GM Announces First Full-Year Results as New Company

By General Motors, PRNE
Wednesday, February 23, 2011

DETROIT, February 24, 2011 -

              GM achieves four consecutive quarters of profitability



                    Calendar year net income of $4.7 billion,
               earnings per share of $2.89 on a diluted basis

                   Calendar year earnings before interest and
                     tax (EBIT) adjusted of $7.0 billion

               Material Weakness in Financial Reporting Eliminated

General Motors Company (NYSE: GM) today announced its calendar year 2010
results marked by $4.7 billion of net income attributable to common
stockholders for its first full year of operations.

Revenue for the calendar year was $135.6 billion. Automotive cash flow
from operating activities was $6.6 billion and automotive free cash flow was
$2.4 billion, both reflecting the impact of a $4.0 billion voluntary cash
contribution to the company's U.S. pension plans.

"Last year was one of foundation building," said Dan Akerson, chairman
and chief executive officer. "Particularly pleasing was that we demonstrated
GM's ability to achieve sustainable profitability near the bottom of the U.S.
industry cycle, with four consecutive profitable quarters."

GM generated the following results:

                                               Fourth               Calendar
                                          Quarter '10               Year '10
    Revenue (bils.)                             $36.9                 $135.6
    Net income attributable to common
     stockholders (bils.)                        $0.5                   $4.7
       -Adjustments and loss on
        preferred, included above
        (bils.)                                 $(0.4)                 $(0.2)
    Earnings per share on a fully
     diluted basis ($/share)                    $0.31                  $2.89
       -Adjustments and loss on
        preferred, included above
        ($/share)                              $(0.21)                $(0.14)
       --------------------------              ------                 ------
    Earnings before interest and tax
     (EBIT) adj. (bils.)                         $1.0                   $7.0
    --------------------------------             ----                   ----
    Automotive net cash flow from
     operating activities (bils.)               $(1.7)                  $6.6
    Automotive free cash flow (bils.)           $(2.8)                  $2.4
       -Contribution to U.S. pension
        plans, included above (bils.)           $(4.0)                 $(4.0)

Fourth quarter net income attributable to common stockholders of $0.5
billion
includes net charges of $0.4 billion, or a $0.21 reduction to fully
diluted earnings per share, as a result of the previously disclosed $0.7
billion
loss on the purchase of U.S. Treasury (UST) preferred shares,
partially offset by the impact of EBIT adjustments. The company had
approximately $0.3 billion in favorable EBIT adjustments including the
previously disclosed $0.2 billion gain associated with the repayment of the
VEBA Note, and $0.1 billion of cumulative gains on the sale of Nexteer and
the purchase of the Strasbourg, France facility.

GM North America (GMNA) had EBIT in the fourth quarter 2010 of $0.8
billion
, up from a loss of $3.4 billion in the fourth quarter 2009. GM Europe
(GME) had a loss before interest and taxes of $0.6 billion, an improvement
from a loss of $0.8 billion in the same quarter a year ago. GM International
Operations (GMIO) had EBIT of $0.3 billion, down from $0.4 billion in fourth
quarter 2009. GM South America (GMSA) had EBIT of $0.2 billion for the fourth
quarter, compared with $0.3 billion in the same quarter a year ago. GM began
reporting GMSA results as an operating segment in the fourth quarter, and has
revised the segment reporting for prior periods.

Automotive net cash flow from operating activities for the fourth quarter
was $(1.7) billion, which reflects a $4.0 billion voluntary cash contribution
to the U.S. pension plans. After deducting $1.1 billion of capital
expenditures, automotive free cash flow was $(2.8) billion.

As a result of GM's 2010 financial performance, the company will pay
profit sharing to approximately 45,000 eligible GM U.S. hourly employees, and
approximately 3,000 eligible GM Components Holdings (GMCH) employees. The
average payout per employee will be approximately $4,300 for GM employees and
$3,200 for GMCH employees.

In addition, GM announced today that after assessing remediation actions
that it put in place to address the company's material weakness regarding the
financial reporting process, the management team and Audit Committee of the
Board of Directors concluded that the material weakness no longer exists as
of December 31, 2010.

"Our focus for 2011 is to build on our progress and continue to generate
momentum in the marketplace. We expect our first quarter will be a strong
start," said Chris Liddell, vice chairman and chief financial officer.

About General Motors

General Motors, one of the world's largest automakers, traces its roots
back to 1908. With its global headquarters in Detroit, GM employs 202,000
people in every major region of the world and does business in more than 120
countries. GM and its strategic partners produce cars and trucks in 30
countries, and sell and service these vehicles through the following brands:
Buick, Cadillac, Chevrolet, FAW, GMC, Daewoo, Holden, Jiefang, Opel, Vauxhall
and Wuling. GM's largest national market is China, followed by the United
States
, Brazil, Germany, the United Kingdom, Canada, and Italy. GM's OnStar
subsidiary is the industry leader in vehicle safety, security and information
services. More information on the new General Motors can be found at
www.gm.com.

Forward-Looking Statements

In this press release 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
ability to maintain adequate liquidity and financing sources and an
appropriate level of debt, including as required to fund our planning
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 report on Form
10-Q provides information about these and other factors, which we may revise
or supplement in future reports to the SEC.

                                 Exhibit 1

                General Motors Company and Subsidiaries
                             Supplemental Material
                                 (Unaudited)

The accompanying tables and charts for securities analysts include
earnings before interest and taxes (EBIT), EBIT adjusted and Automotive free
cash flow which are not prepared in accordance with Accounting Principles
Generally Accepted in the United States of America (U.S. GAAP) and have not
been audited or reviewed by GM's independent auditors. EBIT, EBIT adjusted
and Automotive free cash flow are considered non-GAAP financial measures.

Management believes these non-GAAP financial measures provide meaningful
supplemental information regarding GM's operating results because they
exclude amounts that management does not consider part of operating results
when assessing and measuring the operational and financial performance of the
organization. Management believes these measures allow it to readily view
operating trends, perform analytical comparisons and benchmark performance
among geographic regions. Accordingly, GM believes these non-GAAP financial
measures are useful in allowing for greater transparency of GM's core
operations and they are therefore used by management in its financial and
operational decision-making.

While management believes that these non-GAAP financial measures provide
useful information, they are not operating measures under U.S. GAAP and there
are limitations associated with their use. GM's calculation of these non-GAAP
financial measures may not be completely comparable to similarly titled
measures of other companies due to potential differences between companies in
their method of calculation. As a result, the use of these non-GAAP financial
measures has limitations and should not be considered in isolation from, or
as a substitute for, other measures such as Net income or Net income
attributable to common stockholders. Due to these limitations, these non-GAAP
financial measures are used as a supplement to U.S. GAAP measures.

The following table summarizes the reconciliation of EBIT to its most
comparable U.S. GAAP measure (dollars in millions):

                                            Successor

                                               Three         Three
                                  Year        Months         Months
                                 Ended         Ended          Ended
                           December 31,  December 31,  September 30,
                                  2010          2010           2010
                             ---------     ---------     ----------
     Operating
     segments
      GMNA(a)                   $5,748          $813         $2,125
      GME(a)(b)                 (1,764)         (568)          (559)
      GMIO(a)(b)                 2,262           334            516
      GMSA(a)(b)                   818           195            163
      GM Financial(c)              129           129              -
                                   ---           ---            ---
      Total operating
        Segments                 7,193           903          2,245
      Corporate and
        eliminations(b)            284           442             30
                                   ---           ---            ---
    EBIT(c)                      7,477         1,345          2,275
       Interest income             465           136            125
       Automotive interest
       Expense                   1,098           248            263
      Income tax expense
       (benefit)                   672          (173)           (25)
                                   ---          ----            ---
    Net income (loss)
       attributable to
      stockholders               6,172         1,406          2,162
      Less:
       Cumulative
        dividends on and
        charge related to
        purchase of
        preferred stock          1,504           896            203
                                 -----           ---            ---
    Net income
     attributable to
     common stockholders        $4,668          $510         $1,959
                                ======          ====         ======

                                        Successor

                             Three       Three         Three
                            Months      Months        Months
                             Ended       Ended         Ended
                           June 30,   March 31,  December 31,
                              2010        2010          2009
                             -----       -----         -----
     Operating
     segments
      GMNA(a)               $1,592      $1,218       $(3,443)
      GME(a)(b)               (160)       (477)         (799)
      GMIO(a)(b)               504         908           428
      GMSA(a)(b)               195         265           291
      GM Financial(c)            -           -             -
                               ---         ---           ---
      Total operating
        Segments             2,131       1,914        (3,523)
      Corporate and
        eliminations(b)        (98)        (90)         (523)
                               ---         ---          ----
    EBIT(c)                  2,033       1,824        (4,046)
       Interest income         114          90            75
       Automotive interest
       expense                 250         337           329
      Income tax expense
       (benefit)               361         509          (861)
                               ---         ---          ----
    Net income (loss)
       attributable to
      stockholders           1,536       1,068        (3,439)
      Less:
       Cumulative
        dividends on and
        charge related
        to purchase
        of preferred
        stock                  202         203            81
                               ---         ---           ---
    Net income
        attributable to
        common
        stockholders        $1,334        $865       $(3,520)
                            ======        ====       =======

    (a)  Interest and income taxes are recorded centrally in Corporate;
         therefore, there are no reconciling items for GM's automotive
         operating segments between EBIT and Net income (loss) attributable
         to stockholders.
    (b)  In the year ended December 31, 2010 GM changed its managerial and
         financial reporting structure so that certain entities
         geographically located within Russia and Uzbekistan were
         transferred from GM's GME segment to GM's GMIO segment and certain
         entities geographically located in Brazil, Argentina, Colombia,
         Ecuador, Venezuela, Bolivia, Chile, Paraguay, Peru and Uruguay
         were transferred from GM's GMIO segment to GM's newly created GMSA
         segment. GM has retrospectively revised the segment presentation
         for all periods presented.
    (c)  GM Financial amounts represent income before income taxes.
                    General Motors Company and Subsidiaries
                             Supplemental Material
                                  (Unaudited)

The following tables summarize the reconciliation of EBIT adjusted to
EBIT and Automotive free cash flow to Automotive Net cash provided by (used
in) operating activities (dollars in millions):

                                         Successor

                                           Three           Three
                             Year          Months         Months
                            Ended           Ended          Ended
                      December 31,    December 31,  September 30,
                          2010 (a)        2010 (a)          2010
                       ----------    ------------      ---------

    EBIT adjusted          $7,030          $1,021         $2,275
    Adjustments               447             324              -
                              ---             ---            ---
    EBIT                   $7,477          $1,345         $2,275
                           ======          ======         ======

    Automotive
    Free cash flow         $2,389         $(2,818)        $1,363
    Capital
      expenditures          4,200           1,088          1,261
                            -----           -----          -----
    Net cash
      provided by
      (used in)
      operating
      activities           $6,589         $(1,730)        $2,624
                           ======         =======         ======

                                          Successor

                            Three        Three           Three
                           Months       Months          Months
                            Ended        Ended           Ended
                          June 30,    March 31,    December 31,
                             2010         2010            2009
                        ---------   ----------   -------------

    EBIT adjusted          $2,033       $1,701          $(954)
    Adjustments                 -          123         (3,092)
                              ---          ---         ------
    EBIT                   $2,033       $1,824        $(4,046)
                           ======       ======        =======

    Automotive
    Free cash flow         $2,834       $1,010        $(2,919)
    Capital
      expenditures          1,011          840          1,033
                            -----          ---          -----
    Net cash
      provided by
      (used in)
      operating
      activities           $3,845       $1,850        $(1,886)
                           ======       ======        =======

    (a)  GM Financial amounts included in EBIT and EBIT adjusted represent
         income before income taxes.

Adjustments

In the three months ended December 31, 2010 Adjustments included the
following:

    - Gain of $198 million on the extinguishment of the VEBA Notes;
    - Gain of $66 million related to the acquisition of General Motors
      Strasbourg S.A.S; and
    - Gain of $60 million related to the sale of Nexteer, a manufacturer of
      steering components and half-shafts, to Pacific Century Motors.

In the three months ended March 31, 2010 Adjustments included a gain of
$123 million as a result of the sale of Saab Automobile AB to Spyker Cars NV.

In the three months ended December 31, 2009 Adjustments included the
following:

    - Settlement loss of $2.6 billion related to the termination of GM's UAW
      hourly retiree medical plan and Mitigation Plan, under which GM
      agreed that an independent VEBA would be formed to pay certain
      healthcare costs of UAW hourly retirees and their beneficiaries;
    - Impairment charge of $270 million related to GM's investment in Ally
      Financial common stock;
    - Charges of $150 million related to the settlement of existing Delphi
      obligations upon consummation of the Delphi Master Disposition
      Agreement and GM's agreement to fund the wind-down costs of certain
      Delphi facilities; and
    - Loss on extinguishment of debt of $101 million related to the
      repayment of secured long-term debt of $400 million (in connection
      with the purchase of the remaining noncontrolling interest in CAMI
      Automotive, Inc.).
               General Motors Company and Subsidiaries
                         Supplemental Material
                               (Unaudited)

                                                Successor

                                      Three                       Three
                                     Months          Year        Months
                                      Ended         Ended         Ended
                                December 31,  December 31,  December 31,
                                       2010          2010          2009
                                   --------     ---------      --------
    Production Volume
    (units in thousands)(a)
    GMNA - Cars                         240           977           235
    GMNA - Trucks                       463         1,832           381
                                        ---         -----           ---
    Total GMNA                          703         2,809           616
    GME                                 313         1,234           256
    GMIO - Consolidated Entities        265         1,016           229
    GMIO -  Joint Ventures(b)           747         2,729           592
                                        ---         -----           ---
    Total GMIO                        1,012         3,745           821
    GMSA                                241           926           229
                                        ---           ---           ---
    Total Worldwide                   2,269         8,714         1,922
                                      =====         =====         =====

                                   Combined GM
                                    and Old GM
                                    ----------
                                    Year Ended
                                   December 31,
                                          2009
                                     ---------
    Production Volume (units in
     thousands)(a)
    GMNA - Cars                            727
    GMNA - Trucks                        1,186
                                         -----
    Total GMNA                           1,913
    GME                                  1,106
    GMIO - Consolidated Entities           752
    GMIO -  Joint Ventures(b)            1,925
                                         -----
    Total GMIO                           2,677
    GMSA                                   807
                                           ---
    Total Worldwide                      6,503
                                         =====

       (a)  Production volume includes vehicles produced by certain joint
            ventures.
       (b)  The joint venture agreements with SGMW (44%) and FAW-GM (50%)
            allow for significant rights as a member as well as the
            contractual right to report SGMW and FAW-GM joint venture
            production in China.

                        General Motors Company and Subsidiaries
                                 Supplemental Material
                                      (Unaudited)

                                               Successor

                                       Three                         Three
                                      Months                        Months
                                       Ended    Year Ended           Ended
                                 December 31,  December 31,    December 31,
                                        2010          2010            2009
                                    --------      --------        --------
    Vehicle Sales (units in
      thousands)(a)(b)(c)(d)(e)
      United States
        Chevrolet - Cars                 133           636             133
        Chevrolet - Trucks               257           930             219
        Cadillac                          42           147              36
        Buick                             41           155              30
        GMC                              103           335              78
        Other                              1            12              42
                                         ---           ---             ---
        Total United States              577         2,215             538
        Canada, Mexico and
         Other                           108           410             100
                                         ---           ---             ---
        Total GMNA                       685         2,625             637
                                         ---         -----             ---
      GME
        Opel/Vauxhall                    297         1,178             265
        Chevrolet                        128           477             107
        Other                              1             7               6
                                         ---           ---             ---
        Total GME                        426         1,662             378
                                         ---         -----             ---
      GMIO
        Chevrolet                        263           914             205
        Wuling                           240         1,149             247
        Buick                            150           551             134
        GM Daewoo                         40           130              41
        Holden                            34           141              36
        FAW-GM                            21            88              26
        GMC                               10            35               8
        Cadillac                           6            22               3
        Other                             12            46              12
                                         ---           ---             ---
        Total GMIO(f)(g)                 776         3,077             713
                                         ---         -----             ---
      GMSA
        Chevrolet                        284         1,014             222
        Other                              2            11               2
                                         ---           ---             ---
        Total GMSA                       286         1,026             224
                                         ---         -----             ---
      Total Worldwide                  2,173         8,390           1,952
                                       =====         =====           =====

                                   Combined GM
                                    and Old GM
                                    ----------
                                    Year Ended
                                   December 31,
                                          2009
                                 -------------
    Vehicle Sales (units in
      thousands)(a)(b)(c)(d)(e)
      United States
        Chevrolet - Cars                   546
        Chevrolet - Trucks                 799
        Cadillac                           109
        Buick                              102
        GMC                                260
        Other                              269
                                           ---
        Total United States              2,084
        Canada, Mexico and
         Other                             400
                                           ---
        Total GMNA                       2,484
                                         -----
      GME
        Opel/Vauxhall                    1,209
        Chevrolet                          426
        Other                               32
                                           ---
        Total GME                        1,668
                                         -----
      GMIO
        Chevrolet                          629
        Wuling                           1,001
        Buick                              448
        GM Daewoo                          121
        Holden                             126
        FAW-GM                              35
        GMC                                 36
        Cadillac                            11
        Other                               47
                                           ---
        Total GMIO(f)(g)                 2,453
                                         -----
      GMSA
        Chevrolet                          862
        Other                               10
                                           ---
        Total GMSA                         872
                                           ---
      Total Worldwide                    7,477
                                         =====

    (a)  Includes HUMMER, Saturn and Pontiac vehicle sales data.
    (b)  Includes GM Saab vehicle sales data through February 2010.
    (c)  Vehicle sales data may include rounding differences.
    (d)  Certain fleet sales that are accounted for as operating leases are
         included in vehicle sales at the time of delivery to the daily
         rental car companies.
    (e)  GMNA vehicle sales primarily represent sales to the ultimate
         customer. GME, GMIO and GMSA vehicle sales primarily represent
         estimated sales to the ultimate customer.
    (f)  Includes SGM joint venture vehicle sales in China of 1.0 million
         vehicles, SGMW and FAW-GM joint venture vehicle sales in China
         of 1.3 million vehicles and HKJV joint venture vehicle sales in
         India of 110,000 vehicles in the year ended December 31, 2010.
         Combined GM and Old GM SGM joint venture vehicle sales in China
         of 708,000 vehicles and combined GM and Old GM SGMW and FAW-GM
         joint venture vehicle sales in China of 1.1 million vehicles in
         the year ended December 31, 2009. We do not record revenue from
         our joint ventures' vehicle sales.
    (g)  The joint venture agreements with SGMW (44%) and FAW-GM (50%)
         allow for significant rights as a member as well as the
         contractual right to report SGMW and FAW-GM joint venture
         vehicle sales in China as part of global market share. These
         entities are not consolidated for financial reporting purposes.
         Income and losses related to these entities are recorded in
         Equity income, net of tax.
                        General Motors Company and Subsidiaries
                                 Supplemental Material
                                      (Unaudited)

                                          Successor

                                                                 Three
                              Three Months                      Months
                                     Ended    Year Ended         Ended
                               December 31,  December 31,  December 31,
                                      2010          2010          2009
                             -------------      --------      --------
    Market
     Share(a)(b)(c)(d)
      United States -
       Cars                          13.2%         14.3%        15.5%
      United States -
       Trucks                        23.9%         23.0%        24.6%
      Total United States            19.1%         18.8%        20.2%
      Total GMNA                     18.5%         18.2%        19.2%
      Total GME                       9.0%          8.8%         8.2%
      Total GMIO(e)(f)                8.6%          8.8%         8.9%
      Total GMSA                     19.6%         19.9%        19.6%
      Total Worldwide                11.5%         11.4%        11.4%

    U.S. Retail/Fleet Mix
      % Fleet Sales -
       Cars                          29.6%         36.9%        34.6%
      % Fleet Sales -
       Trucks                        19.1%         23.2%        20.5%
      Total Vehicles                 22.3%         28.2%        25.8%

    GMNA Capacity
     Utilization(g)                  89.6%         89.5%        61.5%

                                Combined GM
                                 and Old GM
                                 ----------
                                 Year Ended
                                December 31,
                                       2009
                              -------------
    Market
     Share(a)(b)(c)(d)
      United States -
       Cars                           16.3%
      United States -
       Trucks                         23.1%
      Total United States             19.7%
      Total GMNA                      18.9%
      Total GME                        8.9%
      Total GMIO(e)(f)                 8.7%
      Total GMSA                      20.0%
      Total Worldwide                 11.6%

    U.S. Retail/Fleet Mix
      % Fleet Sales -
       Cars                           29.0%
      % Fleet Sales -
       Trucks                         21.6%
      Total Vehicles                  24.7%

    GMNA Capacity
     Utilization(g)                   48.0%

    (a) Market share information is based on vehicle sales volume.
    (b) Includes HUMMER, Saturn and Pontiac vehicle sales data.
    (c) Includes GM Saab vehicle sales data through February 2010.
    (d) GMNA vehicle sales primarily represent sales to the ultimate
        customer. GME, GMIO and GMSA vehicle sales primarily represent
        estimated sales to the ultimate customer.
    (e) Includes SGM joint venture vehicle sales in China of 1.0 million
        vehicles, SGMW and FAW-GM joint venture vehicle sales in China of
        1.3 million vehicles and HKJV joint venture vehicle sales in India
        of 110,000 vehicles in the year ended December 31, 2010. Combined GM
        and Old GM SGM joint venture vehicle sales in China of 708,000
        vehicles and combined GM and Old GM SGMW and FAW-GM joint venture
        vehicle sales in China of 1.1 million vehicles in the year ended
        December 31, 2009. We do not record revenue from our joint ventures'
        vehicle sales.
    (f) The joint venture agreements with SGMW (44%) and FAW-GM (50%) allow
        for significant rights as a member as well as the contractual right
        to report SGMW and FAW-GM joint venture vehicle sales in China as
        part of global market share. These entities are not consolidated for
        financial reporting purposes. Income and losses related to these
        entities are recorded in Equity income, net of tax.
    (g) Two shift rated, annualized.

                        General Motors Company and Subsidiaries
                                 Supplemental Material
                                      (Unaudited)

                                            Successor

                                  December 31,   December 31,
                                         2010           2009
                                    ---------       --------
    Worldwide Employment
     (thousands)
    GMNA(a)                                96            103
    GME(b)                                 40             50
    GMIO(c)                                32             34
    GMSA                                   31             28
    GM Financial                            3              -
                                          ---            ---
    Total Worldwide                       202            215
                                          ===            ===

    U.S. - Salaried                        28             26
    U.S. - Hourly                          49             51

    (a)  Decrease in GMNA primarily relates to restructuring initiatives.
    (b)  Decrease in GME primarily relates to the sale of Saab, employees
         located within Russia and Uzbekistan transferred from our GME
         segment to our GMIO segment and restructuring initiatives in
         Belgium, Germany, Spain and the United Kingdom in the year ended
         December 31, 2010.
    (c)  GMIO reflects a reduction of 2,400 employees due to the sale of GM
         India in the year ended December 31, 2010.

                                   Successor           Predecessor
                                             July 10,    January 1,
                                                2009          2009
                          Year Ended         Through       Through
                         December 31,    December 31,       July 9,
                                2010            2009          2009
                       -------------   -------------  ------------
     Worldwide Payroll
      (billions)               $14.0            $6.2          $6.2

                        General Motors Company and Subsidiaries
                         Consolidated Statements of Operations
                        (In millions, except per share amounts)
                                      (Unaudited)

                                            Successor
                                                     July 10,
                                          Year          2009
                                         Ended       Through
                                   December 31,  December 31,
                                          2010          2009
                                          ----          ----
    Net sales and revenue
      Automotive sales                $135,142       $57,329
      GM Financial and other
       revenue                             281             -
      Other automotive revenue             169           145
                                           ---           ---
      Total net sales and
       revenue                         135,592        57,474
                                       -------        ------
    Costs and expenses
      Automotive cost of sales         118,792        56,381
      GM Financial operating
       expenses and other                  152             -
      Automotive selling,
       general and
       administrative expense           11,446         6,006
      Other automotive expenses,
       net                                 118            15
                                           ---           ---
      Total costs and expenses         130,508        62,402
                                       -------        ------
       Operating income (loss)           5,084        (4,928)
    Equity in income (loss) of
     and disposition of
     interest in Ally
     Financial                               -             -
    Automotive interest
     expense                            (1,098)         (694)
    Interest income and other
     non-operating income,
     net                                 1,555           440
    Gain (loss) on
     extinguishment of debt                196          (101)
    Reorganization gains, net                -             -
                                           ---           ---
    Income (loss) before
     income taxes and equity
     income                              5,737        (5,283)
    Income tax expense
     (benefit)                             672        (1,000)
    Equity income, net of tax            1,438           497
                                         -----           ---
    Net income (loss)                    6,503        (3,786)
    Net (income) loss
     attributable to
     noncontrolling interests             (331)         (511)
                                          ----          ----
    Net income (loss)
     attributable to
     stockholders                        6,172        (4,297)
    Less: Cumulative dividends
     on and charge related to
     purchase of                         1,504           131
      preferred stock                    -----           ---
    Net income (loss)
     attributable to common
     stockholders                       $4,668       $(4,428)
                                        ======       =======
    Earnings (loss) per share
    Basic
      Net income (loss)
       attributable to common
       stockholders                      $3.11        $(3.58)
      Weighted-average common
       shares outstanding                1,500         1,238
    Diluted
      Net income (loss)
       attributable to common
       stockholders                      $2.89        $(3.58)
      Weighted-average common
       shares outstanding                1,624         1,238

    Cash dividends per common
     share                                  $-            $-

                                            Predecessor

                                   January 1,
                                        2009            Year
                                     Through           Ended
                                      July 9,    December 31,
                                        2009            2008
                                        ----            ----
    Net sales and revenue
      Automotive sales               $46,787        $147,732
      GM Financial and other
       revenue                             -               -
      Other automotive revenue           328           1,247
                                         ---           -----
      Total net sales and revenue     47,115         148,979
                                      ------         -------
    Costs and expenses
      Automotive cost of sales        55,814         149,257
      GM Financial operating
       expenses and other                  -               -
      Automotive selling, general
       and administrative expense      6,161          14,253
      Other automotive expenses,
       net                             1,235           6,699
                                       -----           -----
      Total costs and expenses        63,210         170,209
                                      ------         -------
       Operating income (loss)       (16,095)        (21,230)
    Equity in income (loss) of
     and disposition of
     interest in Ally Financial        1,380          (6,183)
    Automotive interest expense       (5,428)         (2,525)
    Interest income and other
     non-operating income, net           852             424
    Gain (loss) on
     extinguishment of debt           (1,088)             43
    Reorganization gains, net        128,155               -
                                     -------             ---
    Income (loss) before income
     taxes and equity income         107,776         (29,471)
    Income tax expense
     (benefit)                        (1,166)          1,766
    Equity income, net of tax             61             186
                                         ---             ---
    Net income (loss)                109,003         (31,051)
    Net (income) loss
     attributable to
     noncontrolling interests            115             108
                                         ---             ---
    Net income (loss)
     attributable to
     stockholders                    109,118         (30,943)
    Less: Cumulative dividends
     on and charge related to
     purchase of                           -               -
      preferred stock                    ---             ---
    Net income (loss)
     attributable to common
     stockholders                   $109,118        $(30,943)
                                    ========        ========
    Earnings (loss) per share
    Basic
      Net income (loss)
       attributable to common
       stockholders                  $178.63         $(53.47)
      Weighted-average common
       shares outstanding                611             579
    Diluted
      Net income (loss)
       attributable to common
       stockholders                  $178.55         $(53.47)
      Weighted-average common
       shares outstanding                611             579

    Cash dividends per common
     share                                $-           $0.50

                        General Motors Company and Subsidiaries
                              Consolidated Balance Sheets

                          (In millions, except share amounts)
                                      (Unaudited)

                                                           Successor
                                                  December 31,  December 31,
                                 ASSETS                  2010          2009
                                                         ----          ----
    Automotive Current Assets
      Cash and cash equivalents                       $21,061       $22,679
      Marketable securities                             5,555           134
                                                        -----           ---
      Total cash, cash equivalents and marketable
       securities                                      26,616        22,813
      Restricted cash and marketable securities         1,240        13,917
      Accounts and notes receivable (net of
       allowance of $252 and $250)                      8,699         7,518
      Inventories                                      12,125        10,107
      Assets held for sale                                  -           388
      Equipment on operating leases, net                2,568         2,727
      Other current assets and deferred income
       taxes                                            1,805         1,777
                                                        -----         -----
      Total current assets                             53,053        59,247
    Automotive Non-current Assets
      Restricted cash and marketable securities         1,160         1,489
      Equity in net assets of nonconsolidated
       affiliates                                       8,529         7,936
      Property, net                                    19,235        18,687
      Goodwill                                         30,513        30,672
      Intangible assets, net                           11,882        14,547
      Deferred income taxes                               308           564
      Assets held for sale                                  -           530
      Other assets                                      3,286         2,623
                                                        -----         -----
      Total non-current assets                         74,913        77,048
                                                       ------        ------
      Total Automotive Assets                         127,966       136,295
    GM Financial Assets
      Finance receivables (including finance
       receivables transferred to special purpose
       entities of $7,156 at December 31, 2010)         8,197             -
      Restricted cash                                   1,090             -
      Goodwill                                          1,265             -
      Other assets                                        380             -
                                                          ---           ---
      Total GM Financial Assets                        10,932             -
                                                       ------           ---
    Total Assets                                     $138,898      $136,295
                                                     ========      ========
                         LIABILITIES AND EQUITY
    Automotive Current Liabilities
      Accounts payable (principally trade)            $21,497       $18,725
      Short-term debt and current portion of long-
       term debt (including debt at GM Daewoo of
       $70 at December 31, 2010)                        1,616        10,221
      Liabilities held for sale                             -           355
      Postretirement benefits other than pensions         625           846
      Accrued liabilities (including derivative
       liabilities at GM Daewoo of $111 at December
       31, 2010)                                       23,419        22,288
                                                       ------        ------
      Total current liabilities                        47,157        52,435
    Automotive Non-current Liabilities
      Long-term debt (including debt at GM Daewoo
       of $835 at December 31, 2010)                    3,014         5,562
      Liabilities held for sale                             -           270
      Postretirement benefits other than pensions       9,294         8,708
      Pensions                                         21,894        27,086
      Other liabilities and deferred income taxes      13,021        13,279
                                                       ------        ------
      Total non-current liabilities                    47,223        54,905
                                                       ------        ------
      Total Automotive Liabilities                     94,380       107,340
    GM Financial Liabilities
      Securitization notes payable                      6,128             -
      Credit facilities                                   832             -
      Other liabilities                                   399             -
                                                          ---           ---
      Total GM Financial Liabilities                    7,359             -
                                                        -----           ---
    Total Liabilities                                 101,739       107,340
    Commitments and contingencies
    Preferred stock Series A, $0.01 par value
     (2,000,000,000 shares authorized and
     360,000,000 shares issued                              -         6,998
      and outstanding (each with a $25.00
       liquidation preference) at December 31,
       2009)
    Equity
    Preferred stock, $0.01 par value,
     2,000,000,000 shares authorized:
      Series A (276,101,695 shares issued and
       outstanding (each with a $25.00 liquidation
       preference) at December 31, 2010)                5,536             -
      Series B (100,000,000 shares issued and
       outstanding (each with a $50.00 liquidation
       preference) at December 31, 2010)                4,855             -
    Common stock, $0.01 par value (5,000,000,000
     shares authorized and 1,500,136,998 shares
     and                                                   15            15
      1,500,000,000 shares issued and outstanding
       at December 31, 2010 and 2009)
    Capital surplus (principally additional paid-
     in capital)                                       24,257        24,040
    Retained earnings (accumulated deficit)               266        (4,394)
    Accumulated other comprehensive income              1,251         1,588
                                                        -----         -----
    Total stockholders' equity                         36,180        21,249
    Noncontrolling interests                              979           708
                                                          ---           ---
    Total equity                                       37,159        21,957
                                                       ------        ------
    Total Liabilities and Equity                     $138,898      $136,295
                                                     ========      ========

Renee Rashid-Merem, Office +1-313-665-3128, Cell +1-313-701-8560, renee.rashid-merem at gm.com, or Randy Arickx, Office +1-313-667-0006, Cell +1-313-268-7070, randy.c.arickx at gm.com; NOTE TO EDITORS: For additional media information visit media.gm.com.

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