1. Restructuring Plan for Long-term Viability
December 3, 2008

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,” “ensure,” “continue,” “designed,” “opportunity,” “risk,”
“may,” “will,” “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.
Our most recent reports on SEC Forms 10-K, 10-Q and 8-K provide
information about these and other factors, which may be revised or
supplemented in future reports to the SEC on those forms. Unless
specifically required by law, we assume no obligation to update or revise
these forward-looking statements to reflect new events or circumstances.
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3. Restructuring Plan Overview
• On December 2, 2008 GM submitted its detailed restructuring plan
including rationale for and use of temporary Government funding
• Proposed restructuring plan will create lean, profitable, self-
sustaining and fully competitive GM, committed to:
– Full compliance with the 2007 Energy Independence and Security Act
– Advanced vehicle technologies to reduce petroleum dependency and
greenhouse gas emissions
• Major principles of the restructuring plan include accelerated
emphasis on:
– Reduction in brands, nameplates & retail dealers
– Full labor cost competitiveness with foreign manufacturers in the U.S.
by 2012
– Changes to VEBA related obligations
– Balance sheet deleveraging / restructuring
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4. Refocused Brand, Nameplate and Distribution Strategy
• Plan to focus substantially all product development and marketing
resources to support 4 core brands - Chevrolet, Cadillac, Buick and
GMC
– Resulting in improved awareness, sales and customer satisfaction
• Continue recent efforts to combine Buick, Pontiac and GMC brands
into single dealer distribution network
– Approximately 80% of combined sales currently sold through BPG-
branded stores
– Pontiac will serve as specialty niche vehicle with reduced offerings
intended to complement Buick and GMC models
• In addition to previously announced HUMMER strategic review, GM
will undertake and expedite strategic review of the Saab brand
globally
• Plan to accelerate discussion with Saturn retailers and explore
alternatives for the Saturn brand
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5. Retail and Distribution Strategy
• Number of U.S. dealers has declined by ~1,700 since 2000
• Consistent with focus on 4 core brands, further consolidations in
U.S. dealer network planned
– Plan additional reduction in U.S. dealers by 2012 of ~1,800
– Reductions primarily focused on those dealers operating in metropolitan
and suburban areas
– Distribution strength in rural areas will be largely preserved
• Annual throughput for remaining U.S. dealers expected to increase
– More competitive with other high-volume manufacturers
– Facilitating more profitable and stronger U.S. dealer network
2000 2004 2008 2012
U.S. Marketing & Dealer Operations Actual Actual Fcst Plan
GM Dealer Count (Locations) 8,138 7,497 6,450 4,700
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6. Product Strategy
• Focus on fuel efficient passenger cars and crossovers in future
product portfolio
– 22 of next 24 new vehicle introductions in 2009 – 2012 will be cars and
crossovers
– 15 hybrid models by 2012, versus 6 in 2008
• $2.9B investment in alternative fuel and advanced propulsion
technologies in 2009 – 2012
– Involve partnerships
– Use of Section 136 funding
• Focus on global product development and global vehicle
architectures
– 68% of GM U.S. sales volume derived from new global architectures by
2012
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7. U.S. Hourly Manufacturing Cost
• Reduced U.S. hourly manufacturing cost by ~$10.3 billion from 2003
to 2008
– Cost reductions result from productivity improvements and reductions in
post-employment health care expense, as well as volume declines
• Expect additional $3.6 billion reduction by 2012
– Effect of UAW 2007 VEBA / health care agreement
– Further assembly plant consolidations, attrition and productivity
improvements
– Additional wage & benefit changes to be negotiated including current
job security provisions, paid time off and other operating measures
• Under current plan, GM’s wages and benefits for both current
workers and new hires will be fully competitive with Toyota in the
U.S. by 2012
– Comprehends recently negotiated wage rates, workforce turnover,
planned assembly plant consolidations, further productivity
improvements included in the plan and additional changes to be
negotiated
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8. Balance Sheet & VEBA Restructuring
• In addition to liquidity measures, plan includes and is conditioned
upon significant deleveraging of GM’s balance sheet
• Proposed restructuring of balance sheet will significantly improve
GM’s creditworthiness and enable access to non-government
funding once credit markets open
• Plan preserves the status of existing trade creditors and honors
terms and provisions of all outstanding warranty obligations to both
consumers and dealers
• GM will immediately engage current lenders and bondholders and
its unions to satisfactorily negotiate the changes necessary to
achieve planned capital structure
Projected Pro-Forma
$ Billions Dec 31, 2008 Dec 31, 2008
Total Debt, Incl. VEBA-Related @ 9% Disc Rate 62.0 ~30.0
Book Equity (65.1) ~(32.0)
U.S. Government Funding 4.0 4.0
Trade Payables 27.8 27.8
Warranty Obligations (Global) 9.0 9.0
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9. Proposed Governmental Support
• $4B immediate loan to provide minimum liquidity levels through
December 31, 2008
• Second draw in January 2009, of up to $4B to provide adequate
liquidity balance through January 31, 2009
• Total term loan facility of up to $12B, including initial December and
January draws to provide minimum liquidity in baseline scenario
through December 31, 2009
• $6B committed line of credit to provide adequate liquidity under
more severe U.S. industry conditions
• Creation of Federal Oversight Board to:
– Monitor and authorize draws, including timing, amounts and
performance metrics consistent with the plan
– Support and facilitate an expedited, successful restructuring, while
protecting taxpayer investments
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10. Summary
• Plan encompasses operational and financial restructuring
– Reduction in brands, nameplates & retail outlets
– Full labor cost competitiveness with foreign manufacturers in the U.S.
by 2012
– Changes to VEBA related obligations
– Balance sheet deleveraging / restructuring
• Expect GMNA breakeven on EBIT basis to be between 12.5 – 13.0
million unit U.S. industry after restructuring actions
• Forecast GM Automotive earnings before tax to be positive by 2011
post-restructuring actions, assuming baseline industry volume
assumptions
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