“We have been actively working on what we can do from a South America’s perspective specifically focusing in Brazil, and you’ll see us take even additional actions there because it’s just not acceptable the performance that we have right now,” the GM CEO explained during the recent call. “So it’s an area of key focus.”
Traditionally, General Motors has been the best-selling automaker in Brazil, with Chevrolet now recognized as the best-selling automotive brand in the market. Back in 2019, Chevrolet Brazil sales increased 10 percent, up to 475,684 units for the year. In fact, 2019 brought the brand’s highest sales volume in Brazil over the last four years, with the impressive sales performance in 2019 propelled largely by the continuing success of the Chevrolet Onix, which delivered record-setting results following the introduction of the all-new second-generation model.
Nevertheless, the first quarter of 2020 saw GM post a $400 million loss for GM International, which includes GM’s operations in every market outside North America and China. That means those numbers include GM South America, of which GM Brazil is a part. Brazil is South America’s biggest market.
GM said that for the first quarter of 2020, GM International had strong year-over-year performance thanks to cost, vehicle mix, and price favorability that was more than offset by the impact of the COVID-19 pandemic and foreign exchange pressures.
Ultimately, Mary Barra singled out Brazil during the call. The GM CEO did not elaborate how General Motors would bring a new focus to the Brazilian market, but nevertheless, we’ll keep an eye out to see how this story develops, so make sure to subscribe to GM Authority for ongoing GM news coverage.