GM at Deutsche Bank Conference Notes

Mary Barra – Chairman and CEO

80% of our total vehicles are produced in the US

“Well, first off I think what we want to do is make sure as all the different policy changes are being contemplated. People really understand the auto industry, understand that we are long lead, decisions of products that we are launching right now were made two, three, four years ago. Also that it’s a very capital intensive business. And we think as people understand that but also understand right now in General Motors we have over 40 manufacturing facilities in the United States. We provide 100,000 jobs. Over the last two years we’ve invested $11 billion in the United States. We’ve also which is either preserved jobs or increased jobs from a IT perspective over the last few years we’ve increased 11 or broaden 11,000 IT jobs into this country, many of which brought into the company many of which were brought into the country as we made that move, as well as we made some shifts in our engineering foot print. So we want to make sure people understand the industry and General Motors specifically as we look at that. When you also then look at where we produce, we produce upwards of — over three quarters almost 80% of the total vehicles produced in the US when you look at it against sales. So we are providing very strong job. And when you look at for instance some of the products that we talked about, there comes a point where if you have to look at how officially how many vehicles are you going to sell to make the investment worthwhile, that’s when some cases products are in Mexico because of the bilateral trade agreements. So that’s another important point that we want to make as we look at what are the difference that are going to be made in trade.”

Chuck Stevens

See another strong year but a plateau

“Relative to the growth rate now Dan or Mary can way in, we expect to see another strong year in 2017 from a US industry perspective. We had another record year in 2016. We think we are going to plateau at these kinds of strong levels. I think the fundamental drivers of what’s been driving the industry may change a little bit from a kind of credit driven tailwind into more of economic growth GDP type growth tailwind over the next number of years. Is there upside to the industry? Perhaps but we try to manage the business from a conservative perspective from a revenue standpoint then see if we can take advantage of those opportunities as they present themselves.”