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) September 7, 2011
GENERAL MOTORS COMPANY
(Exact Name of Registrant as Specified in its Charter)
| 001-34960 | DELAWARE | 27-0756180 | ||||
| (Commission File Number) |
(State or other jurisdiction of incorporation) |
(I.R.S. Employer Identification No.) | ||||
| 300 Renaissance Center, Detroit, Michigan | 48265-3000 | |||||
| (Address of Principal Executive Offices) | (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:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17-CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
TABLE OF CONTENTS
ITEM 8.01 Other Events
Signature
Index to Exhibits
Presentation Webcast Charts Dated September 7, 2011
ITEM 8.01 Other Events
On September 7, 2011, Mr. Stephen Girsky, Vice Chairman, conducted a webcast presentation hosted by Credit Suisse to provide an update on General Motors Company financial and operating strategy and the role of GM Ventures. The presentation related thereto is attached as Exhibit 99.1.
EXHIBITS
| Exhibit |
Description |
Method of Filing | ||
| Exhibit 99.1 | Presentation Charts Dated September 7, 2011 |
Attached as Exhibit |
SIGNATURE
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 COMPANY (Registrant) | ||||
| Date: September 9, 2011 | By: | /s/ Nick S. Cyprus | ||
| Nick S. Cyprus Vice President, Controller and Chief Accounting Officer | ||||
Exhibit 99.1
Exhibit 99.1
Steve Girsky
Vice Chairman, General Motors
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” 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. Among other items, such factors might include: our ability to realize production efficiencies and to achieve reductions in costs as a result of our restructuring initiatives and labor modifications; our ability to maintain quality control over our vehicles and avoid material vehicle recalls; our suppliers’ ability to deliver parts, systems and components at such times to allow us to meet production schedules; our ability to maintain adequate liquidity and financing sources and an appropriate level of debt, including as required to fund our planned significant investment in new technology; our ability to realize successful vehicle applications of new technology; and our ability to continue to attract new customers, particularly for our new products.
GM’s most recent annual report on Form 10-K and quarterly reports on Form 10-Q provides information about these and other factors, which we may revise or supplement in future reports to the SEC.
New GM
Corporate Strategy
Update on GM Ventures
NEW GM
New Business Model
Leverage to Global Growth
Significantly Lower Risk Profile
SUCCESS IN MARKET PLACE
U.S. Total Market Share
18.9%
19.6%
H1 2010
H1 2011
U.S. Retail ATP ($/Unit)
29,200
29,800
H1 2010*
H1 2011
U.S. Retail Market Share
16.6%
17.9%
H1 2010
H1 2011
U.S. 36mo Residual (Gap To Competitive Set)
2010 MY 2011 MY
(3.0) pts
(2.4) pts
* H1 2010 U.S. ATP mix adjusted
Everything Starts & Ends with Great Products
Everything Starts & Ends with Great Products
Everything Starts & Ends with Great Products
LEVERAGE GLOBAL GROWTH
Industry Volume (M)
72
19
14
14
25
2010
95
23
16
19
37
2015 Est.
GM – 2011 H1 Performance
Position Market Share
All Other 3 8%
Western Europe 5 8%
North America 1 19%
BRIC 1 12%
2010 industry volume & 5 YR projected growth based on IHS Automotive car and light truck sales forecast September 2011
GM market position and share based on GM internal data and includes sales by joint ventures on a total vehicle basis
LOWER RISK PROFILE
Old GM
New GM
U.S.
SAAR (M)
16
12
8
4
0
U.S. SAAR
GMNA EBIT-Adj
2008 2009 2010 2011
GMNA EBIT-Adj ($B)
4.0
2.0
0.0
(2.0)
(4.0)
(6.0)
Certain financial information of Old GM is not comparable to GM’s as GM’s application of fresh-start reporting significantly affected certain assets, liabilities and expenses. Our automotive operations interest and income taxes are recorded centrally in Corporate; therefore, a reconciliation to a corresponding GAAP metric can only be performed on a consolidated basis.
FORTRESS BALANCE SHEET
June 30, 2011 ($B)
39.7
10.2
10.8
Available
Liquidity
Debt &
Series A
U.S. Pension
Underfunded
Status*
• Liquidity to support steady investment in product & tech.
• Minimal debt
• Fully fund & de-risk U.S. pension plans
• Ultimately return excess cash to shareholders
Debt amount excludes GM Financial borrowings.
* U.S. Pension Underfunded Status as of 6/30/11, excludes U.S. non-qualified plan PBO of ~$0.9 billion and ~$2 billion stock contribution completed 1/31/11
THE FUTURE OF PERSONAL
TRANSPORTATION
• Consumers will still need mobility products & services
• World is getting increasingly crowded, dirty and resource constrained
• Competition is intensifying from a number of different places
CORPORATE STRATEGY
• Leverage strengths to provide wide range of automotive solutions to meet different global customer needs
• Build profitability into existing business to fund growth opportunities
• Reallocate capital to drive growth, innovative technology, products, services and business models that will differentiate GM in future
• Utilize collaborative partnerships to access markets and expedite technology development
GM VENTURES INVESTMENT SECTORS
Automotive Cleantech
e.g., EV and fuel cell technology, smart grid…
Infotainment
e.g., vehicle HMI, in-vehicle advertising…
Smart Materials
e.g., lightweight materials, eco-friendly materials…
Value Chain/Business Model
e.g., secondary battery use…
Other Game-Changing Technologies
e.g., inductive charging…
Coskata • Mascoma • Bright Automotive • Satkti3
Powermat • Envia Systems • Proterra • Sunlogics