
Jan. 2012 Retail Sales Change vs. Jan. 2011 |
Chevrolet |
123,864 |
(1.2%) |
78,189 |
(14.7%) |
GMC |
24,966 |
(9.7%) |
21,649 |
(13.7%) |
Buick |
10,208 |
(23.1%) |
9,521 |
(18.5%) |
Cadillac |
8,924 |
(29.1%) |
8,373 |
(22.0%) |
Total GM |
167,962 |
(6.1%) |
117,732 |
(15.4%) |
“In 2012, we will strengthen our position with more new products, an even better dealership experience and reinforce the disciplined ‘go to market’ strategy that helped us grow profitably in the United States in 2011,” said Johnson.
GM has an aggressive new product plan for 2012: Production of the new 2013 Buick Verano is ramping up. In January, the company began production of the 37-mpg 2013 Chevrolet Malibu Eco, with four-cylinder and turbo powertrains launching in the summer, about the same time the new 2013 Chevrolet Spark arrives in showrooms.
In late spring, Cadillac will launch its new XTS large sedan and in late summer, its new ATS luxury sports sedan. Late in 2012, Buick will launch the new Encore crossover, which made its debut at the North American International Auto Show.
At the Chicago Auto Show, GMC will introduce a new Acadia, which will go into production in late 2012. Other new products will be announced at major U.S. auto shows and other events throughout the year.
Inventory |
Units @ |
Days Supply (selling days adjusted) |
Units @ |
Days Supply (selling days adjusted) |
All Vehicles |
583,407 |
67 |
619,455 |
89 |
Full-size Pickups |
181,070 |
73 |
188,568 |
119 |
Industry Sales |
Dec. 2011 SAAR |
Jan. 2012 SAAR (est.) |
Full Year 2012 |
Light Vehicles |
13.5 million |
13.5 million |
13.5 million – 14.0 million |
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM’s brands include Chevrolet and Cadillac, as well as Baojun, Buick, GMC, Holden, Isuzu, Jiefang, Opel, Vauxhall and Wuling. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.
Forward-Looking Statements
In this press release and in related comments by our management, our use of the words “expect,” “anticipate,” “possible,” “potential,” “target,” “believe,” “commit,” “intend,” “continue,” “may,” “would,” “could,” “should,” “project,” “projected,” “positioned” or similar expressions is intended to identify forward-looking statements that represent our current judgment about possible future events. We believe these judgments are reasonable, but these statements are not guarantees of any events or financial results, and our actual results may differ materially due to a variety of important factors. Among other items, such factors might include: our ability to realize production efficiencies and to achieve reductions in costs as a result of our restructuring initiatives and labor modifications; our ability to maintain quality control over our vehicles and avoid material vehicle recalls; our ability to maintain adequate liquidity and financing sources and an appropriate level of debt, including as required to fund our planned significant investment in new technology; the ability of our suppliers to timely deliver parts, components and systems; our ability to realize successful vehicle applications of new technology; and our ability to continue to attract new customers, particularly for our new products. GM's most recent annual report on Form 10-K and quarterly reports on Form 10-Q provides information about these and other factors, which we may revise or supplement in future reports to the SEC.
]]>Rüsselsheim. Opel/Vauxhall CEO and General Motors Europe President, Karl-Friedrich Stracke, today announced a change to the Adam Opel AG Management Board.
Effective February 1, the Supervisory Board has named Johan Willems (51) Management Board member in charge of Communications. In his role as the new head of Opel/Vauxhall Communications, he succeeds Dr. Susanne Wegerhoff who has elected to leave the company. In this position, Willems, who is currently Vice President, Communications, for GM International Operations based in Shanghai, China, will be responsible for all Product, Brand, Corporate and Internal Communications at Opel/Vauxhall in Europe.
Supervisory Board Chairman Stephen J. Girsky and Wolfgang Schäfer-Klug who represents the employees and who was elected today as the new Supervisory Board Deputy Chairman, are united in their assessment: “This new appointment complements and further strengthens the Management Board and the company overall. Both, shareholder representatives and employee representatives on the Supervisory Board are in agreement that Opel has to become profitable, even in times of tough economic headwinds. The parties are jointly discussing the strategy and will keep employees and the public informed. Thanks to its excellent model range with six new product launches in 2012, Opel/Vauxhall is confident that it can build on its success in the marketplace.”
Opel/Vauxhall CEO Stracke added: “I’m very much looking forward to working with Johan Willems. He joins Opel/Vauxhall as a highly seasoned Communications professional with great international experience. He knows the brand and the European business environment inside out, and he will help us to put even more focus on Opel/Vauxhall’s future growth. Further, I would like to thank Dr. Susanne Wegerhoff for her contribution in the past years. I wish her well in her future endeavors”.
In addition, GM has named Mary Barra, GM Senior Vice President, Global Product Development, as a member of the Opel Supervisory Board. At GM, Barra is responsible for global Design, Engineering and Program Management. She succeeds Walter Borst on the Opel Supervisory Board. Following the recent appointments of GM Vice Chairman, Stephen J. Girsky, as the Chairman of the Opel Supervisory Board, as well as Daniel Ammann, GM CFO, and Tim E. Lee, President GM International Operations, as regular members of the Opel Supervisory Board, this new appointment further demonstrates GM’s support for Opel/Vauxhall and commitment to Europe.
Johan Willems has already had a long career with Opel/Vauxhall and GM. He joined Opel Belgium in Antwerp in 1992. Between 1996 and 2007, he was in charge of Opel/Vauxhall and GM Europe Product & Brand Communications, and to that extent worked at the Opel headquarters in Rüsselsheim for several years. Prior to his appointment as the GM International Communications Vice President in 2009, Willems was Director, Global Environmental and Advanced Propulsion Communications at GM’s headquarters in Detroit. He is a Belgian national and speaks fluently Flemish, French, German and English. He started his career as an automotive journalist in Belgium.
Rüsselsheim. Opel/Vauxhall CEO and General Motors Europe President, Karl-Friedrich Stracke, today announced a change to the Adam Opel AG Management Board.
Effective February 1, the Supervisory Board has named Johan Willems (51) Management Board member in charge of Communications. In his role as the new head of Opel/Vauxhall Communications, he succeeds Dr. Susanne Wegerhoff who has elected to leave the company. In this position, Willems, who is currently Vice President, Communications, for GM International Operations based in Shanghai, China, will be responsible for all Product, Brand, Corporate and Internal Communications at Opel/Vauxhall in Europe.
Supervisory Board Chairman Stephen J. Girsky and Wolfgang Schäfer-Klug who represents the employees and who was elected today as the new Supervisory Board Deputy Chairman, are united in their assessment: “This new appointment complements and further strengthens the Management Board and the company overall. Both, shareholder representatives and employee representatives on the Supervisory Board are in agreement that Opel has to become profitable, even in times of tough economic headwinds. The parties are jointly discussing the strategy and will keep employees and the public informed. Thanks to its excellent model range with six new product launches in 2012, Opel/Vauxhall is confident that it can build on its success in the marketplace.”
Opel/Vauxhall CEO Stracke added: “I’m very much looking forward to working with Johan Willems. He joins Opel/Vauxhall as a highly seasoned Communications professional with great international experience. He knows the brand and the European business environment inside out, and he will help us to put even more focus on Opel/Vauxhall’s future growth. Further, I would like to thank Dr. Susanne Wegerhoff for her contribution in the past years. I wish her well in her future endeavors”.
In addition, GM has named Mary Barra, GM Senior Vice President, Global Product Development, as a member of the Opel Supervisory Board. At GM, Barra is responsible for global Design, Engineering and Program Management. She succeeds Walter Borst on the Opel Supervisory Board. Following the recent appointments of GM Vice Chairman, Stephen J. Girsky, as the Chairman of the Opel Supervisory Board, as well as Daniel Ammann, GM CFO, and Tim E. Lee, President GM International Operations, as regular members of the Opel Supervisory Board, this new appointment further demonstrates GM’s support for Opel/Vauxhall and commitment to Europe.
Johan Willems has already had a long career with Opel/Vauxhall and GM. He joined Opel Belgium in Antwerp in 1992. Between 1996 and 2007, he was in charge of Opel/Vauxhall and GM Europe Product & Brand Communications, and to that extent worked at the Opel headquarters in Rüsselsheim for several years. Prior to his appointment as the GM International Communications Vice President in 2009, Willems was Director, Global Environmental and Advanced Propulsion Communications at GM’s headquarters in Detroit. He is a Belgian national and speaks fluently Flemish, French, German and English. He started his career as an automotive journalist in Belgium.
DETROIT – General Motors has awarded its global media operations account to Carat, part of the specialist media and digital group Aegis Media, after an extensive review of the company’s global marketing operations. The account carries responsibility for most of GMs global planning and buying operations for consumer-facing media, including broadcast, digital and social media.
“We wanted a media agency partner with the sophistication to leverage global marketing opportunities,” said Joel Ewanick, GM vice president and global chief marketing officer. “Carat has an innovative approach to drive significant marketing value and their service model has been tailored to align well with our global and regional brands. They are uniquely positioned to help us form strong media partnerships and drive significant global efficiencies.”
Carat will immediately begin to transition responsibility for GM’s media operations in most global regions, with the exception of China, India and Brazil, where these activities will continue to be managed by agencies specific to those countries.
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM’s brands include Chevrolet and Cadillac, as well as Baojun, Buick, GMC, Holden, Isuzu, Jiefang, Opel, Vauxhall and Wuling. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.
]]>