Slide 1: General Motors Company Q2 2012 Results
General Motors Company Q2 2012 Results August 2, 2012 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: Second Quarter 2012 Performance
Second Quarter 2012 Performance 2 Q2 ‘11 Q2 ‘12 vs. Q2 ‘11 Global Deliveries 2.3M 2.4M Net Revenue $39.4B $37.6B Net Income to Common $2.5B $1.5B Net Cash from Operating Activities - Automotive $5.0B $3.8B EBIT- Adjusted $3.0B $2.1B - GMNA $2.2B $2.0B - GME $0.1B $(0.4)B - GMIO $0.6B $0.6B - - GMSA
Slide 4: Second Quarter 2012 Highlights
Second Quarter 2012 Highlights • GMNA – Began sales of Cadillac XTS, 2013 Malibu 4-cylinder – Chevrolet Spark, Malibu Turbo in Q3 – Pension lump sums and annuitization • GME – German labor negotiations / Ellesmere Port agreement – New leadership team – Announced Adam urban car, Mokka in production –
Slide 5: Summary of Q2 2012 Results
Q2 2011 Q2 2012 GAAP Net Revenue ($B) 39.4 37.6 Operating Income ($B) 2.5 1.8 Net Income to Common Stockholders ($B) 2.5 1.5 EPS – Diluted ($/Share) 1.54 0.90 Net Cash from Operating Activities – Automotive ($B) 5.0 3.8 Non- GAAP EBIT- Adjusted ($B) 3.0 2.1 EBIT- Adjusted % Revenue 7.5% 5.6% Automot
Slide 6: Impact of Special Items
5 Q2 2011 Q2 2012 Net Income to Common Stockholders ($B) 2.5 1.5 EPS – Diluted ($/Share) 1.54 0.90 Included in Above ($B): None - - Total Impact Net Income to Common Stockholders ($B) - - Total Impact EPS – Diluted ($/Share) - - Impact of Special Items
Slide 7: Q2 EBIT-Adjusted by Segment
2.2 0.1 0.6 0.1 0.1 (0.2) 3.0 2.0 (0.4) 0.6 0.0 0.2 (0.2) 2.1 GMNA GME GMIO GMSA GM Financial* Corp. / Elims Total GM EBIT- Adjusted ($B) Q2 2011 Q2 2012 Note: Results may not foot due to rounding 6 Q2 EBIT- Adjusted * GM Financial at an Earnings Before Tax basis (EBT)
Slide 8: Consolidated EBIT-Adjusted Trend
0.0 1.0 2.0 3.0 4.0 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Consolidated EBIT- Adjusted ($B) Revenue ($B) 39.4 36.7 38.0 37.8 37.6 Oper. Inc % Rev 6.2% 4.9% 1.2% 2.6% 4.8% EBIT- Adj. % Rev 7.5% 6.0% 2.9% 5.8% 5.6% Production (000’s) 2,400 2,221 2,319 2,424 2,393 Global Share 12.3% 12.1% 11.6% 11.2%
Slide 9: Consolidated EBIT-Adj. Q2 2011 vs. Q2 2012
Consolidated EBIT- Adj. – Q2 2011 vs. Q2 2012 Q2 2011 Q2 2012 $0.9B Decrease 8 Note: EBIT- Adjusted includes GM Financial on an Earnings Before Tax (EBT) basis EBIT-Adj. EBIT-Adj. Volume Price Cost Other Mix (0.1) 0.3 (0.4) (0.7) 3.0 2.1 0.0 ($B)
Slide 10: Key GMNA Performance Indicators
2,500 3,000 3,500 4,000 4,500 5,000 5,500 6% 8% 10% 12% 14% 16% 18% 20% 22% Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Key GMNA Performance Indicators Avg. U.S. Retail Incentive as % of ATP GM % 8.7 8.9 8.7 9.7 10.1 9.8 8.9 10.7 10.4 10.0 10.1 11.0 11.0 11.0 10.7 9.9 GM vs. Ind. (GM % / Ind. %) 0.99 1.
Slide 11: GMNA EBIT-Adjusted
(1.0) 0.0 1.0 2.0 3.0 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 GMNA EBIT- Adjusted ($B) Revenue ($B) 23.1 21.9 23.1 24.2 22.9 EBIT- Adj. % Rev 9.7% 10.0% 6.5% 7.0% 8.6% U.S. Dealer Inv (000’s) 605 558 583 713 701 Production (000’s) 824 740 739 862 837 GMNA Share 19.1% 18.8% 17.5% 16.7% 17.4% 10 2.2 2
Slide 12: GMNA EBIT-Adj. Q2 2011 vs. Q2 2012
GMNA EBIT- Adj. – Q2 2011 vs. Q2 2012 Q2 2011 Q2 2012 $0.3B Decrease 0.0 0.0 0.1 (0.3) 2.2 2.0 11 (0.1) EBIT-Adj. EBIT-Adj. Volume Price Cost Other Mix ($B) Note: Results may not foot due to rounding
Slide 13: GME EBIT-Adjusted
(1.0) 0.0 1.0 2.0 3.0 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 GME EBIT- Adjusted ($B) Revenue ($B) 7.5 6.2 6.3 5.5 5.9 EBIT- Adj. % Rev 1.4% (4.7)% (9.0)% (4.6)% (6.1)% Production (000’s) 326 270 249 292 230 GME Share 9.0% 8.8% 8.5% 8.2% 8.8% 12 0.1 (0.3) (0.6) (0.3) (0.4)
Slide 14: GME EBIT-Adj. Q2 2011 vs. Q2 2012
GME EBIT- Adj. – Q2 2011 vs. Q2 2012 Q2 2011 Q2 2012 $0.5B Decrease 0.0 (0.1) (0.1) (0.2) 0.1 (0.4) 13 (0.1) EBIT-Adj. EBIT-Adj. Volume Price Cost Other Mix ($B)
Slide 15: GMIO EBIT-Adjusted
0.4 0.4 0.3 0.4 0.3 (1.0) 0.0 1.0 2.0 3.0 GMIO EBIT- Adjusted ($B) Revenue ($B) EBIT-Adj. margin from consolidated operations* Total China JV NI/Rev** 6.4 3.6% 11.1% 6.1 (0.6)% 10.5% 7.0 1.5% 8.4% 6.1 2.1% 10.2% 6.9 4.3% 9.3% Total Production (000’s) 1,003 968 1,104 1,067 1,095 GMIO Share 9.8% 9.6%
Slide 16: GMIO EBIT-Adj. Q2 2011 vs. Q2 2012
GMIO EBIT- Adj. – Q2 2011 vs. Q2 2012 Q2 2011 Q2 2012 $0.0B Increase 0.2 0.1 (0.1) (0.2) 0.6 0.6 15 0.0 EBIT-Adj. EBIT-Adj. Volume Price Cost Other Mix ($B)
Slide 17: GMSA EBIT-Adjusted
(1.0) 0.0 1.0 2.0 3.0 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 GMSA EBIT- Adjusted ($B) Revenue ($B) 4.4 4.4 4.2 3.9 4.2 EBIT- Adj. % Rev 1.4% (1.0)% (5.4)% 2.1% (0.5)% Production (000’s) 247 243 227 203 231 GMSA Share 19.3% 18.7% 18.4% 18.3% 18.2% 0.1 0.0 16 (0.2) 0.1 0.0
Slide 18: GMSA EBIT-Adj. Q2 2011 vs. Q2 2012
GMSA EBIT- Adj. – Q2 2011 vs. Q2 2012 Q2 2011 Q2 2012 $0.1B Decrease 0.1 0.0 (0.2) (0.1) 0.1 0.0 17 0.1 EBIT-Adj. EBIT-Adj. Volume Price Cost Other Mix ($B) Note: Results may not foot due to rounding
Slide 19: Automotive Free Cash Flow – Q2 2011 vs. Q2 2012
Automotive Free Cash Flow – Q2 2011 vs. Q2 2012 ($B) Q2 2011 Q2 2012 Net Income to Common Stockholders 2.5 1.5 Add-back Non-Controlling Interests, Preferred Dividends & undistributed earnings allocated to Series B 0.5 0.4 Deduct Non-Auto (GM Financial) (0.2) (0.1) Automotive Income 2.9 1.8 Special I
Slide 20: Key Automotive Balance Sheet Items
Key Automotive Balance Sheet Items ($B) Jun. 30 2011 Mar. 31 2012 Jun. 30 2012 Cash & marketable securities 33.8 31.5 32.6 Available Credit Facilities 5.9 5.9 5.8 Available Liquidity 39.7 37.3 38.5 Key Obligations: Debt 4.7 5.4 5.1 Series A Preferred Stock 5.5 5.5 5.5 U.S. Pension Underfunded Status
Slide 21: GM Financial Sales Penetration and Performance
GM Financial Q2 2011 Q2 2012 Industry Avg. (Excl. GM) Q2 2011 Q2 2012 GM Sales Penetrations U.S. Subprime (<=620) 6.9% 8.7% 5.2% 5.9% U.S. Lease 13.5% 15.3% 21.2% 21.9% Canada Lease 8.6% 8.0% 19.2% 17.9% GM / GM Financial Linkage GM as % of GM Financial Consumer Originations (GM New / GMF Loan & Lea
Slide 22: 2012 Outlook
2012 Outlook 21 • Expect U.S. light vehicle sales 14.0 - 14.5 million for year • Continue to expect average of GMNA Q2 and Q3 EBIT- adjusted to be comparable to Q1 – Q2 strength due to timing of spending deferred to Q3 • Europe continues to be very challenging environment
Slide 23: Select Supplemental Financial Information
General Motors Company Select Supplemental Financial Information
Slide 24: Global Deliveries
Global Deliveries Note: GM deliveries include vehicles sold around the world under GM and JV brands, and through GM-branded distribution network. S1 (000’s) Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 GMNA 784 746 712 704 820 GME 488 412 415 398 454 Chevrolet in GME 145 131 138 122 155 GMIO 775 811 844
Slide 25: Global Market Share
Global Market Share Note: GM market share include vehicles sold around the world under GM and JV brands, and through GM-branded distribution network. Market share data excludes the markets of Iran, North Korea, Sudan and Syria S2 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 GMNA 19.1% 18.8% 17.5% 16.7% 1
Slide 26: Operating Income Walk to EBIT-Adjusted
Operating Income Walk to EBIT- Adjusted ($B) Q2 2011 Q2 2012 Operating Income 2.5 1.8 Equity Income 0.4 0.3 Non-Controlling Interests 0.0 (0.1) Non-Operating Income 0.2 0.1 Special Items 0.0 0.0 EBIT- Adjusted 3.0 2.1 S3 Note: Results may not foot due to rounding Note: EBIT-Adj. includes GM Financia
Slide 27: Reconciliation of EBIT-Adjusted
Reconciliation of EBIT- Adjusted ($B) Q2 2011 Q2 2012 Net Income to Common Stockholders 2.5 1.5 Add Back: Undistributed earnings allocated to Series B (Basic) 0.3 0.1 Dividends on Preferred Stock 0.2 0.2 Interest Expense / (Income) 0.0 0.0 Income Tax Expense (0.1) 0.2 Special Items: Total Special It
Slide 28: Restructuring (not included in special items)
Restructuring (not included in special items) ($B) Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 GMNA – Dealer Related 0.0 0.0 0.0 0.0 0.0 GMNA – Non-Dealer Related 0.0 (0.1) 0.0 (0.1) 0.0 Total GMNA 0.0 (0.1) 0.0 (0.1) 0.0 Total GME (0.1) (0.1) (0.2) 0.0 0.0 Total GMIO 0.0 0.0 0.0 0.0 0.0 Total GMSA 0.0
Slide 29: Reconciliation of Automotive Free Cash Flow
Reconciliation of Automotive Free Cash Flow ($B) Q2 2011 Q2 2012 Net cash provided by operating activities 5.1 3.9 Less net cash provided by operating activities-GM Financial 0.1 0.2 Automotive Net Cash Provided/(Used) Operating Activities 5.0 3.8 Capital expenditures (1.2) (2.1) Automotive Free Cas
Slide 30: GM Financial – Key Metrics
GM Financial – Key Metrics ($M) Q2 2011 Q2 2012 Earnings Before Tax 144 217 Total Loan and Lease Originations 1,522 1,884 GM New Vehicles as % of Total 38.0% 45.4% Total Commercial Lending to GM Dealers - 174 Consumer Finance Receivables 9,110 10,440 Delinquencies (>30 days)* 6.1% 5.6% Annualized Ne
Slide 31: Calculation of EBIT-Adj. as a Percent of Revenue
Calculation of EBIT- Adj. as a Percent of Revenue Total GM ($B) Q2 2011 % Q3 2011 % Q4 2011 % Q1 2012 % Q2 2012 % Revenue 39.4 36.7 38.0 37.8 37.6 Operating Income 2.5 6.2% 1.8 4.9% 0.5 1.2% 1.0 2.6% 1.8 4.8% EBIT- Adjusted 3.0 7.5% 2.2 6.0% 1.1 2.9% 2.2 5.8% 2.1 5.6% GMIO Consolidated Results ($B)