8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549-1004

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) July 15, 2008

GENERAL MOTORS CORPORATION

(Exact Name of Registrant as Specified in its Charter)

1-143
(Commission File Number) DELAWARE
(State or other jurisdiction of
incorporation) 38-0572515
(I.R.S. Employer
Identification No.)

300 Renaissance Center, Detroit, Michigan
(Address of Principal Executive Offices) 48265-3000
(Zip Code)

(313) 556-5000
(Registrant’s telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17-CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

	ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION
	ITEM 7.01 REGULATION FD DISCLOSURE
	ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
SIGNATURES
Press Release Dated July 15, 2008
Executive Management presentation to Media and Securities Analysts

ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On July 15, 2008, General Motors Corporation (GM) issued a news release announcing internal actions to strengthen liquidity by approximately $15 billion through the end of 2009. The release is incorporated as Exhibit 99.1.

ITEM 7.01 REGULATION FD DISCLOSURE

On July 15, 2008, GM’s G. Richard Wagner, Jr., Chairman and CEO, Frederick A. Henderson, President and Chief Operating Officer and Ray G. Young, Executive Vice President and Chief Financial Officer gave a presentation for the media and securities analysts entitled “Aligning the Business with Current Market Conditions.” The presentation is incorporated as Exhibit 99.2.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

EXHIBITS

Exhibits	Description	Method of Filing
Exhibit 99.1	Press Release Dated July 15, 2008	Attached as Exhibit
Exhibit 99.2	Executive Management presentation to Media and Securities Analysts, dated July 15, 2008, entitled “Aligning the Business with Current Market Conditions.”	Attached as Exhibit

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	GENERAL MOTORS CORPORATION (Registrant)
Date: July 15, 2008	By:	/s/Nick S. Cyprus
		Nick S. Cyprus, Controller and
		Chief Accounting Officer

EX-99.1

Exhibit 99.1

GM to Bolster Liquidity by $15 Billion through 2009

• Operating and related actions to generate approximately $10 billion in cash improvements

• More than 20 percent reduction in salaried employment cash costs

• Dividend on common stock suspended

• Asset sales and capital market activities to raise $4-7 billion of additional liquidity

DETROIT — General Motors Corp. (NYSE: GM) today announced it is taking further steps to adapt its business to rapidly changing market conditions, marked by the weak U.S. economy, record high fuel prices, shifts in consumer vehicle preferences, and the lowest U.S. industry sales volumes in a decade.

“We are responding aggressively to the challenges of today’s U.S. auto market,” said GM Chairman and CEO, Rick Wagoner. “We will continue to take the steps necessary to align our business structure with the lower vehicle sales volumes and shifts in sales mix. We remain committed to bringing to market great products that target changing consumer preferences for more fuel-efficient vehicles.” Wagoner noted that 11 of GM’s 13 most recent major U.S. product launches, and 18 of its next 19 launches, are cars and crossovers, which are key growth areas.

“Today’s actions, combined with those of the past several years, position us not only to survive this tough period in the U.S., but to come out of it as a lean, strong and successful company,” Wagoner said.

For liquidity planning purposes, GM is using assumptions of U.S. light vehicle industry volumes of 14.0 million units in 2008-2009 which are significantly below trend. Other planning assumptions include lower U.S. share of approximately 21 percent and continued elevated average oil price estimates ranging from $130 to $150 per barrel by 2009. Based on those assumptions, GM is taking actions to further reduce structural cost, and generate cash, with the goal of maximizing liquidity.

At the end of the first quarter 2008, GM had liquidity of $23.9 billion, with access to U.S. credit facilities of an additional $7 billion. While the company has ample liquidity to meet its 2008 funding requirements, it is taking additional measures to bolster liquidity to protect against a prolonged U.S. downturn. The actions include a combination of operating and related actions, as well as asset sales and capital market activities. The cumulative impact on cash through 2009 is projected to be approximately $15 billion.

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Operating and Other Actions

Through a number of internal operating changes and other actions, GM expects to generate approximately $10 billion of cumulative cash improvements by the end of 2009, versus original plans.

•	GM plans further salaried headcount reductions in the U.S. and Canada in the 2008 calendar year, which will be achieved through normal attrition, early retirements, mutual separation programs and other separation tools. In addition, health care coverage for U.S. salaried retirees over 65 will be eliminated, effective January 1, 2009. Affected retirees and surviving spouses will receive a pension increase from GM’s over funded U.S. salaried plan to help offset costs of Medicare and supplemental coverage. And there will be no new base compensation increases for U.S. and Canadian salaried employees for the remainder of 2008 and 2009.
	Beyond these moves, which also impact GM executives, additional actions are being taken. There will be no annual discretionary cash bonuses for the company’s executive group in 2008. With the elimination of the annual cash bonus, combined with GM’s long-term incentives which are driven by GM stock price performance to assure alignment with its stockholders, GM’s executive group will have a significant reduction in their cash compensation opportunity for 2008. For the company’s top executive officers, it represents a reduction in their cash compensation opportunity of 75 to 84 percent.
	These benefit changes, salaried headcount reductions and other related savings will result in an estimated reduction in cash costs of more than 20 percent, or $1.5 billion in 2009.
•	Additional structural cost reductions of approximately $2.5 billion are expected in GM North America (GMNA). The reductions will be partially achieved through further adjustments in truck capacity and related component, stamping and powertrain capacity in response to lower U.S. industry volume. Truck capacity is expected to be reduced by 300,000 units by the end of 2009, half of which is from acceleration of prior announced actions, and half from new capacity actions.
	In addition, GM will reduce and consolidate sales and marketing budgets, with a focus on protecting launch products and brand advertising. Engineering spending in 2008 and 2009 will be held at 2006-2007 levels, substantially lower than original plans. These operating actions, combined with the benefits of the 2007 GM-UAW labor agreement, are targeted to reduce North American structural cost from $33.2 billion in 2007 to approximately $26-27 billion in 2010, a reduction of $6-7 billion.

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•	GM is revising its capital spending plan and reducing approximately $1.5 billion in expenditures versus prior plans. Capital expenditures are now estimated to total $7 billion in 2009 versus prior plans of $8.5 billion (these figures do not include the $1 billion in capital spending planned in both 2008 and 2009 in China, which is self-funded by the GM joint ventures, to support growth in that market). A major part of the reductions is related to the delay of the next generation large pickup and SUV program, as well as V-8 engine development and associated capacity.
	Spending for non-product programs will also be significantly reduced, while powertrain spending will be increased to support the development of alternative propulsion and fuel economy technologies and small displacement engines. The revised 2009 capital spending plan is higher than the average capital expenditures in 2005-2007, excluding large pickup and SUV-related related spending. Excluding China, GM expects capital expenditures to run in the $7-7.5 billion range beyond 2009.
•	Aggressive actions are being taken to improve working capital by approximately $2 billion in North America and Europe, primarily related to the reduction of raw material, work-in-progress and finished goods inventory levels as well as lean inventory practices at parts warehouses.
•	GM will defer approximately $1.7 billion of payments that had been scheduled to be made to a temporary asset account over the balance of 2008 and 2009 for the establishment of the new UAW VEBA.
•	The GM Board of Directors has decided to suspend future dividends on common stock, effective immediately, which is expected to improve liquidity by approximately $800 million through 2009.

Asset Sales and Financing Activities

In addition to the operating changes and other actions, GM expects to raise additional liquidity of $4-7 billion through asset sales and financing activities.

• GM is undertaking a broad global assessment of its assets for possible sale or monetization, which is expected to generate approximately $2-4 billion of additional liquidity. The company believes there is significant liquidity potential from asset sales, without impacting the strategic direction of the company. Outside advisors are currently engaged in evaluating alternatives. A strategic analysis of the Hummer brand is underway, and GM is continuing to focus on profit improvement initiatives across all remaining GM brands.

• GM will continue to opportunistically access global markets to raise additional liquidity. The company is initially targeting at least $2-3 billion of financing. The company has gross unencumbered assets of over $20 billion, which could support a significant secured debt offering, or multiple offerings, that would far exceed the initial target. Examples of such assets include stock of foreign subsidiaries, brands, stake in GMAC, and real estate.

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Actions outlined today comprehend the anticipated impact of second quarter results, which the company plans to announce in the near future. GM anticipates it will report a significant second quarter loss, driven in part by the previously disclosed negative impact of the American Axle and local union strikes in North America, as well as the continued weakness in the U.S. auto market and adverse vehicle segment mix.

In addition, the company expects to record significant charges or expenses related to its previously announced hourly attrition program in the U.S., the recently announced North American truck capacity actions, valuation of GMAC stock, lease assets, Delphi recoveries, the American Axle settlement, the Canadian labor contract, and others.

GM is highly confident that the initiatives announced today, in conjunction with the current cash position and its $4-5 billion of committed U.S. credit lines, will provide the company with ample liquidity to meet its operational needs through 2009.

“The actions announced today are difficult decisions, but necessary to respond to the current auto market conditions,” said Wagoner. “Even under conservative planning scenarios, GM is well-positioned to withstand the U.S. market downturn and emerge a stronger company. We have a solid position in the rapidly growing emerging markets, a global operating framework that allows us to respond to changes in the U.S. market, a commitment to technology leadership, and an ever stronger and competitive product line-up.”

# # #

Contacts:
Reneé Rashid-Merem
313-665-3128 (office)
586-899-0971 (cell)
renee.rashid-merem@gm.com

Randy Arickx
313-667-0006 (office)
313-268-7070 (cell)
randy.c.arickx@gm.com

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Forward Looking Statements

In these and following presentations and in related comments by General Motors management, we will use words like “expect,” “anticipate,” “estimate,” “forecast,” “objective,” “plan,” “goal,” “project,” “outlook,” “targets,” and similar expressions to identify forward looking statements that represent our current judgments about possible future events. We believe these judgments are reasonable, but actual results may differ materially due to a variety of important factors.

Among other items, such factors include: our ability to realize production efficiencies, to reduce costs and implement capital expenditures at levels and times planned by management; market acceptance of our products; shortages of and price increases for fuel; significant changes in the competitive environment and the effect of competition on our markets, including on our pricing policies; our ability to maintain adequate liquidity and financing sources and an appropriate level of debt; the final results of investigations and inquiries by the SEC; court approval of the settlement agreement with the UAW and UAW retirees related to the 2007 national agreement; negotiations and bankruptcy court actions with respect to obligations owed to us by Delphi Corporation, a key supplier; possible downgrades for GMAC or ResCap by rating agencies; developments in the residential mortgage market, especially the nonprime sector; and changes in general economic conditions such as price increases or shortages of fuel, steel, or other raw materials.

GM’s most recent annual report on Form 10-K and quarterly report on Form 10-Q provide information about these factors, which we may revise or supplement in future reports to the SEC on Form 10-Q or 8-K.

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EX-99.2

Exhibit 99.2

Aligning The Business With Current Market Conditions July 15, 2008

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," "potential," "continue," "designed," "opportunity," "risk," "may," "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. The most 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 in future reports to the SEC on those forms. This presentation contains non U.S. GAAP numbers. For a reconciliation to U.S. GAAP numbers please refer to the supplemental charts in the earnings presentation on the General Motors Corp. ("GM") investor website at http://www.gm.com/corporate/investor_information/. 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 of its respective dates, this data has not been independently verified and we cannot assure you as to accuracy or completeness of this data. Unless specifically required by law, we assume no obligation to update or revise these forward-looking statements to reflect new events or circumstances. 1

Agenda Planning For A Tougher U.S. Environment Operating and Other Actions Asset Sales and Financing Activities Looking Ahead 2

Planning For A Changed U.S. Industry For liquidity planning purposes, GM using U.S. industry volumes significantly below trend for the next several years, lower U.S. market share, and continued elevated oil prices (1) Note: U.S. Light Industry excludes ~300K units per year of medium- and heavy-duty trucks 3 Key GMNA Liquidity Planning Assumptions 2007 2008E 2009E U.S. Light Industry (1) (Millions Units) 16.2 14.0 14.0 GM U.S. Share (% of Total Industry) 23.5% ~21% ~21% Average Oil Price ($/Bbl) $72 $120-140 $130-150

Conservative Planning For Large Truck Volumes Large pickup and SUV segments expected to shrink in U.S. as discretionary users switch to alternative vehicles However, large pickup segment should remain important for commercial and functional users 2006 2007 2008E 2009E Large PU: Commercial/Functional 0.103 0.106 0.09 0.09 Large PU: Discretionary 0.03 0.027 0.01 0.01 Large SUV (Incl. Luxury) 0.04 0.039 0.027 0.023 12.3% 12.7% Total Large Pickup Market 2.3 2.2 1.4 1.4 Total Large SUV Market 0.7 0.6 0.4 0.3 Memo: Oil Price ($/bbl) $66 $72 $120 - $140 $130 - $150 (units, millions) 17.2% 17.3% 4

Commodity Cost Impact & Mitigation Strategies Following large increases in 2005-2007, GMNA forecast based on year-over-year commodity cost headwinds of ~$1B in each of 2008 and 2009 Mitigation strategies include thrifting of precious metals and global application of common material specifications to leverage volume Commodity cost pressure offset by continued strong gross annual baseline material cost performance Cost management tools include global sourcing, supplier footprint optimization and leveraging of global architectures Nonetheless, commodity costs (including steel) creating significant inflationary pressure in industry cost base Also significant indirect impact of oil on freight and certain commodities 5

Material Cost Outlook - Total Automotive Despite commodity cost headwind, GM expects to deliver approximately $1B of net material performance in 2008 and 2009 6 Cost Decrease / (Increase) ($ billions) 2007 2008E 2009E Baseline Performance 2.5 2.2 2.5 Delphi Reductions 0.2 0.2 0.3 Commodities / Steel (1.3) ~(1.0) ~(1.2) Major Product Programs (1.5) (0.4) (0.4) Total Net Performance (0.1) 1.0 1.2

Agenda Planning For A Tougher U.S. Environment Operating and Other Actions Asset Sales and Financing Activities Looking Ahead 7

Operating And Other Actions In view of lower U.S. industry planning volumes, leaner truck mix and commodity price headwinds, GMNA in process of executing operating actions to mitigate negative impacts Operating actions focused on structural costs, salaried employment savings, capital spending and working capital In addition, other actions relate to the 2008-2009 UAW VEBA payments and the common dividend Combined would generate approximately $10B of cumulative cash improvements by YE2009 versus original plans 8

Structural Cost Actions in GMNA (~$2.5B) Further reductions in truck capacity and related component, stamping and powertrain capacity Approximately 300K unit reduction in manned truck capacity by YE2009, half of which is from acceleration of prior announcements and half of which are new capacity actions Shift patterns, line rates and facilities to be assessed after consultation with impacted constituents Reductions and consolidations in sales and marketing budgets with focus on protecting launch products and brand advertising Impacted areas include promotional budgets, event budgets, motorsports activities and back-office efficiencies Holding engineering spending in 2008 and 2009 at 2006/07 levels, but a substantial reduction versus original plan 9

Salaried Employment Savings (~$1.5B) More than 20% reduction in salaried employment cash costs, predominantly through: Salaried headcount reductions in U.S. and Canada through early retirements, mutual separation programs, normal attrition and other separation tools Post-65 salaried retiree health care coverage for U.S. retirees will be eliminated effective January 1, 2009 Pension increase from overfunded U.S. salaried plan to help offset cost No base compensation increases for U.S. and Canada salaried employees for remainder of 2008 and 2009 Elimination of discretionary cash bonuses for executive group in 2008 (would have been payable in 2009) 10

Capital Expenditure Reductions (~$1.5B) Planning capital expenditures of $8B(1) in 2008 and $7B in 2009, plus $1B per year through 2009 in China (self-funded by China JVs) 2009 spending of $7B is a ~$1.5B reduction from prior plan Major part of reduction related to delaying next generation large pickup and SUV programs, as well as V-8 engine development and capacity Significant reduction in non-product spending Increased powertrain spending for alternative propulsion, small displacement engines and fuel economy technologies Capital spending efficiency expected to improve as a result of announced capacity actions 2009 projected capital expenditures still greater than average annual 2005-2007 levels after excluding GMT 900 large pickups and SUVs Expect annual capital expenditures in the $7-7.5B range beyond 2009 (excluding China) 11 (1) Excludes $0.5B attributable to purchase of our headquarters building in Q2 2008

Working Capital Improvements (~$2B) Aggressive actions to improve working capital by approximately $2B in North America and Europe, primarily related to inventory GMNA and GME inventories to be reduced by $1.5B and $0.5B, respectively, from planned YE2008 levels Comprehensive review of inventory levels of raw materials, work in progress and finished goods inventories Reduce production buffers for products with sufficient dealer stock Lean inventory management practices at parts warehouses Lower levels of inventory due to lower industry sales 12

UAW 2008-09 VEBA Payments (~$1.7B) GM will defer approximately $1.7B of payments that had been scheduled to be made to a Temporary Asset Account over the balance of 2008 and 2009 Such deferrals accrue interest at 9%, per the settlement agreement UAW and class counsel agree this does not represent a change to the settlement agreement, which already provided that interest be paid on amounts not deposited on certain dates Upon implementation of the 2007 VEBA agreement in 2010, expect amounts owed to the new UAW VEBA to total approximately $7B, including the deferred amounts above and interest 13

Board Actions (~$0.8B) GM Board of Directors has decided to suspend future dividends, effective immediately 14

Summary Of Operating And Other Actions Cumulative cash impact of these operating and other actions through YE2009 targeted to be approximately $10B versus original plan Cash Impact Through YE2009 GMNA Structural Cost ~$2.5B Salaried Employment Savings ~$1.5B Capital Expenditure Reductions ~$1.5B Working Capital Improvements ~$2.0B UAW VEBA Payment Deferrals ~$1.7B Dividend Suspension ~$0.8B Total ~$10B 15

Agenda Planning For A Tougher U.S. Environment Operating and Other Actions Asset Sales and Financing Activities Looking Ahead 16

Asset Sales (~$2-4B) Undertaking broad global assessment of assets for potential sale or monetization Significant liquidity possible from asset sales without impacting strategic direction of company Outside advisors currently engaged in analysis Will provide update at appropriate time With regard to brands, strategic analysis underway for HUMMER We continue to focus on profit improvement initiatives across all remaining brands 17

Capital Markets Activities (~$2-3B) Will continue to access global capital markets on an opportunistic basis Targeting at least $2-3B of financing Gross unencumbered assets of over $20B could support secured debt financing significantly in excess of this amount Examples of unencumbered assets include stock of foreign subsidiaries, brands, stake in GMAC, and real estate 18

Summary Of Actions We are confident that these actions totaling ~$15B, when combined with access to $4.5 billion of committed credit lines, will provide ample liquidity through 2009, even using conservative industry volume and mix assumptions Cash Impact Through YE2009 Operating and Other Actions ~$10B Asset Sales ~$2-4B Capital Markets Activities ~$2-3B Total ~$15B 19

Agenda Planning For A Tougher U.S. Environment Operating and Other Actions Asset Sales and Financing Activities Looking Ahead 20

% of U.S. Industry GM New / Major Product Launches Segment 2010E / ^ from '07 2007 2008 2009 2010 Mid Car 15% / up 1 p.p. Compact Car 15% / up 1 p.p. Comp/Lux SUV/CUV 12% / up 2 p.p. Mid CUV 7% / up 2 p.p. Comp/Mid Lux Car 6% / flat Small Car 4% / up 1 p.p. Sport 3% / up 1 p.p. Total 62% / up 8 p.p. All Other Segments Memo: GM Hybrid or E-Flex Models Available 2 6 9 11 Major GMNA Launches In Cars & Crossovers 18 of the next 19 upcoming major launches planned to be in car and crossover segments 11 of the last 13 major launches were also in these segments Recent Launch Future Launch (Large Car) 21

Chevrolet Malibu Cadillac CTS Comparison to NAIAS Motor Trend Prior Model Year Car of the Year Car of the Year Retail Sales Growth (CYTD thru June) +113% +33% Avg. Transaction Price + ~$4,000 + ~$8,000 Contribution Margin ($/unit) +40% +30% Residual Value +11 pts +5 pts Opinion (vs. prior model) +15 pts +9 pts Other Key Metrics Model Mix (up-level trim) ~50% > 50% Conquest % High 30s High 30s Great Products Supporting Higher Prices 22

Advanced Propulsion Initiatives GM strategy based on concept of energy diversity and simultaneously focused on multiple solutions: Advanced internal combustion engines Aggressive hybrid rollout Longer-term advanced technologies (e.g. fuel cells) Demonstrated leadership in several key areas Ethanol / bio-fuels New cellulosic ethanol JVs Plug-in applications E-Flex architecture Fuel cell applications Project Driveway research Manufacturers with global scale and engineering depth are best positioned to respond to evolving/diverse regulatory environments globally 23

GMNA Structural Cost Outlook Operating actions in North America, combined with benefits of 2007 UAW agreement, are targeted to reduce structural costs by $6-7B from 2007 to 2010 2005 2006 2007 2008E 2009E 2010E GMNA Structural Cost 40.4 35.1 33.2 31.1 29 26.5 Memo: ($ billions) Corp Sector / Legacy Structural Cost 1.2 1.1 1.0 1.0 1.0 0.1 24 Note: Structural cost outlook based on negative plan amendment accounting for UAW VEBA

UAW Agreement Transforms U.S. Business Model Competitiveness Enables appropriate employment levels and introduces wage and benefit structures that support efforts to close manufacturing cost gap Flexibility Mechanisms to help deploy labor force where required Ability to adjust workforce to reflect market conditions VEBA funding structured to allow contribution payments over time Balance Sheet De-Levering Retiree health care benefits funded for current UAW hourly employees and retirees while largely eliminating health care inflation risk from capital structure 25

Strong Earnings Momentum in Rest of World GM makes substantial profit outside North America Refer to Supplemental Charts in our earnings presentation on GM's Investor website for reconciliation to GAAP figures http://www.gm.com/corporate/investor_information/ Adjusted Earnings Before Tax Q1 ($ billions) 2005 2006 2007 2008 GME (0.5) 0.4 0.1 0.2 GMLAAM 0.2 0.6 1.3 0.5 GMAP 0.4 0.4 0.7 0.3 ROW Automotive EBT 0.1 1.4 2.1 1.0 % GM unit volume outside U.S. 51% 55% 59% 64% % GM revenue outside GMNA(1) 32% 34% 39% 43% 26 (1) Excludes China

2002-2007 2007 2007-2012E GM Product Growth % of Global Est. Industry Launches Industry GM Industry Growth 2008 - 2010 China 151% 627% 12% 67% 25 Russia 124% 7,048% 4% 103% 23 Brazil 70% 49% 3% 17% 5 India 124% 653% 3% 86% 5 Total BRIC 126% 280% 22% 68% 58 Other Emerging 79% 65% 16% 25% Total Emerging 103% 148% 38% 50% Growth in Emerging Markets GM growth in BRIC markets more than doubled the industry since 2002 GM volume up 280% in 2002-2007 vs. industry up 126% Continued share gains supported by 58 product launches through 2010 Continue to leverage GMDAT for growth of Chevrolet brand 27

Summary Managing liquidity is top GM priority Operating and other actions (~$10B), asset sales (~$2-4B) and financing activities (~$2-3B) announced today, in conjunction with access to $4.5B of credit lines, will provide ample liquidity through 2009 We remain confident our strategy to deliver great products and strong brands, grow profitably in emerging markets, continue to drive advanced propulsion technologies and aggressively respond to a challenging environment in North America will position the company for sustainable profitability and growth 28