GM's share of market grows 35.2 pct in 2005
(AP)
Updated: 2006-01-05 15:58

But in July-September quarter, GM earned $176 million in Asia while losing US$1.6 billion in North America. In 2004, GM sold 4.7 million cars and trucks in the U.S. and 4.3 million elsewhere.

GM's sales figures also suggest an overall market recovery in China, where sales have started to pick up after slumping in the second quarter.

But with strong sales growth coming from small, cheaper cars, profits at major automakers are expected to shrink. Heightened competition is also forcing prices down, and GM this week announced a nearly 11 percent price cut on its Buick Regal and Espica models.