The world's biggest car manufacturer, General Motors, has released its 2004 final quarter figures, which show global automotive sales rose by 4.3 per cent.

Worldwide production totalled 9.1 million units in 2004, up from 8.8 million in 2003, but there were clear distinctions between the various markets.

In China, GM said sales growth slowed in the second half of the year, after the government took a more stringent approach to lending, but GM China sold almost half a million vehicles in 2004, a gain of 27 per cent.

Improved results were also recorded in Thailand and India, with the Middle East also identified as a growth area.

However, net profits fell by 37 per cent, as the manufacturer cited growing healthcare costs and bigger losses from its European automotive operations as key problem areas.

GM pulled in $630 million between October and December, compared with $1 billion the same time a year earlier. Revenues rose by 4.7 per cent from $48.8 billion a year earlier to $51.2 billion.

Chairman and chief executive Rick Wagoner said: "GM reported solid overall results in 2004, despite challenging competitive conditions in many markets around the globe."

"And, our automotive operations recorded their second-highest vehicle-sales volume in history, with market-share gains in three out of four automotive regions last year," he added.

GM's total losses stood at $345 million - a significant jump from $66 million in 2003.