GM lowers 2008 China sales growth forecast

General Motors Corp has cut back its China sales growth forecast due to weakening stock markets and high fuel prices, the Wall Street Journal reported.

GM Asia-Pacific president Nick Reilly expects sales growth in China this year of between 11 pct and 12 pct, down from the 12-15 pct growth projected in March.

However, Reilly said he expects China's auto market to maintain 10-15 pct growth after this year for the next five years.

"I'm very confident that the medium- to long-term (outlook) of the Chinese car market is still very strong," he said.

GM's China sales rose 18.5 pct to 1.03 mln units in 2007.