Exhibit 12.1

GENERAL MOTORS COMPANY AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

(Dollars in millions)

	Successor						Predecessor
	Six Months Ended June 30, 2010			July 10, 2009 Through December  31, 2009			January 1, 2009 Through July 9, 2009			Years Ended December 31,
										2008			2007			2006			2005
Income (loss) from continuing operations before income taxes and equity income	$	2,864		$	(5,283	)	$	107,776	(a)	$	(29,471	)	$	(6,346	)	$	(5,743	)	$	(17,308	)
Fixed charges included in income (loss) from continuing operations Interest and related charges on debt		571			707			5,444			2,659			3,399			17,029			15,685
Portion of rentals deemed to be interest		73			72			104			264			230			346			288
Interest capitalized in period		29			26			28			244			24			44			45
Total fixed charges included in income (loss) from continuing operations		673			805			5,576			3,167			3,653			17,419			16,018
Amortization of capitalized interest		1			—			46			77			48			51			47
Equity (income) loss of Ally Financial, Inc.		—			—			(1,380	)		6,183			1,245			5			—
Dividends from nonconsolidated associates		309			422			112			440			693			366			703
Interest capitalized		(29	)		(26	)		(28	)		(244	)		(24	)		(44	)		(45	)
Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges		—			—			—			—			—			—			—
Earnings (losses) available for fixed charges	$	3,818		$	(4,082	)	$	112,102		$	(19,848	)	$	(731	)	$	12,054		$	(585	)
Fixed charges included in income (loss) from continuing operations (see above)	$	673		$	805		$	5,576		$	3,167		$	3,653		$	17,419		$	16,018
Preferred dividends		405			131			—			—			—			—			—
Preferred dividends grossed up to a pre-income tax basis		582			162			—			—			—			—			—
Combined fixed charges and preferred dividends	$	1,255		$	967		$	5,576		$	3,167		$	3,653		$	17,419		$	16,018
Ratios of earnings to fixed charges		5.67						20.10									0.69
Ratio of earnings to combined fixed charges and preferred stock dividends		3.04						20.10									0.69

Earnings for the period July 10, 2009 through December 31, 2009 and the years ended December 31, 2008, 2007 and 2005 were inadequate to cover fixed charges. Additional earnings of $5.0 billion, $23.0 billion, $4.4 billion and $16.6 billion for the periods July 10, 2009 through December 31, 2009 and the years ended December 31, 2008, 2007 and 2005 would have been necessary to bring the respective ratios to 1.0.

(a) Earnings for the period January 1, 2009 through July 9, 2009 include reorganization gains, net of $128.2 billion.