General Motors Corp. (GM) said Thursday that its sales growth in Latin America, Africa and the Middle East slowed to 3.2% in 2008.

The emerging markets provide one of the few remaining profitable pockets for GM and rivals, but the U.S. company's expansion slowed dramatically from 19% a year earlier.

The slowdown provides an ominous sign that the global economic slump is making it harder for U.S and European auto makers to rely on emerging markets to offset severe weakness in their home regions.

For GM, the region was the only one of four to turn a profit in the third quarter of 2008, earning $514 million while the group's automotive operations posted a loss of $2.8 billion for the same period.

GM's major competitors in the regions, including Ford Motor Co. (F) and Volkswagen AG (VLKAY), have yet to announce full-year sales.

Emerging-market growth is expected to sputter more in 2009 as developing nations, many of which are heavily reliant on oil exports, are hit by declining commodities prices and a slowdown in global trade.

Forecasting firm IHS Global Insight predicts growth in most emerging markets this year will be roughly half what it was in 2007 and early 2008.

GM sold a record 1.276 million cars and trucks in its Latin America, Africa and Middle East region last year, adding 40,000 more sales. The North African market and Egypt provided the largest increases, up 57% and 52% respectively.

-By Sharon Terlep, 248-204-5532; sharon.terlep@dowjones.com.

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