GM Set New Sales Record in 2014

General Motors Co. reports global sales of 9.92 million vehicles last year, up 2% from the record it set in 2013.

GM's total places it third among major carmakers behind Toyota and Volkswagen Group, each with sales slightly above 10 million.

Demand for GM brands in China climbed 12% to a record 3.54 million vehicles in 2014. Sales in North America grew 6% to 3.41 million in 2014. Volume fell 10% to 1.26 million units in Europe and 15% to 878,100 in South America. Combined sales elsewhere declined nearly 7% to 838,000.

GM says it has established "good momentum" but declined to forecast sales for this year.