Following GMC’s outstanding success during the 2023 year, the brand has announced plans to expand its reach to three new international markets, including Australia, New Zealand, and China. The first product set to launch for these three high-growth markets will be the Yukon full-size SUV. Sales are expected to start in China this year, while Australia and New Zealand will follow close behind, with the launch in 2025.
GMC International Expansion: Details
The new markets are expected to bolster the brand’s established operations in the U.S., Mexico, Canada, and the Middle East and appear to reflect the outstanding momentum and appeal GMC has seen throughout the globe. GMC closed out the 2023 year in the U.S. with an increase in retail sales of 6.5% over 2022, resulting in the best overall sales performance since 2017. A key player to this success has been the Sierra LD and HD nameplates, which have achieved their best combined year of sales on record and sixth consecutive year of segment share growth.
Production of the Hummer EV Pickup and SUV continues to ramp up as excitement and enthusiasm remain high for the all-electric super truck, which saw retail sales double from 2022 to 2023 (likely due to the increase in production). The brand also sold the highest annual volume of Denali (34%) and AT4 (19%) trims, driving record average transaction prices for GMC. In 2024, both trims will celebrate milestone anniversaries, with the Denali seeing its 25th year, while the AT4 trim will have reached its fifth year in the GMC lineup.
The announcement is not a surprise, but is nonetheless welcome, given the outstanding success that GMC has seen in North America and other international markets. It’ll give the likes of China, Australia, and New Zealand a chance to get their hands on the full-size luxury GMC Yukon SUV and potentially even more products in the future, depending on how successful the expansion is.