General Motors 2011 Annual Report Download - page 67
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GENERAL MOTORS COMPANY AND SUBSIDIARIES
• Shortages of and increases or volatility in the price of oil, including as a result of political instability in the Middle East and
African nations;
• Significant changes in the competitive environment, including the effect of competition and excess manufacturing capacity in
our markets, on our pricing policies or use of incentives and the introduction of new and improved vehicle models by our
competitors;
• Significant changes in economic and market conditions in China, including the effect of competition from new market
entrants, on our vehicle sales and market position in China;
• Changes in the existing, or the adoption of new, laws, regulations, policies or other activities of governments, agencies and
similar organizations, including where such actions may affect the production, licensing, distribution or sale of our products,
the cost thereof or applicable tax rates;
• Costs and risks associated with litigation;
• Significant increases in our pension expense or projected pension contributions resulting from changes in the value of plan
assets, the discount rate applied to value the pension liabilities or other assumption changes; and
• Changes in accounting principles, or their application or interpretation, and our ability to make estimates and the assumptions
underlying the estimates, which could have an effect on earnings.
We caution readers not to place undue reliance on forward-looking statements. We undertake no obligation to update publicly or
otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors that affect the
subject of these statements, except where we are expressly required to do so by law.
*******
General Motors Company 2011 Annual Report 65