GM expected China total auto sales to increase to 8.4 mln units'07

General Motors Corp. expected that China's total automobile sales this year will increase to 8.4 million units, while in 2006 7.4 million vehicles were sold last year.

Kevin Wale, president of General Motors China said Tuesday, the average price of auto in China market dropped by 5% in the first quarter of this year over a year earlier. This reflects the rapid growth and fierce price competition of China auto market.

Wale said at the briefing session held in Shanghai, since 2004, auto prices have been declining at an average annual rate of 7%. While the annual growth rate of auto consuming demand is about 15%.