General Motors Corp. expected vehicle sales in its flagship venture in China to grow over a fifth in 2007 as it rolled out new models to attract buyers. GM that already makes the Buick Excelle, Regal and LaCROSSE at its venture with Shanghai Automotive Co., rolled out the higher-end Park Avenue models late today, targeting the country's business elite.

"We had a 26.5 percent increase (in sales) in the first quarter," Chris Gubbey, executive vice president of the Shanghai GM, told Reuters on the sidelines of the launch event. "For the full year, we probably expected to be in excess of 20 percent over last year." Sales for the Buick Park Avenue line, priced at between 498,800 yuan and 328,800 yuan ($64,550-$42,550), is estimated at roughly 6,000 unit for 2007, he added.

As competition heats up in the world's second largest auto market, industry players are increasingly replying on new models to push sales. GM planned to launch about 10 new or upgraded models this year, while its archrival Volkswagen AG (VOWG.DE) would introduce 12 to 14 new models by the end of the decade.

In 2006, the Detroit-based carmaker, that also operates a commercial vehicle venture in south China, sold 876,747 vehicles in China, up 31.8 percent from 2005. It expected to sell at least 15 percent more vehicles in the country this year, beating an estimated 10 to 15 percent expansion of the market, GM China president Kevin Wale said.

Source:佚名