2. Forward Looking Statements
In this presentation and in related comments by our management, our use of the words “expect,”
“anticipate,” “estimate,” “goal,” “target,” “believe,” “improve,” “intend,” “potential,” “continue,” “designed,”
“opportunity,” “risk,” “may,” “would,” “could,” “should” or similar expressions is intended to identify forward-
looking statements that represent our current judgment about possible future events. We believe these
judgments are reasonable, but these statements are not guarantees of any events or financial results,
and our actual results may differ materially due to a variety of important factors. Such factors include,
among others: our ability to realize production efficiencies, to achieve reductions in costs and to
implement capital expenditures at levels and times planned by management; market acceptance of our
products; shortages of and price increases for fuel; significant changes in the competitive environment
and the effect of competition in our markets, including on our pricing policies; our ability to maintain
adequate liquidity and financing sources and an appropriate level of debt; labor strikes or work stoppages
at our facilities or at our key suppliers; financial difficulties of our key suppliers; adoption of new laws or
changes in existing laws that may affect the production, licensing, distribution, cost or sale of our
products; the final results of investigations and inquiries by the SEC; court approval of the settlement
agreement with the UAW and UAW retirees related to the 2007 National Agreement; satisfaction of the
conditions to the effectiveness of the post-retirement healthcare benefit plan contemplated by the 2007
National Agreement; changes in economic conditions, commodity prices, currency exchange rates or
political stability in the markets in which we operate; possible downgrades for GMAC or ResCap by rating
agencies; GMAC’s inability to maintain adequate financing sources for its capital needs; and recent
developments in the residential mortgage market, especially in the nonprime sector.
The most recent reports on SEC Forms 10-K, 10-Q and 8-K filed by us or GMAC provide information
about these and other factors, which may be revised or supplemented in future reports to the SEC on
those forms.
1
3. First Quarter Operational Highlights
• Global market share of 12.5%, down 0.5 p.p. vs. Q1 2007
• Record GM sales in 3 of 4 regions driven by emerging
markets growth
• Total automotive revenue of $42.1B, about flat as decline
in North America offset growth in all other regions
• Improved adjusted automotive earnings before tax
– Unfavorably impacted by American Axle strike, but favorable
offsets in commodity hedging and foreign exchange
• GMNA operations showed continued cost performance
– Approximately $0.5B of year-on-year structural cost savings
related to manufacturing and people cost
– Material costs lower despite significant commodity headwinds
• Q1 gross automotive liquidity of $23.9B
2
4. American Axle Strike
• Through end of Q1, GMNA incurred production losses
related to American Axle strike of approximately 100k units
– Majority of impact is to full-size pickups and utilities, although also
impact full-size vans and midsize trucks
– Q1 financial impact of approximately $0.8B EBT
• To date, strike has had minimal impact on GM’s ability to
meet customer demands
• GM will continue to proactively manage schedules across
plants to maintain production to the extent possible
3
5. First Quarter Financial Highlights
• GAAP net loss of $(3.3)B, $(5.74) EPS
• Adjusted automotive earnings before tax (EBT) of $0.4B,
up $0.2B vs. Q1 2007 (excluding Allison results)
• Adjusted net loss of $(350) million, $(0.62) EPS, excluding
special items
• Adjusted GMAC results recognized by GM of $(0.3)B
• Adjusted automotive operating cash flow (OCF) of $(3.6)B
• Q1 gross automotive liquidity of $23.9B
4
6. First Quarter Adjusted Results
2008 F/(U)
($ Millions) 2007 2008 2007
GMNA $ (269) $ (611) $ (342)
GME 61 198 137
GMLAAM 254 517 263
GMAP 192 286 94
Auto Eliminations (7) 2 9
Total Auto Earnings Before Tax 231 392 161
GMAC Earnings Before Tax (134) (276) (142)
Corp. Other Earnings Before tax (155) (207) (52)
Total Earnings Before Tax/(Loss) (58) (91) (33)
Taxes 48 (259) (307)
Total Net Income/(Loss) from Cont. Ops. (10) (350) (340)
Discontinued Ops. - Allison Transmission 104 - (104)
Total GM Net Income/(Loss) 94 (350) (444)
EPS from Cont. Ops $ (0.01) $ (0.62) $ (0.61)
EPS from Disc. Ops 0.18 - $ (0.18)
Total EPS (Basic) $ 0.17 $ (0.62) $ (0.79)
Total EPS (Diluted) $ 0.17 $ (0.62) $ (0.79)
Worldwide Production (000) 2,340 2,233 (107)
Global Market Share 13.0% 12.5% (0.5) p.p.
Refer to Supplemental Charts for reconciliation to GAAP figures 5
7. GMNA First Quarter Adjusted Results
2008 F/(U)
($ Millions) 2007 2008 2007
Revenue $28,057 $24,543 ($3,514)
Earnings Before Tax/(Loss) (269) (611) (342)
Earnings Before Tax Margin (1.0)% (2.5)% (1.5) p.p.
North America:
- Production Volume (000) 1,063 885 (178)
- Market Share 22.5% 21.7% (0.8) p.p.
United States:
- Industry SAAR (Mil.) 16.9 15.6 (1.3)
- Market Share 22.8% 22.1% (0.7) p.p.
- Retail/Fleet Mix - % Fleet 25.5% 26.7% (1.2) p.p.
- Dealer Inventory (000) 1,079 875 204
2007 excludes results from Allison Transmission, recorded as Discontinued Operations 6
8. GMNA Vehicle Revenue Per Unit
$23,000
Calendar Year First Quarter
$22,000
21,487 21,575
Net Revenue
Gross Revenue less
$21,000 Sales Incentives
21,072
$20,000 20,189
20,008
19,417 19,495
Memo:
19,425 Q4 ’07 $21,915
$19,000 19,160 Q3 ’07 $21,605
18,938 Q2 ‘07 $21,375
$18,000
CY '03 CY '04 CY '05 CY '06 CY '07 Q1 '04 Q1 '05 Q1 '06 Q1 '07 Q1 '08
Vehicle revenue per unit excludes items such as daily rental accounting impact, Service Parts, OnStar, other outside sales
Adjusted to remove Allison. Refer to Supplemental Charts for reconciliation to GAAP figures 7
9. GMNA Adjusted EBT – 2008 vs. 2007
$ Billions – Continuing Operations Only Q1
2007 Earnings Before Tax $(0.3) (0.4) U.S. Industry
(0.4) U.S. dealer stock
(0.2) U.S. retail share
Volume (1.1) (0.1) Daily rent reduction
Mix (0.1) (0.4) U.S. (primarily trucks)
(0.1) Canada
Price (0.5)
0.3 Material performance
Net Material 0.1 (0.2) Program majors
Pension / OPEB / Manufacturing 0.5 0.4 Manufacturing/attrition
0.1 Pension/OPEB
Hedging / Exchange 0.8
0.6 Commodity hedging
0.2 Exchange
2008 Earnings Before Tax $(0.6)
Memo: Impact of lost units from American Axle strike approximately $(0.8)B EBT
2007 excludes results from Allison Transmission, recorded as Discontinued Operations 8
10. GM U.S. Dealer Inventory Trend
Industry SAAR GM U.S. Dealer Inventory
19.0 1,200
18.5 1,150
GM U.S. Dealer Inventory (000)
U.S. Industry SAAR (Millions)
18.0 1,100
17.5 1,050
17.0 1,000
16.5 950
16.0 900
15.5 850
15.0 800
Q1 06 Q1 07 Q1 08
9
11. Overview of Other Regions
• $1B of adjusted automotive EBT generated in other regions
• GM automotive revenue up +20% outside North America
on unit sales records in all overseas regions
– 48% of global auto revenue generated in GME / GMLAAM / GMAP
– 64% of unit sales generated outside the U.S.
• GM share of 9.6% outside GMNA, up 0.1 p.p. vs. Q1 2007
• GME revenue up 17% and adjusted EBT up $137 million
• GMLAAM revenue up by 33% and EBT doubled on
continued strong industry growth and GM share gains
• GMAP revenue and EBT up strongly due to volume growth
10
12. Emerging Markets Growth Trends
Industry Industry
Growth GM Share GM Share Growth Outlook
Q1 2008 Q1 2008 vs. Q1 2007 2007 - 2012
Brazil 31% 20.9% 0.7 p.p. 17%
Russia 37% 12.1% 2.8 p.p. 40%
India 7% 3.1% 1.0 p.p. 86%
China 17% 12.8% (1.2) p.p. 67%
Total Emerging 17% 12.2% 0.1 p.p. 41%
11
13. GME First Quarter Adjusted Results
2008 F/(U)
($ Millions) 2007 2008 2007
Revenue $8,471 $9,909 $1,438
Earnings Before Tax/(Loss) 61 198 137
Earnings Before Tax Margin 0.7% 2.0% 1.3 p.p.
Total Europe:
- Production Volume (000) 511 493 (18)
- Industry SAAR (Mil.) 22.1 23.9 1.8
- GM Total Deliveries (000) 554 572 18
- Market Share 9.7% 9.6% (0.1) p.p.
Germany:
- Industry SAAR (Mil.) 3.4 3.7 0.3
- Market Share 10.0% 9.3% (0.7) p.p.
UK:
- Industry SAAR (Mil.) 2.8 3.0 0.2
- Market Share 14.9% 14.8% (0.1) p.p.
Russia:
- Industry SAAR (Mil.) 2.4 3.3 0.9
- Market Share 9.3% 12.1% 2.8 p.p.
12
14. GMLAAM First Quarter Adjusted Results
2008 F/(U)
($ Millions) 2007 2008 2007
Revenue $3,577 $4,763 $1,186
Earnings Before Tax/(Loss) 254 517 263
Earnings Before Tax Margin 7.1% 10.9% 3.8 p.p.
Total LAAM:
- Production Volume (000) 222 243 21
- Industry SAAR (Mil.) 6.7 7.5 0.8
- GM Total Deliveries (000) 270 323 53
- Market Share 16.7% 17.9% 1.2 p.p.
Brazil:
- Industry SAAR (Mil.) 2.1 2.8 0.7
- Market Share 20.2% 20.9% 0.7 p.p.
ANDEAN Markets
- Industry SAAR (Mil.) 1.0 0.9 (0.1)
- Market Share 30.5% 33.0% 2.5 p.p.
13
15. GMAP First Quarter Adjusted Results
2008 F/(U)
($ Millions) 2007 2008 2007
Revenue $4,568 $5,477 $909
Pre-Tax Income/(Loss) 143 202 59
China JVs Equity Income 127 134 7
Minority Interest (78) (50) 28
Earnings Before Tax/(Loss) 192 286 94
Earnings Before Tax Margin 4.2% 5.2% 1.0 p.p.
Total Asia Pacific:
- Industry SAAR (Mil.) 20.5 22.5 2.0
- GM Total Deliveries (000) 388 411 23
- Market Share 7.2% 7.0% (0.2) p.p.
China:
- Industry SAAR (Mil.) 8.3 9.8 1.5
- Market Share 14.0% 12.8% (1.2) p.p.
Australia:
- Industry SAAR (Mil.) 1.1 1.1 0.0
- Market Share 15.0% 13.1% (1.9) p.p.
GM-DAT:
- Production (Complete Build Units) 217 221 4
14
16. GMAC First Quarter Business Line Results
2008 F/(U)
($ Millions) 2007 2008 2007
Global Automotive Finance $ 398 $ 258 $ (140)
Insurance 143 132 (11)
Other* 64 (120) (184)
Sub-Total Net Income/(Loss) $ 605 $ 270 $ (335)
ResCap (910) (859) 51
Total Net Income/(Loss) $ (305) $ (589) $ (284)
* Includes GMAC Commercial Finance and equity interest in Capmark
15
17. GMAC Auto Delinquency Trends
Global Delinquencies- as % of Managed Retail Contracts
greater than 30 days past due
2.8%
2.7% 2.66% 2.68%
2.61%
2.6% 2.52%
2.63%
2.5% 2.48%
2.46%
2.4% 2.42%
2.3%
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
'06 '06 '06 '07 '07 '07 '07 '08
North Asia Latin
America Europe Pacific America Global
Loans > 30 Days Past Due
Q1 2008 2.45% 1.36% 1.84% 3.75% 2.42%
Q1 2007 2.51% 1.53% 2.38% 3.87% 2.52%
16
18. Adjustments to Income
$ Millions EPS
Adjusted Net Income / (Loss) (350) $ (0.62)
Pre-Tax Adjustments
GMAC impairment (1,452)
Restructuring related (324)
Delphi (731)
Tax-related Adjustments
DTA Valuation Allowance (394)
Total Adjustments (2,901)
GAAP Net Income / (Loss) (3,251) $ (5.74)
Exclusion of special items useful for:
• Management to measure operations
• Comparisons between reporting periods
• Investors to measure and assess company’s core performance
17
19. GMAC Impairment
• U.S. GAAP states that a loss in value of an investment that
is other than temporary should be recognized
• GM conducted analysis to determine if there is impairment
of our GMAC equity investment based on fair value
– Based on current market conditions, indicated value of common
equity interest is $1.31B less than previous carrying value of $6.7B
• Driven by estimated market value of ResCap using market multiples of
mortgage companies
– Current market pricing also indicates value for preferred equity
interest is $0.14B less than previous carrying value of $1.0B
• GM recorded Q1 non-cash charges totaling $1.45B to
impair both common and preferred equity interests
– Current GM carrying values for common and preferred interests
now $5.4B and $0.9B, respectively
18
20. GM Liquidity Position
• Liquidity position of $23.9B at March 31, 2008
– Includes $0.7B of readily-available VEBA assets (i.e. short-term
VEBA)
– Represents decrease of $(3.4)B from year-end 2007
• Reflects negative adjusted automotive OCF driven primarily by lower
Q1 production in GMNA, including impact of American Axle strike
• Additionally have access to about $7B of undrawn,
committed U.S. credit facilities
– Total available liquidity of over $30B at the end of Q1
• Net liquidity of $(16.2)B, $(4.1)B lower than year-end 2007
resulting from lower Q1 2008 cash balance
19
22. First Quarter Key Cash Flow Drivers
• Q1 2008 adjusted automotive OCF of $(3.6)B
– Net OCF impact of American Axle strike estimated at
approximately $(2.1)B for the quarter, $(1.3)B of which was
related to managed working capital and accrued expenses
• Q1 2008 OCF unfavorable by $(3.8)B vs. Q1 2007 due
primarily to:
– Unfavorable working capital variance
– Higher capital expenditures
– Lower sales allowance accruals and slightly higher payments
21
23. Automotive Cash Flow Summary
($ billions)
Operating Related Q1 2007 Q1 2008 F/(U)
Earnings Before Tax (Automotive & Corp/Other) * - (1.0) (1.0)
Depreciation & Amortization 2.0 2.0 -
Capital Expenditures (1.2) (1.9) (0.7)
Change in Receivables, Payables & Inventory - (2.0) (2.0)
Pension/OPEB expense (net of payments) (0.5) (0.7) (0.2)
Accrued Expenses & Other (0.1) - 0.1
Adjusted Operating Cash Flow 0.2 (3.6) (3.8)
Allison Operating Cash Flow - Discontinued Operations 0.1 - (0.1)
Cash Restructuring Costs (0.6) (0.3) 0.3
Delphi - Cash Restructuring Costs (0.3) - 0.3
Adj. Operating Cash Flow after Special Items (0.6) (3.9) (3.3)
Non-Operating Related
Dividends (0.1) (0.1) -
Change in Debt (1.1) 0.4 1.5
GMAC Purchase Price Adjustment (1.0) - 1.0
GMAC Asset Carve Out Flows 0.2 0.2 -
Change in ST VEBA 1.1 0.1 (1.0)
Other (0.2) (0.1) 0.1
Total Non-Operating Related (1.1) 0.5 1.6
Net Change in Cash and Cash-related (1.7) (3.4) (1.7)
* Earnings before Tax from Continuing Operations on a GAAP basis
Refer to Supplemental Charts for reconciliation to GAAP figures 22
24. Working Capital and Accrued Expenses
• Year-to-year Q1 variance in working capital mainly driven by impact of
American Axle strike and timing related to certain accounts payable
flows in Q1 2007
($ billions) Q1 2007 Q1 2008 F/(U)
Accounts Receivable (1.5) (0.2) 1.3
Inventory (1.6) (1.8) (0.2)
Accounts Payable 3.1 0.0 (3.1)
Total Working Capital 0.0 (2.0) (2.0)
• Accrued Expenses and Other reflects timing of cash flows vs. accruals
($ billions) Q1 2007 Q1 2008 F/(U)
Net Sales Allowances 0.3 (0.4) (0.7)
Non-Cash Charges 0.1 1.0 0.9
Net Interest Accruals/ (Payments) (0.2) (0.2) 0.0
Net Daily Rental Sales (0.3) (0.2) 0.1
Net P & W Accruals/ (Payments) 0.1 (0.1) (0.2)
Net Tax Refunds/ (Payments) & Other (0.1) (0.1) -
Accrued Expenses & Other (0.1) - 0.1
23
25. U.S. Industry Outlook
• U.S. economy is facing strong headwinds
• Aggressive monetary policies have reduced risk of a credit
crunch; however with side effects of weakening dollar and
surging oil prices
• Short-term industry conditions remain very challenging
• GM is revising its outlook for 2008 U.S. total industry
outlook to the mid-to-high 15 million unit range
• Will continue to monitor closely, noting that some positive
signs are evident
– Outside of housing, autos and finance, employment and
investment are holding up
– Signs that housing activities may soon stabilize, albeit at low levels
24
26. Operating Actions – GM North America
• Aligning capacity with demand
– Eliminated one shift of production at three full-size pickup truck
plants and one full-size utility plant
– Continue to work on successful implementation of hourly attrition
program and 2007 UAW contract
• Aligning inventory with demand
– Full-size pickup and utility inventory reduced - - consistent with
market demand
– Total U.S. dealer inventory at end of April (estimated to be ~840k)
at lowest April-ending level since 1983
• Maximize success of recent new products
• Continue to deliver successful new products to the
marketplace
25
27. Growth Strategies – Emerging Markets
• Grow quickly and profitably in fastest growing markets
• Expand capacity in cost effective manner
– New assembly plants in Russia, India and Mexico
– New powertrain plants in Mexico, China and Brazil
– Working with partners to increase capacity
– Evaluating longer-term capacity increases
• Expand “lower cost” product portfolio
• Strong focus on brand building and distribution channels
26
28. Growth Strategies – GMLAAM Example
• Adding assembly capacity in Mercosur region
– Shifts, line rate increases
• Adding assembly capacity in Andean region
– Line rate increase in Colombia
– Contracted assembly in Venezuela and Ecuador
• Adding flex fuel powertrain capacity in Brazil
• Distribution improvements in the Middle East
• Leveraging GM’s global portfolio and
manufacturing footprint
27
29. Delphi Update
• Delphi unable to emerge under its Plan of Reorganization, as Plan
Investors terminated their investment agreement on April 4
– GM-Delphi Settlement Agreements and agreements with Delphi’s labor
unions remain in place but are not generally effective
• GM will agree to advance up to $650M to Delphi during 2008 in
anticipation of effectiveness of the GM-Delphi Settlement Agreements
– Within amount GM would have paid had Delphi emerged from bankruptcy
– Would be concurrent with Delphi DIP extension
– GM would receive an administrative claim for advances
• GM continues to work with Delphi and its stakeholders to facilitate
Delphi’s efforts to emerge from bankruptcy
• Q1 charge of $0.7B primarily results from updated estimates reflecting
uncertainty around nature, value, and timing of GM’s recoveries
– Total of $8.3B in net Delphi-related charges taken to date
28
30. Outlook
• Second Quarter
– Volume and revenue growth overseas, particularly in key
emerging markets
– Manage GMNA business in a more challenging environment
– Execute North American capacity actions
– Actively manage special risk factors (Delphi, GMAC / ResCap,
American Axle)
• Looking Ahead
– Strong focus on managing business for cash flow
– Begin to see impact of current Special Attrition Program
– Execute key launches such as Chevrolet Traverse in North
America and Opel Insignia in Europe
– Bring new capacity on-line in Mexico, Russia and India
29
31. Supplemental Charts
The following supplemental charts are provided to reconcile
adjusted financial data comprehended in the primary chart set with
GAAP-based data (per GM’s financial statements) and/or provide
clarification with regard to definition of non-GAAP terminology
32. Reconciliation to Adjusted Net Income / EPS Q1 2008
Auto Corp. Other
QTD March 31, 2008 GMNA GME GMLAAM GMAP Elims Total Auto GMAC Other Financing Total
Total Net Sales & Revenue 24,543 9,909 4,763 5,477 (2,567) 42,125 - - 545 42,670
Income (loss) before tax (812) 75 517 286 2 68 (1,728) (1,029) 91 (2,598)
Tax expense - - - - - - - (645) (8) (653)
Net Income (loss) (812) 75 517 286 2 68 (1,728) (1,674) 83 (3,251)
EPS - Basic/Diluted ($5.74)
Pre-tax adjustments:
Delphi - - - - - - - 731 - 731
Restructuring 201 123 - - - 324 - - - 324
Impairment on investment in GMAC - - - - - - 1,452 - - 1,452
201 123 - - - 324 1,452 731 - 2,507
Tax adjustments:
UK/Spain DTA valuation allowance - - - - - - - 394 - 394
Total Adjustments 201 123 - - - 324 1,452 1,125 - 2,901
Total Adjust. - Net Revenue - - - - - - - - - -
Adjusted Net Revenue 24,543 9,909 4,763 5,477 (2,567) 42,125 - - 545 42,670
Income (loss) before tax (611) 198 517 286 2 392 (276) (298) 91 (91)
Tax expense - - - - - - - (251) (8) (259)
Adjusted Net Income (loss) (611) 198 517 286 2 392 (276) (549) 83 (350)
Adjusted EPS - Basic/Diluted ($0.62)
S1
33. Reconciliation to Adjusted Net Income / EPS Q1 2007
Auto Corp. Other
QTD March 31, 2007 GMNA GME GMLAAM GMAP Elims Total Auto GMAC Other Financing Total
Total Net Sales & Revenue 28,057 8,471 3,577 4,568 (2,222) 42,451 - - 936 43,387
Income (loss) before tax (208) 4 254 143 (7) 186 (134) (209) 54 (103)
Tax (expense)/benefit - - - - - - - 67 (6) 61
Net income (loss) from Cont. Ops. (208) 4 254 143 (7) 186 (134) (142) 48 (42)
Net income for Disc. Ops. 104 - - - - 104 - - - 104
Net Income (loss) (104) 4 254 143 (7) 290 (134) (142) 48 62
EPS - Basic/Diluted $0.11
Pre-tax adjustments:
Restructuring/Special attrition related (20) 57 - 40 - 77 - - - 77
Asset Impairments - - - 9 - 9 - - - 9
Plant Closures (41) - - - - (41) - - - (41)
(61) 57 - 49 - 45 - - - 45
Tax adjustments:
Tax on or tax related regional special items - - - - - - (13) (13)
Total Adjustments (61) 57 - 49 - 45 - (13) - 32
Total Adjust. - Net Revenue - - - - - - - - - -
Adjusted Net Revenue 28,057 8,471 3,577 4,568 (2,222) 42,451 - - 936 43,387
Income (loss) before tax (269) 61 254 192 (7) 231 (134) (209) 54 (58)
Tax (expense)/benefit - - - - - - - 54 (6) 48
Net income (loss) for Cont. Ops. (269) 61 254 192 (7) 231 (134) (155) 48 (10)
Net income for Disc. Ops. 104 - - - - 104 - - - 104
Adjusted Net Income (loss) (165) 61 254 192 (7) 335 (134) (155) 48 94
Adjusted EPS - Basic/Diluted $0.17
S2
34. Reconciliation of GMNA Revenue Per Unit
First Quarter
2004 Q1 2005 Q1 * 2006 Q1
Revenue Revenue Revenue Revenue Revenue Revenue
$ (Millions) Per Unit $ (Millions) Per Unit $ (Millions) Per Unit
GAAP 30,972 $ 21,997 27,150 $ 21,860 30,413 $ 22,781
add/(less): Allied Sales (21) a (498) a 155 a
less: Non Vehicle Sales (2,931) b (2,642) b (3,327) b
less: Other Income Items (571) c (489) c (530) c
Managerial 27,449 $ 19,495 23,521 $ 18,938 26,711 $ 20,008
* 2007 Q1 2008 Q1
Revenue Revenue Revenue Revenue
$ (Millions) Per Unit $ (Millions) Per Unit
GAAP 28,057 $ 25,095 24,543 $ 25,808
add/(less): Allied Sales (769) a (582) a
less: Non Vehicle Sales (3,245) b (2,975) b
less: Other Income Items (484) c (468) c
Managerial 23,559 $ 21,072 20,518 21,575
* Excludes revenue from Allison Transmission, classified as discontinued operations
a). For GAAP reporting purposes, sales to other GM regions are eliminated whereas they are retained for managerial vehicle analysis
b). Includes SPO parts, Powertrain engines, MSP, and Onstar service outside sales- excluded from managerial vehicle analysis
c). Includes Interest Income, Daily Rental Income, and GM Credit Card Income- excluded from managerial vehicle analysis
S3
35. Reconciliation of GMNA Revenue Per Unit
Calendar Year
CY '03 CY '04 CY '05
Revenue Revenue Revenue Revenue Revenue Revenue
$ (Millions) Per Unit $ (Millions) Per Unit $ (Millions) Per Unit
GAAP 120,566 $ 21,537 119,071 $ 21,736 111,376 $ 21,838
add/(less): Allied Sales (1,270) a (925) a (827) a
less: Non Vehicle Sales (10,063) b (9,175) b (9,246) b
less: Other Income Items (1,973) c (2,607) c (2,236) c
Managerial 107,260 $ 19,160 106,364 $ 19,417 99,067 $ 19,425
CY '06 CY '07
Revenue Revenue Revenue Revenue
$ (Millions) Per Unit $ (Millions) Per Unit
GAAP 116,653 $ 23,671 112,448 $ 25,061
add/(less): Allied Sales (1,674) a (1,343) a
less: Non Vehicle Sales (13,487) b (12,764) b
less: Other Income Items (2,003) c (1,929) c
Managerial 99,489 $ 20,189 96,412 21,487
Note: Excludes revenue from Allison Transmission, classified as discontinued operations
a). For GAAP reporting purposes, sales to other GM regions are eliminated whereas they are retained for managerial vehicle analysis
b). Includes SPO parts, Powertrain engines, MSP, and Onstar service outside sales- excluded from managerial vehicle analysis
c). Includes Interest Income, Daily Rental Income, and GM Credit Card Income- excluded from managerial vehicle analysis
S4
36. Reconciliation of Automotive Cash Flow
First Quarter
General Motors Corporation
Automotive and Corp/Other
GAAP to Managerial Cash Flow reconciliation
$ Billions
Q1 2008 Q1 2007
Net Cash Provided By Operating Activities (GAAP) * (2.0) 0.9
Reclassifications to/ (from) U.S. GAAP
- Expenditures for PPE & Special Tools (1.9) (1.2)
- Cash Restructuring Costs 0.3 0.6
- Delphi - Cash Restructuring Costs - 0.3
- Other - (0.4)
Total Reconciling Items (1.6) (0.7)
Adjusted Operating Cash Flow before Special Items (3.6) 0.2
* Operating Cash Flow from Continuing Operations
S5
