General Motors (GM) 8-K General Motors Announces the New Company’s

General Motors Company

Preliminary Results

July

10,

2009

–

Sept.

30,

2009

Nov 16, 2009

Exhibit 99.2

Forward Looking Statements

1

In this presentation and in related comments by our management, our use of

the words “expect,” “anticipate,” “ensure,” “promote,” “target,” “believe,”

“improve,” “intend,” “enable,” “continue,” “will,” “may,” “would,” “could,”

“should,” “project,” “projected,” “positioned” 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. Among other items, such factors might include: our ability to comply

with the requirements of our credit agreements with the U.S. Treasury as well

as the EDC and VEBA; our ability to maintain adequate liquidity and

financing sources and an appropriate level of debt; our ability to realize

production efficiencies and to achieve reductions in costs as a result of our

restructuring initiatives and labor modifications; our ability to restore

consumers’ confidence in our viability as a continuing entity and our ability to

continue to attract customers, particularly for our new products, including

cars and crossover vehicles; significant changes in the competitive

environment and the effect of competition on our markets, including on our

pricing policies; and overall strength and stability of general economic

conditions and of the automotive industry, both in the United States and in

global markets.

Preliminary Managerial Results

•

General Motors Company is a private company and voluntary filer with

United States Securities & Exchange Commission (SEC)

–

Per agreement with SEC, GM will file under Form 8-K unaudited condensed

consolidated

managerial

financial

statements

for

period

July

10

–

Sept.

30,

2009 and include information related to Old GM

•

Consolidated managerial financial statements do not comply with

Generally Accepted Accounting Principles (GAAP)

–

Assets & liabilities valued at historical cost basis (Old GM prior to 363 sale)

–

Fixed asset impairment testing and benefit plan remeasurements

have not

been performed

–

Results do not reflect application of fresh-start reporting and other

adjustments

and

will

change

significantly

when

these

adjustments

are

applied to comply with GAAP

–

We will continue to analyze time periods in which revenues and expenses

were recorded along with allocation of certain assets and liabilities

•

GM is a new entity and financial statements are not comparable to

those of Old GM

•

In 2010, GM will file Forms 10-Q and 10-K, including GAAP compliant

financials, for periods ending Sept. 30, 2009 and Dec. 31, 2009,

respectively

2

Changes in Presentation

•

Q3 2009 preliminary managerial financial results have been

segregated into two periods

–

July 1 through July 9 Old GM

–

July 10 through Sept 30 New GM

•

Former Europe, Latin America/Africa/Middle East and Asia Pacific

segments combined into GMIO Segment

–

Consistent with operating structure to streamline business and speed

decision making

•

Due to lack of significant influence over GMAC, GM has changed

accounting treatment for investment to cost method from prior equity

method

–

GM’s common equity ownership in GMAC is 24.5%, 9.9% is held

directly, and 14.6% is held in an independent trust

3

Highlight of Major Achievements

•

Encouraging vehicle launches globally

–

U.S.: Chevrolet Camaro & Equinox, Cadillac SRX, Buick LaCrosse,

GMC Terrain

–

GMIO: Holden Cruze, Daewoo Matiz Creative, Chevrolet Agile, Opel

Astra

•

Fewer brands, dealers & nameplates

•

Significantly improved cost structure

–

Competitive wage structure in place

–

~19% reduction in total U.S. employment from YE 2008 through

September 30

•

Healthier balance sheet with lower leverage

•

Resolution of Delphi restructuring

•

New BOD and leaner executive team

•

New operating structure

•

Accelerating change in GM’s culture

4

Preliminary Results Overview

5

July 10 –

Sept. 30 Preliminary Managerial Results

$Billion

Net Revenue

$26.5

EBIT

$(0.3)

Net Interest

$(0.2)

Special Items

$(0.5)

EBT

$(1.0)

Total Managerial Income/(Loss)

$(1.2)

Managerial OCF (Before Special Items)

$3.3

Memo: EBITDA (Before Special Items)

$1.5

September 30 Cash Balance

Including $17.4B in escrow

$42.6

3Q 2009

Actual

Status vs.

H1 2009

Global Market Share

U.S. Market Share

China Market Share

11.9%

19.5%

13.5%

0.3 p.p. increase

Unchanged

0.1 ppt. increase

Ending U.S. Dealer Inventory (000’s)

424K

158K reduction

(vs. June 30)

Q3 Global Sales Results

6

Memo:

Viability Plan

1Q09

2Q09

3Q09

3Q09 *

Total Global

- Net Revenue ($B)

22.4

23.1

28.0

23.5

- Industry SAAR (Mil)

57.7

62.7

67.8

56.5

- Market Share

11.2%

11.9%

11.9%

11.2%

- Production Volume (000)

1,330

1,538

1,697

N/A

- Deliveries (000)

1,617

1,937

1,969

1,554

GMNA

- GMNA Net Revenue ($B)

12.3

11.4

15.5

14.7

- U.S. Industry SAAR (Mil)

9.7

9.8

11.7

10.8

- U.S. Market Share

18.4%

20.5%

19.5%

18.8%

- GMNA Production Volume (000)

371

395

531

532

- GMNA Deliveries (000)

501

657

691

621

GMIO

- Net Revenue ($B)

11.2

11.7

12.9

9.4

- Market Share

9.6%

9.9%

9.9%

8.9%

- Production Volume (000)

959

1,143

1,166

N/A

- Deliveries (000)

1,116

1,281

1,278

933

* Viability Plan based on 5/31 plan filed  with U.S. Bankruptcy court in support of 363 sale, adjusted to include full year consolidation of GME and other items (see

supplemental slides for detail)

Production

includes

consolidated

operations,

proportion

of

JV

volume

allocated

per

JV

agreement

&

third

party

facilities

when

GM

engineering

resources,

tooling and material is used in exchange for an assembly fee

7

Core Brands

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Total Share

16.7%

15.0%

14.8%

18.4%

18.0%

16.4%

15.8%

16.2%

18.6%

19.0%

Retail Share

18.1%

16.1%

15.1%

14.7%

14.8%

16.0%

14.7%

13.8%

15.7%

18.5%

All data prior to July 10, 2009 refers to Old GM.  New GM acquired operations from Old GM on July 10, 2009

10%

15%

20%

25%

Jan-09

Apr-09

Jul-09

Oct-09

Total Share

20.8%

19.3%

18.1%

17.9%

20.4%

20.2%

18.7%

19.3%

20.6%

20.8%

10%

15%

20%

25%

Jan-09

Apr-09

Jul-09

Oct-09

Retail Share

19.0%

18.0%

17.2%

17.7%

16.4%

17.0%

17.4%

21.1%

19.9%

19.4%

U.S. Market Performance 2009 Oct CYTD

U.S. Product Launch Performance

2010 Chevrolet

Equinox

Share of

Segment

(Jul–Oct ‘09)

Average

Transaction

Price (ATP)

ATP vs.

Segment

Average

36 month

Residual

Value

U.S. Market Performance

vs. predecessor CY 2008

~ 7.6%

+ 1.4 ppt.

~ $25,500

+ $4,100

110%

+ 12.9 ppt.

43.4%

+ 5.4 ppt.

8

2010 Buick

Lacrosse

Share of

Segment

(Aug–Oct ‘09)

Average

Transaction

Price (ATP)

ATP vs.

Segment

Average

36 month

Residual

Value

U.S. Market Performance

vs. predecessor CY 2008

~ 4.1%

-

0.5 ppt.

~ $31,700

+ $9,400

117%

+ 26.1 ppt.

45.3%

+ 5.6 ppt.

2010 Cadillac SRX

Share of

Segment

(Sep–Oct ‘09)

Average

Transaction

Price (ATP)

ATP vs.

Segment

Average

36 month

Residual

Value

U.S. Market Performance

vs. predecessor CY 2008

~ 12.0%

+ 6.8 ppt.

~ $40,300

+ $4,300

92%

+ 5.9 ppt.

50.7%

+ 14.2 ppt.

2010 Chevrolet

Camaro

Share of

Segment

(Jul–Oct ‘09)

Average

Transaction

Price (ATP)

ATP vs.

Segment

Average

36 month

Residual

Value

U.S. Market Performance

vs. predecessor CY 2008

~ 43.9%

N/A

~ $34,800

N/A

116%

N/A

52.6%

N/A

U.S. Dealer Inventory

9

All data prior to July 10, 2009 refers to Old GM.  New GM acquired operations from Old GM on July 10, 2009

872

801

781

767

741

674

582

466

379

424

444

0

100

200

300

400

500

600

700

800

900

1,000

Dec-08

Jan-09

Feb-09

Mar-09

Apr-09

May-09

Jun-09

Jul-09

Aug-09

Sep-09

Oct-09

U.S. Pricing

10

•

Average retail transaction prices trending favorably

–

Aided by continued performance of launch vehicles

–

U.S. CARS Program significantly increased sales rate, but negatively impacted

3Q09 average retail transaction price due to increased mix of small vehicles

•

Focus on dealer inventory management has favorably impacted retail

incentives

Average transaction price and incentive based on JD  Power PIN data

25,788

27,001

27,156

28,179

26,996

4,427

5,433

4,589

3,641

3,561

3Q08

4Q08

1Q09

2Q09

3Q09

-

1,000

2,000

3,000

4,000

5,000

6,000

Average Retail Transaction Price

Average Retail Incentive

24,500

25,000

25,500

26,000

26,500

27,000

27,500

28,000

28,500

BRIC Industry Market Performance 2009 CYTD

11

Share by Country

China

15.1%

13.8%

12.4%

13.0%

14.0%

12.6%

13.2%

13.4%

13.5%

13.8%

Brazil

19.3%

17.9%

18.2%

17.3%

19.4%

19.5%

19.6%

19.5%

20.0%

18.8%

India

2.4%

2.8%

2.4%

2.9%

3.0%

2.5%

2.6%

3.1%

3.6%

3.7%

Russia

11.6%

11.2%

9.8%

9.3%

11.1%

11.4%

9.3%

7.8%

7.6%

7.5%

All data prior to July 10, 2009 refers to Old GM.  New GM acquired operations from Old GM on July 10, 2009

16.9

18.2

16.9

18.7

20.0

20.8

22.4

22.7

23.4

23.0

Europe Industry Market Performance 2009 CYTD

12

All data prior to July 10, 2009 refers to Old GM.  New GM acquired operations from Old GM on July 10, 2009

Memo:  Industry includes Western, Central, Eastern and Other Europe (Incl. Russia)

Share by Brand

Opel/Vauxhall

6.1%

6.3%

7.0%

6.8%

6.9%

6.6%

6.7%

6.0%

6.8%

6.0%

Chevrolet

2.2%

2.5%

1.9%

2.1%

2.4%

2.3%

2.3%

2.6%

2.1%

2.2%

Europe

2009

GM

&

Dealer

Inventories

–

Key

Markets

13

Western/Central Europe & Russia

Opel/Vauxhall/Chevrolet/Saab

429

411

407

390

375

364

342

311

313

303

299

0

50

100

150

200

250

300

350

400

450

500

Dec-08

Jan-09

Feb-09

Mar-09

Apr-09

May-09

Jun-09

Jul-09

Aug-09

Sep-09

Oct-09

Opel

•

November 4, GM’s Board of Directors decided to retain Opel

–

Deemed best long-term and least costly solution

•

Decision based on:

–

Improving business conditions

–

Considerable complexity and uncertainty with potential sale

•

Next steps include:

–

Work cooperatively and diligently on restructuring with all stakeholders

including employees and governments

–

Discuss financing from European governments

•

Opel Bridge Loan balance €900M on Sept 30

–

Repaid €500M as of Nov 13

–

Remaining €400M to be repaid by the end of Nov

14

15

General Motors Company

Review of Preliminary Managerial Results

Preliminary Managerial Results

16

*

Special items (July 1-July 9, 2009) includes reorganization gain of  $80.7B

*

New GM

July 1 -

July 10 -

($ Millions)

1Q09

2Q09

July 9, 2009

Sept. 30, 2009

GMNA

(2,764)

$        

(4,058)

$        

(532)

$          

(651)

$           

GMIO

(1,216)

(1,181)

(81)

238

Corp. / Other (Including Elims)

(15)

(440)

(14)

152

GMAC Equity Income/(Loss)

(885)

(596)

0

0

EBIT

(Before Special Items)

(4,880)

(6,275)

(627)

(261)

Memo: EBITDA

(2,603)

(2,502)

(184)

1,532

Net Interest

(1,136)

(1,679)

(209)

(250)

Special Items

(73)

(6,964)

79,672

(505)

Total EBT

(6,089)

(14,918)

78,836

(1,016)

Taxes

114

444

522

(135)

Total Managerial Net

Income/(Loss)

(5,975)

(14,474)

79,358

(1,151)

Old GM

Preliminary Special Items

17

New GM

July 1 -

July 10 -

($ Millions)

1Q09

2Q09

July 9, 2009

Sept. 30, 2009

Restructuring & Special Attrition Programs

(116)

(3,943)

(384)

(452)

Delphi Related

(135)

(812)

(41)

(112)

SAAB Related

(822)

(67)

(23)

59

Accelerated Discount Amortization on DIP Financing

-

(1,620)

(600)

-

Reorganization Gains, Net

-

(1,157)

80,720

-

GMAC Related

385

483

-

-

Impairments

(291)

-

-

-

Gain on Extinguishment of Debt

906

-

-

-

Other

-

152

-

-

Total Special Items

(73)

(6,964)

79,672

(505)

Old GM

Preliminary Managerial Results

18

New GM

Memo:

July 1 -

July 10 -

Viability Plan

($ Millions)

3Q08

July 9, 2009

Sept. 30, 2009

3Q09 **

GMNA

(2,015)

$         

(532)

$            

(651)

$            

(2,094)

$      

GMIO

(447)

(81)

238

(967)

Corp. / Other (Including Elims)

47

(14)

152

(518)

GMAC Equity Income/(Loss)

(1,235)

0

0

N/A

Total EBIT (Before Special Items)

(3,650)

(627)

(261)

(3,579)

Memo: EBITDA

(1,682)

(184)

1,532

(1,277)

Net Interest

(487)

(209)

(250)

(620)

Special Items

1,653

79,672

(505)

N/A

Total EBT

(2,484)

78,836

(1,016)

(4,199)

Taxes

(68)

522

(135)

Total Managerial Net

Income/(Loss)

(2,552)

79,358

(1,151)

(4,199)

Old GM

*

Special items (July 1-July 9, 2009) includes reorganization gain of  $80.7B

*

* * Viability Plan based on 5/31 plan filed  with U.S. Bankruptcy court in support of 363 sale, adjusted to include full year consolidation of GME and

other items (see supplemental slides for detail)

GMNA Preliminary Managerial Results

Before Special Items

19

* Viability Plan based on 5/31 plan filed  with U.S. Bankruptcy court in support of 363 sale, adjusted to include full year consolidation of GME and

other items (see supplemental slides for detail)

Old GM

New GM

Memo:

July 1 -

July 10 -

Viability Plan

($ Millions)

3Q08

July 9, 2009

Sept. 30, 2009

3Q09 *

Revenue

$22,544

$398

$15,252

$14,652

EBIT

(2,015)

(532)

(651)

(2,094)

EBIT Margin

(8.9)%

(133.7)%

(4.3)%

(14.3)%

Memo: EBITDA

(760)

(204)

577

(741)

Viability Plan

        3Q08       

        3Q09       

        3Q09       

GMNA Production (000's)

915

531

532

GMIO Preliminary Managerial Results

Before Special Items

20

* Viability Plan based on 5/31 plan filed  with U.S. Bankruptcy court in support of 363 sale, adjusted to include full year consolidation of GME and

other items (see supplemental slides for detail)

** Excludes IO eliminations

Old GM

New GM

Memo:

July 1 -

July 10 -

Viability Plan

($ Millions)

3Q08

July 9, 2009

Sept. 30, 2009

3Q09 *

Revenue

$15,714

$1,147

$11,775

$9,397

Income/(Loss) Before Interest,

Taxes, Equity Income

(569)

(63)

167

(1,101)

Equity Income

71

8

217

82

Non-Controlling Interests

51

(26)

(146)

52

EBIT

(447)

(81)

238

(967)

EBIT Margin

(2.8)%

(7.1)%

2.0%

(10.3)%

Memo: EBITDA

211

26

745

(64)

Memo: EBIT ** -

Europe

n/a

n/a

(437)

n/a

-

LAAM

n/a

n/a

245

n/a

-

Asia Pacific

n/a

n/a

429

n/a

Viability Plan

3Q08      

3Q09

GMIO Production (000's)

1,124

N/A

3Q09          

1,166

Automotive Structural Cost Summary

21

New GM

9 Months

January 1

July 10

Ended

Through

Through

September 30, 2008

July 9, 2009

September 30, 2009

Total Structural Cost ($Bil)

$37.8B

$22.0B

$9.1B

Old GM

Structural cost performance achieved through:

–

Salaried headcount reduction

–

Hourly headcount reduction

–

Engineering savings

–

Volume related savings

–

Media spending

Total Debt

September 30, 2009 vs. July 9, 2009

**  Total debt as of 9/30/2009 does not include $9B preferred stock, $2.5B UAW VEBA note, or $0.7B CAW note

Old GM

22

*  Does

not

include

equitization

of

$3.9B

received

from

EDC

post

July

10th

($ billions)

Sept 30

UST

6.7

EDC (C$1.5)

1.4

Supplier Support

0.3

Adam Opel Bridge Loan (€0.9)

1.3

Total Government

9.7

GMNA (Ex. Gov't)

1.5

GMIO (Ex. Gov't)

4.8

Capital Leases & Other

1.0

Total Debt

17.0

New GM

94.7

(49.5)

(26.8)

(1.2)

17.2

17.0

-

20

40

60

80

100

120

Old GM Debt     

Balance @     

7/9/2009

Government

Equitization*

Unsecured Bonds   

Left at Old GM

UST Debt Left at      

Old GM

New GM Debt

Balance @  

7/10/2009

New GM Debt

Balance @

9/30/2009**

$ billions

$ billion

Total Liabilities

September 30, 2009 vs. July 9, 2009

*  Total liabilities as of 9/30/2009 do not reflect the impact of the employee healthcare settlement agreements reached with our

various constituencies

Old GM

New GM

23

214.2

(77.5)

(3.5)

133.2

7.4

(3.4)

(1.6)

135.6

100

120

140

160

180

200

220

240

Total Old GM

Liabilities @

7/9/2009

Debt Equitized

or

Left at Old GM

Other Liabilities

Equitized

or Left at

Old GM

Total New GM

Liabilities @

7/10/2009

Accounts Payable

Pensions & OPEB

Other

Total New GM

Liabilities @

9/30/2009 *

$ billions

Liquidity Walk

24

Debt Balance Does Not Include:

•

$2.5B UAW VEBA Note

•

$0.7B CAW Note

•

$9.0B Preferred Stock

Old GM

New GM

Repayment of UST/EDC Debt

8.1

Delphi

2.8

Canada Healthcare

0.9

Remaining Escrow                  

5.6

Total Escrowed Cash              17.4

25

Managerial Cash Flow Summary

* Viability Plan based on 5/31 plan filed  with U.S. Bankruptcy court in support of 363 sale, adjusted to include full year consolidation of GME and

other items (see supplemental slides for detail)

Note:

The $20.1 billion net change in cash and cash-related includes $1.2 billion of UST DIP that was subsequently carved-out and left behind with      

MLC, while the Viability Plan cash flow walk recognized a $1.0B outflow.

Old GM

New GM

Memo:

($ Billions)

July 1 -9, 2009

July 10 - Sept. 30, 2009

Viability Plan 3Q 2009*

Earnings Before Tax

78.8

(1.0)

(4.2)

Depreciation & Amortization

0.4

1.8

2.3

Capital Expenditures

(0.6)

(0.6)

(1.4)

Change in Receivables, Payables & Inventory

(2.7)

8.2

3.8

Pension & OPEB Expense (Net of Payments)

-

(3.9)

(4.2)

Accrued Expenses & Other

(79.5)

(1.2)

(0.5)

Managerial Operating Cash Flow before Special Items

(3.6)

3.3

(4.2)

Cash Restructuring Costs

(0.1)

(0.9)

(1.5)

Delphi Related

-

(0.2)

(3.0)

Special Cash Charges

(0.1)

(1.1)

(4.5)

Managerial Operating Cash Flow after Special Cash Charges

(3.7)

2.2

(8.7)

Non-Operating Related

Change in Debt

23.7

(0.4)

15.6

Proceeds from Investment by EDC

-

4.0

3.9

Other

0.1

0.4

(3.0)

Total Non-Operating Related

23.8

4.0

16.5

Net Change in Cash and Cash-related

20.1

6.2

7.8

Escrow Account

•

$16.4B from the DIP Facility deposited in a US escrow established on

July 10

–

$2.8B drawn to date for Delphi related payments

–

Escrow to expire in June 2010 and undrawn funds used to repay UST loan;

GM may request one year extension subject to UST agreement

–

Remaining funds to be distributed to GM

•

US escrow originally established to cover certain contingencies

anticipated in GM’s viability plan which are not expected to materialize

–

Underlying performance also better than viability plan

•

As a result GM has entered into an agreement with UST to repay

$1.2B/quarter ($1B to UST and $192M to Canadian government) from

US escrow funds starting Q4 2009 until GM completes an IPO

–

Begin process of repaying taxpayer funds and reduce negative carry on

interest

–

Balance of the terms remain unchanged versus original agreement including

June 2010 expiration date of escrow and potential for one year extension

•

In addition C$5.0B deposited in escrow for Canadian pension and

healthcare contributions

–

C$1.0B remains in escrow to fund Canadian Health Care Trust

26

27

Forward Perspectives

General Motors Company

Global Industry Outlook Q4 & CY 2009

28

SAAR * (Mil)

Total Including Heavy

Q3 2009

Actual

Q4 2009

Outlook

CY 2009

Outlook

GMNA

U.S.

14.2

11.7

13.3

10.7

13.0

10.5

GMIO

Brazil

Russia

India

China

Germany

53.6

3.3

1.4

2.4

15.7

4.0

52.1

3.2

1.3

2.5

13.4

3.6

50.3

3.2

1.5

2.2

13.0

4.1

Global Total

67.8

65.4

63.3

* SAAR –

Seasonally Adjusted Annualized Rate

Fourth Quarter Perspectives

29

Item

Status vs. Q3

Fav/(Unfav)

Drivers

Market

(Unfavorable)

•

Moderating global markets

•

End of various vehicle tax incentives

GM’s Market

Performance /

Production

Favorable

•

Launch product strength

•

Balanced U.S. dealer inventory

•

U.S. pricing flat to slightly down

Cost Drivers

(Unfavorable)

•

Increased media

•

Increased engineering

•

Higher capital expenditures

Net Cash Flow

(Unfavorable)

•

Favorable Q3 working capital

•

Supplier payment terms to net 47 days ~$(2.0)B

•

Delphi ~$(2.8)B

•

Continued restructuring costs ~$(1.0)B

•

Repayment various gov’t loans ~$(2.5)B

Global Industry Outlook CY 2009 & 2010

30

Units (Mil)

Total Including Heavy

CY 2009

Outlook

Preliminary

CY 2010

Outlook

GMNA

U.S.

13.0

10.5

13.5-14.5

11.0 –

12.0

GMIO

Brazil

Russia

India

China

Germany

50.3

3.2

1.5

2.2

13.0

4.1

48.5 –

50.5

3.1 –

3.3

1.4 –

1.5

2.4 –

2.5

12.0 –

13.8

2.9 –

3.1

Global Total

63.3

62.0–

65.0

Q3 Summary

•

Recorded $1.2B managerial loss ….significantly more work to do

•

Positive managerial operating cash flow favorably impacted by:

–

Working capital driven by supplier payments & production start up

–

Low level of capital spending

•

Third quarter GM global deliveries and market share ahead of

Viability Plan

–

U.S. share also ahead of Viability Plan

•

Strong structural cost performance

•

Balance sheet significantly de-levered

•

Stronger cash balances

–

Begin process of UST/EDC repayment

–

Fourth quarter global cash balances materially lower due to number of

special factors

31

Key Focus Areas

•

Drive profitable top line market and revenue

performance

•

European restructuring

•

Continued execution of North American Operating Plan

•

Reinvention of GM Culture

32

Supplemental Charts

General Motors Company

S-0

Viability Plan Filed in Support of 363 Sale

Adjusted to Include Full Year Consolidation of GME & Other Items

5/31/2009

Adjusted

Memo:

Viability Plan

Viability Plan

Adjusted Viability Plan

($ Millions)

CY 2009

Adjustments *

CY 2009

3Q 2009

GMNA

(10,847)

(82)

(10,929)

(2,094)

GMIO

(3,495)

(1,012)

(4,507)

(967)

Auto Eliminations

(134)

-

(134)

(89)

Total Automotive EBIT Excluding Special Items

(14,476)

(1,094)

(15,570)

(3,150)

Corp Other

(1,077)

81

(996)

(429)

GMAC **

N/A

-

N/A

N/A

   Total EBIT Excluding Special Items

(15,553)

(1,013)

(16,566)

(3,579)

Equity Income

308

(308)

0

Minority Interest

499

(499)

0

Interest

(2,786)

13

(2,773)

(620)

Total EBT Excluding Special Items

(17,532)

(1,807)

(19,339)

(4,199)

*

Adjusted

to

include

Jun

–

Dec

2009

consolidation

of

GME,

reclassification

of

equity

income

and

minority

interest

to EBIT and inclusion of FIO EBT

**   GMAC excluded from 5/31/2009 Viability Plan

S-1

Viability Plan Filed in Support of 363 Sale –

Managerial OCF

Adjusted to Include Full Year Consolidation of GME & Other Items

$ Billions

5/31/2009

Viability Plan

CY 2009

Adjustments

Adjusted

Viability Plan

CY 2009

Memo:

Adjusted Viability Plan

3Q 2009

Total EBT Excluding Special Items

(17.5)

(1.8)

(19.3)

(4.2)

Depreciation & Amortization

7.7

1.6

9.3

2.3

Capital Expenditures

(5.0)

(1.0)

(6.0)

(1.4)

Change in Receivables, Payables & Inventory

1.0

0.9

1.9

3.8

Pension & OPEB Expense, (Net of Payments)

(5.8)

-

(5.8)

(4.2)

Accrued Expenses & Other

(6.2)

(0.9)

(7.1)

(0.5)

Managerial Operating Cash Flow

(25.8)

(1.2)

(27.0)

(4.2)

Asset Sales

0.1

-

0.1

-

Delphi Impact

(3.7)

-

(3.7)

(3.0)

Cash Restructuring Costs

(4.2)

(1.2)

(5.4)

(1.5)

Managerial Operating Cash Flow After Special Items

(33.5)

(2.4)

(36.0)

(8.7)

GMAC Asset Carve-out Cash Flows

1.0

-

1.0

0.3

GMAC Distributions / GMAC Flows

(2.5)

-

(2.5)

0.3

Managerial Operating Cash Flow After GMAC Related Flows

(35.0)

(2.4)

(37.5)

(8.1)

VEBA Withdrawals (Salaried and Hourly)

0.0

-

0.0

-

UAW/CAW IT VEBA Contribuitons

(1.0)

0.1

(0.9)

(0.9)

Credit Facillity Draws / (Repayments)

(5.4)

-

(5.4)

(4.7)

Debt Maturities

(3.3)

-

(3.3)

(2.2)

Debt Financing

0.3

-

0.3

-

US Government Funding

45.5

-

45.5

19.7

Canadian Government Funding

9.5

-

9.5

5.9

Non-US/Canadian Government Funding

-

3.3

3.3

0.8

Gov't Loan for GMAC Rights Offering

0.9

-

0.9

-

Other Non-Operating Cash Flows

(10.1)

1.3

(8.8)

(2.7)

Net Cash Flow

1.3

2.3

3.6

7.8

S-2