"The stars in GM over the last few years have been China and Brazil, because of their market growth... and being places where the potential for growth is still greatest," he told reporters in Sao Paulo.

The company generated an $800 million profit on $16 billion in revenues in South America last year, with Brazil accounting for 65% of the activity, he said.

Worldwide net profit for the group was $4.7 billion.

GM sold one million cars to the region, representing 12% of its global sales.

GM's biggest markets, in order, are the United States, China and Brazil, Ardila said.

He forecast only a slight increase in South American sales this year, saying the outlook was tempered by the likelihood of regional currencies continuing to appreciate against the dollar and heightened competition from Asian manufacturers.

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