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General Motors Corporation          Annual Report
                             2003




                                                    drive:
Contents
 2   Letter to Stockholders   44    Management’s Discussion and Analysis
 4   Financial Highlights     57    Independent Auditors’ Report
 8   Drive: Great products    58    Consolidated Financial Statements
18   Drive: Design            65    Notes to Consolidated Financial Statements
24   Drive: Markets           96    Board of Directors and Committees
32   Drive: Further           98    Officers and Operating Executives
38   Drive: Choices           IBC   General Information
42   Drive: Commitment
Here’s what’s new
     about GM’s strategy this year:
                 Nothing.

  Our 2003 plan is the same as 2002.
   We’re getting better, year by year.
    More new products than ever and
 the most exciting lineup in our history.
Working more as one global company than
       ever. More solid financially.
     And more determined than ever
             to be the best.

        Our drive remains strong.
We are never satisfied, never complacent;
     always moving, always forward.



                                       General Motors Corporation   1
General Motors Corporation
               Renaissance Center
               P.O. Box 300
               Detroit, MI 48265-3000
               www.gm.com




4000-AR-2003

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2003 Annual Report Cover and Contents

  • 1. General Motors Corporation Annual Report 2003 drive:
  • 2. Contents 2 Letter to Stockholders 44 Management’s Discussion and Analysis 4 Financial Highlights 57 Independent Auditors’ Report 8 Drive: Great products 58 Consolidated Financial Statements 18 Drive: Design 65 Notes to Consolidated Financial Statements 24 Drive: Markets 96 Board of Directors and Committees 32 Drive: Further 98 Officers and Operating Executives 38 Drive: Choices IBC General Information 42 Drive: Commitment
  • 3. Here’s what’s new about GM’s strategy this year: Nothing. Our 2003 plan is the same as 2002. We’re getting better, year by year. More new products than ever and the most exciting lineup in our history. Working more as one global company than ever. More solid financially. And more determined than ever to be the best. Our drive remains strong. We are never satisfied, never complacent; always moving, always forward. General Motors Corporation 1
  • 4. General Motors Corporation Renaissance Center P.O. Box 300 Detroit, MI 48265-3000 www.gm.com 4000-AR-2003