General Motors Company · NYSE:GM
General Motors — Deutsche Bank 2014 Global Auto Industry Conference
47 slides from General Motors's conference presentation, Jan 15, 2014
Slide 1: President
President Exhibit 99.2
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS In this presentation and in related comments by our management, our use of the words “expect,” “anticipate,” “possible,” “potential,” “target,” “believe,” “commit,” “intend,” “continue,” “may,” “would,” “could,” “should,” “project,” “projected,” “positioned,” “outlook” or
Slide 3: Priorities
PRIORITIES Integrate and optimize our global operations Improve resource allocation decisions Drive key global initiatives — U.S., China, Cadillac, Europe, emerging markets, GMF a Build a winning team... one company approach Deliver results
Slide 4: 2013 GM Update
2013 GM UPDATE Updated Jan 2013 2013 Outlook Outlook a Global industry up ~4% Volume = Deliveries up, wholesales flat * * Mix = Strong vehicle launches wy 4} Price = Largely due to new entries ae ae Material content on new entries Cost = % ae can = Ongoing cost performance EBIT-Adj. a > EBIT-Adj. Ma
Slide 5: 2013 Accomplishments
2013 ACCOMPLISHMENTS a Executed successful global vehicle launches u Received most JD Power IQS awards = Improved revenue, EBIT-Adj.and margins = Announced GMIO restructuring plans a Acquired Ally International Operations
Slide 6: 2013 Accomplishments (Cont.)
2013 ACCOMPLISHMENTS (CONT.) a Added to S&P 500 a Refinanced $4.5B to increase flexibility = Achieved Investment Grade rating = Monetized Ally and PSA equity stakes a UST divested its GM ownership stake a Announced leadership succession plan
Slide 7: 2014 Outlook
2014 OUTLOOK = Taking advantage of strength in North America and China to fund restructuring elsewhere — Core operating performance remains on plan — Significant FX challenges, partially offset with price — GMF earnings flat a Total EBIT-Adj. to be modestly improved — Improved underlying operating p
Slide 8: Restructuring Charges
RESTRUCTURING CHARGES (INCLUDED IN EBIT-ADJ.) $1.0B $0.5B 2011 2012 2013 2014
Slide 9: 2014 GM Outlook
2014 GM OUTLOOK = Global industry up ~2% to 85+M units Volume = Market share flat to slightly up * Mix a Stable outlook Vy Full-year impact of 2013 vehicle launches Price i ¥ P 4y = Planned offset of FX headwinds = Restructuring/other fixed ant = Material content on recent entries » a Increased FX h
Slide 10: Quarterly Earnings Cadence
QUARTERLY EARNINGS CADENCE 50% Percentage of CY EBIT-Adj. By Quarter Gil Seasonal Trend «== 2014 Outlook 25% 0% Qi Q2 Q3 Q4 Note: Not to Scale
Slide 11: 2014 Capital Allocation
2014 CAPITAL ALLOCATION Capex Restructuring Remaining Ally lO Acquisition Remaining Series A Redemption Preferred Dividends Common Stock Dividends
Slide 12: Summary
SUMMARY a Taking advantage of strength in North America and China to restructure = Total EBIT-Adj.to be modestly improved — Improved underlying operating performance more than offsetting increased restructuring expense — EBIT-Adj. margin similar to last year = Execution of restructuring activities k
Slide 13: Executive Vice President & Chief Financial Officer
Executive Vice President & Chief Financial Officer
Slide 14: Chevrolet Corvette Stingray
CHEVROLET CORVETTE STINGRAY 2014 NORTH AMERICAN CAR OF THE YEAR GM NORTH AMERICA
Slide 15: 2013 North American Car of the Year
2013 NORTH AMERICAN CAR OF THE YEAR
Slide 16: Chevrolet Impala
CHEVROLET IMPALA CONS UMER REPORTS TOP SEDAN
Slide 17: Chevrolet Silverado
CHEVROLET SILVERADO CONSUMER REPORTS BEST TRUCK
Slide 18: Cadillac CTS
CADILLAC CTS 2014 MOTOR TREND CAR OF THE YEAR MOTOR TREND OF THE YEAR| 2014 f= 9 ie cts
Slide 19: 2013 Accomplishments
2013 ACCOMPLISHMENTS = Successful launch of new Silverado/Sierra = Continued recognition of product excellence = Received most JD Power IQS awards a H2 inflection point in earnings/margin growth = Grew retail share in all four brands
Slide 20: And Momentum Continues in 2014 Led by Great Products
AND MOMENTUM CONTINUES IN 2014 LED BY GREAT PRODUCTS... KEY 2014 LAUNCHES... 4
Slide 21: 2014 GMNA Outlook
2014 GMNA OUTLOOK U.S. industry of 16M - 16.5M units (light) Volume ‘ ~- a Expect modest share increase Mix = Driven by new vehicle launches — Cadillac CTS, 4+ Corvette, Impala & Full-Size Trucks = Favorable price on new vehicles Price a Unfavorable price on carryover vehicles ey = Overall favorable
Slide 22: Our Path to 10% EBIT Margins
OUR PATH TO 10% EBIT MARGINS... 210% 8% ~7.5% “iz 2010-2012 Product 2013CYTD Product Cost Business Mid- Thru Q3 Model Decade Leverage WE ARE IN EXECUTION MODE...
Slide 23: Summary
SUMMARY a Great products/great launches in 2013 a H2 2013 critical inflection point for earnings a 2014 represents another important step a Key is execution... SOLID PLAN... DEMONSTRATED EXECUTION DISCIPLINE TO DATE... MORE TO DO...
Slide 24: GM Europe
GM EUROPE
Slide 25: Outstanding Recent Portfolio Entries
OUTSTANDING RECENT PORTFOLIO ENTRIES Mokka = Cascada
Slide 26: 2013 Accomplishments
2013 ACCOMPLISHMENTS a First Opel/Vauxhall market share increase in 14 years = Successful launch of Mokka, ADAM and Cascada = Year-over-year revenue increase second half of 2013 = Significant year-over-year reduction of EBIT losses a Integration of captive financial services in Europe = Bochum vehic
Slide 27: 2014 GME Outlook
2014 GME OUTLOOK Expecting moderate industry recovery Voli mate = Modest share increases vs. 2013 = Pressure on price remaining = FX headwinds rete Favorable country mix _ = Continued industry downsizing trends = Continued performance on material cost/core Cost fixed cost = Restructuring costs up =
Slide 28: 2014... A Transition Year
2014... ATRANSITION YEAR % of Deliveries New or Refreshed Within 18 Months 100% Carryover Vehicles New Vehicles 22% 718% 2013 12% 88% 2014 34% 66% 2015
Slide 29: Looking Forward
LOOKING FORWARD 2015 GME Outlook a Very strong portfolio with new key volume models a Powertrain line-up completely renewed = Improved manufacturing footprint with Bochum closure Mid-Decade Target a Full benefit of Opel/Vauxhall portfolio refresh in 2015/16 timeframe = Tailwind from Chevrolet Europe
Slide 30: Summary
SUMMARY = 2013: Stabilization of market share and significant EBIT improvements y-o0-y a 2014: Transition year — Stable core operating performance... adverse impacts of challenges in Russia and further restructuring a Breakeven by mid-decade
Slide 31: GM International Operations
GM INTERNATIONAL OPERATIONS
Slide 32: 2013 Accomplishments
2013 ACCOMPLISHMENTS a Continued strength in China... sold over 3 million units a Leadership transition — Consolidated International Operations — China a Aggressively addressed challenges but more to do — Chevrolet Europe and Australia
Slide 33: Key 2014 Launches — China
KEY 2014 LAUNCHES — CHINA Cadillac ATS a
Slide 34: Key 2014 Launches - CIO
KEY 2014 LAUNCHES - ClO CEA ~ 4 iT Soe
Slide 35: 2014 GMIO Outlook
2014 GMIO OUTLOOK Moderate industry growth... up ~3%... primarily China Volume : : : 4h = China volume up... Consolidated Operations volume down Mix = Reduced Middle East Operations related to launches Sd . = Full-Size truck launch in Middle East partially rice offset by pressure in other markets *
Slide 36: 2015 GMIO Outlook
2015 GMIO OUTLOOK = Strong China growth... modest recovery in Consolidated Operations markets a Positive “carryover” from 2014 launches in China a Richer mix in Consolidated Operations — primarily Full-Size truck in the Middle East a Improved China earnings — volume & mix a Improved consolidated ear
Slide 37: Summary
SUMMARY = 2013 was a tough year, but addressed significant restructuring needs... more to do Need to regain momentum in 2014 and execute restructuring Will be well positioned for improved performance by mid-decade — China growth — Consolidated Operations restructuring benefit
Slide 38: GM South America
Slide 39: 2013 Accomplishments
2013 ACCOMPLISHMENTS = Second consecutive profitable year driven by... — Product launches performing across the region... Brazil continued share gains — Continuing to address cost side... Multi-year labor agreements in Brazil and further restructuring — Managing thru the region volatility... FX pres
Slide 40: Chevrolet Prisma
Slide 41: Chevrolet Onix
Slide 42: Chevrolet Tracker
CHEVROLET TRACKER
Slide 43: 2014 GMSA Outlook
2014 GMSA OUTLOOK = Industry expected flat or down slightly Volume ois Ky = Maintain share Mix = New portfolio volume up, legacy down 4+ Price a Offset FX and economics 4+ Cost = FX and economics impact expected to continue ae EBIT-Adj. ae i - Represents Trend vs. 2013
Slide 44: Update on Mid-Decade Target
UPDATE ON MID-DECADE TARGET Right Material & Manage Products Logistics Risk = Continue = Manufacturing m= Localization = Organizational “Abeahe footprint Bormize agility P a SG&A supply chain = Rationalize legacy ..Continuing to execute our mid-decade target toward mid-single digits margins
Slide 45: Summary
SUMMARY a 2013...second consecutive profitable year = Product portfolio well accepted in the market... continue refreshing with special editions a Continue executing turnaround in 2014 a Maintaining mid-single digits margin target for mid-decade But significant volatility risk in Venezuela and Argen
Slide 46: 2014 GM Outlook
2014 GM OUTLOOK = Taking advantage of strength in North America and China to fund restructuring elsewhere — Core operating performance remains on plan — Significant FX challenges, partially offset with price — GMF earnings flat a Total EBIT-Adj. to be modestly improved — Improved underlying operatin
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General Motors — Deutsche Bank 2014 Global Auto Industry Conference on 6ix