Jan. 9, 2007 (China Knowledge) – General Motors (GM) said Monday its sales in China's booming car market grew by 32% in 2006.

A total of 876,747 vehicles were sold in China last year, up about 208,000 units from 2005. GM added that sales of its flagship Buick brand grew by 24.9% to 304,230 units. Kevin Wale, president of GM China, said that sales have continued to exceed expectations due to unprecedented consumer demand for passenger cars. According to the China Association of Automobile Manufacturers, an industry group, total vehicle sales this year are expected to rise by 15% to eight million, up from seven million in 2006.

GM, which set up its first Chinese venture with a US$750 million factory in Shanghai in 1998, now has five joint venture assembly plants that make nearly all GM vehicles sold in the country. To expand its presence in the country, GM intends to invest up to US$3 billion in China by 2007.