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Gm Events & Presentations Credit Suisse Group International Investor Conference At The Paris Motor Show
- 1. 2008 Paris Auto Show L. Foulds October 2, 2008
Forward Looking Statements
In this presentation and in related comments by our management, our use of the
In this presentation and in related comments by our management, our use of the
words “expect,” “anticipate,” “estimate,” “goal,” “target,” “believe,” “improve,”
words “expect,” “anticipate,” “estimate,” “goal,” “target,” “believe,” “improve,”
“intend,” “potential,” “continue,” “designed,” “opportunity,” “risk,” “may,” “would,”
“intend,” “potential,” “continue,” “designed,” “opportunity,” “risk,” “may,” “would,”
“could,” “should,” “project,” “projected,” “positioned” or similar expressions is
“could,” “should,” “project,” “projected,” “positioned” or similar expressions is
intended to identify forward-looking statements that represent our current
intended to identify forward-looking statements that represent our current
judgment about possible future events. We believe these judgments are reasonable,
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
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. The most
actual results may differ materially due to a variety of important factors. The most
recent reports on SEC Forms 10-K, 10-Q and 8-K filed by us or GMAC provide
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
information about these and other factors, which may be revised or supplemented
in future reports to the SEC on those forms.
in future reports to the SEC on those forms.
Industry and market data contained in this presentation is based on internal GM
Industry and market data contained in this presentation is based on internal GM
market and industry analysis. Although management believes this data is reliable as
market and industry analysis. Although management believes this data is reliable as
of its respective dates, this data has not been independently verified and we cannot
of its respective dates, this data has not been independently verified and we cannot
assure you as to accuracy or completeness of this data.
assure you as to accuracy or completeness of this data.
Unless specifically required by law, we assume no obligation to update or revise
Unless specifically required by law, we assume no obligation to update or revise
these forward-looking statements to reflect new events or circumstances.
these forward-looking statements to reflect new events or circumstances.
© 2008 General Motors Corporation. All Rights Reserved 1
- 2. 2008 Paris Auto Show L. Foulds October 2, 2008
Laurie Foulds
Executive Director, GM Europe Sales,
Executive Director, GM Europe Sales,
Marketing & Aftersales Finance
Marketing & Aftersales Finance
© 2008 General Motors Corporation. All Rights Reserved 2
- 3. 2008 Paris Auto Show L. Foulds October 2, 2008
Agenda
Current Market Challenges
GME H1 2008 Highlights
Key GME Initiatives – 2008 Status
Conclusion
© 2008 General Motors Corporation. All Rights Reserved 3
- 4. 2008 Paris Auto Show L. Foulds October 2, 2008
European Industry Vehicle SAAR
© 2008 General Motors Corporation. All Rights Reserved 4
- 5. 2008 Paris Auto Show L. Foulds October 2, 2008
European Industry Regional Growth
© 2008 General Motors Corporation. All Rights Reserved 5
- 6. 2008 Paris Auto Show L. Foulds October 2, 2008
Challenging European Market Conditions
Significant decline in consumer confidence in
key markets
– Housing market and credit tightness impacting
consumer behavior in UK
– Inflation concerns dampening German demand
– Severe economic slowdown in Spain
Recent economic events add volatility to
emerging economies
Uncertainty over CO2 taxation
© 2008 General Motors Corporation. All Rights Reserved 6
- 7. 2008 Paris Auto Show L. Foulds October 2, 2008
European Industry Vehicle Sales Mix
© 2008 General Motors Corporation. All Rights Reserved 7
- 8. 2008 Paris Auto Show L. Foulds October 2, 2008
European Market Trends
Emerging markets (Central Eastern Europe
region, including Russia) key drivers of growth
Slow decline in key mature WE markets
Shift in the mix towards fuel efficient vehicles
Continued intense price competition
Intense regulatory pressure
© 2008 General Motors Corporation. All Rights Reserved 8
- 9. 2008 Paris Auto Show L. Foulds October 2, 2008
GME – H1 2008 Highlights
All-time record sales of 1,161K units
– Increase of 32k units compared to H1 2007
Record Chevrolet sales
– 268k units in H1 -- up 24% YOY
Growth in Russia -- up 60% YOY
© 2008 General Motors Corporation. All Rights Reserved 9
- 10. 2008 Paris Auto Show L. Foulds October 2, 2008
GME Market Share Performance
% of Total European Market
1st Half Year
st
© 2008 General Motors Corporation. All Rights Reserved 10
- 11. 2008 Paris Auto Show L. Foulds October 2, 2008
GME – Key Data
’08
O/(U)
H1 ’08 H1 ’07 ’07
Industry Sales (000’s) 12,227 11,848 +3.2%
Includes
Includes
GME Sales (000’s) 1,161 1,129 +2.8% Chevrolet
Chevrolet
GME Share 9.5% 9.5% ~ flat
Revenue ($B) 20.5 18.0 +13.9%
Excludes
Excludes
Adjusted EBT ($B) 0.3 0.4 (0.1) Chevrolet
Chevrolet
Adjusted EBT Margin 1.5% 2.3% (0.8) p.p.
Refer to Supplemental Charts in our earnings presentation on GM’s Investor website for reconciliation to GAAP figures
© 2008 General Motors Corporation. All Rights Reserved 11
- 12. 2008 Paris Auto Show L. Foulds October 2, 2008
GME Adjusted Earnings Before Tax
H1 Analysis
Refer to Supplemental Charts in our earnings presentation on GM’s Investor website for reconciliation to GAAP figures
© 2008 General Motors Corporation. All Rights Reserved 12
- 13. 2008 Paris Auto Show L. Foulds October 2, 2008
Key GME Initiatives – 2008 Status
Excellence in product execution
Multi-brand strategy
– Continuing Chevrolet growth
– Continuing Chevrolet growth
Growth focused on Central & Eastern European
markets and Russia
Systematic revenue and contribution margin
management
Restructuring of cost footprint
© 2008 General Motors Corporation. All Rights Reserved 13
- 14. 2008 Paris Auto Show L. Foulds October 2, 2008
GME Performance in Central & Eastern Europe
Region Exceeding Industry
© 2008 General Motors Corporation. All Rights Reserved 14
- 15. 2008 Paris Auto Show L. Foulds October 2, 2008
GME – Emerging Markets (Russia)
© 2008 General Motors Corporation. All Rights Reserved 15
- 16. 2008 Paris Auto Show L. Foulds October 2, 2008
Chevrolet in Europe
© 2008 General Motors Corporation. All Rights Reserved 16
- 17. 2008 Paris Auto Show L. Foulds October 2, 2008
Revenue and Contribution Margin Initiatives
Improving quality of sales
– Focus on retail and profitable fleet sales
– Focus on Residual Value by resizing
short-cycle volume
Growth via portfolio renewal
– Insignia flagship, first in wave of new
Opel products
© 2008 General Motors Corporation. All Rights Reserved 17
- 18. 2008 Paris Auto Show L. Foulds October 2, 2008
Quality Continuously Improving
Customer Complaints
Source: Internal customer survey/Top 5 major markets in Europe
© 2008 General Motors Corporation. All Rights Reserved 18
- 19. 2008 Paris Auto Show L. Foulds October 2, 2008
GME Manufacturing Capacity Distribution
% of Finished Unit Production Capacity
2006 1
1 2008 2
2
1 2
Opel/Vauxhall, SAAB, GM-Avtovaz Includes GM-Uzbekistan and FSO
© 2008 General Motors Corporation. All Rights Reserved 19
- 20. 2008 Paris Auto Show L. Foulds October 2, 2008
Headcount Development
© 2008 General Motors Corporation. All Rights Reserved 20
- 21. 2008 Paris Auto Show L. Foulds October 2, 2008
Productivity Improvement
© 2008 General Motors Corporation. All Rights Reserved 21
- 22. 2008 Paris Auto Show L. Foulds October 2, 2008
Conclusion
Short-term focus
Improvement in quality of sales
Excellent execution of Insignia launch
Mid-term focus
Next wave of portfolio renewal
Continued growth under the multi-brand
model with emphasis on the Emerging Markets
Realignment of the cost footprint
Re-inventing the automobile
© 2008 General Motors Corporation. All Rights Reserved 22
- 23. 2008 Paris Auto Show L. Foulds October 2, 2008
© 2008 General Motors Corporation. All Rights Reserved 23