GENERAL MOTORS

[HarleyEarl]

GM Sales Rise in Latin America, Africa, Middle East (Update1)

Jan. 7 (Bloomberg) -- General Motors Corp., which is losing U.S. market share to Asian automakers, said sales rose 20 percent in Latin America, Africa and the Middle East in 2005, lifted by sales of Chevrolets.

Sales rose to more than 880,000 from 737,000 in 2004, the Detroit-based company said in a statement. The world's biggest automaker has about an 18 percent market share in those regions.

Sales of Chevrolet vehicles including the Aveo, Optra, Epica and Vivant jumped 83 percent last year in Latin America, Africa and the Middle East. GM will spend $600 million in those markets and introduce 26 new vehicles this year.

GM is seeking to end six years of sales declines in the U.S., its biggest market. The company will cut prices on cars and trucks representing about 90 percent of its U.S. volume, according to a person familiar with the plans.

The company yesterday said sales in its Asia Pacific region rose 20 percent to 1.065 million units last year, led by sales in China.

Shares of GM rose 28 cents to $20.80 yesterday in New York Stock Exchange composite trading. The stock is down 47 percent in the past 12 months.