General Motors 2014 Annual Report Download - page 21

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21
With these services, we are making sure our
customers have more than just a great vehicle,
they have a great ownership experience.
The electrification of the automobile is an
important part of our future as well. On this
front, we are making rapid and dramatic
progress. Consumers have purchased more
than 75,000 Volts, and we know two things from
their collective experience. First, owners love
the vehicle. The Volt’s customer satisfaction
ratings are among the highest in the industry.
Second, they rarely buy gasoline. The typical
Volt customer is averaging about 100 miles per
gallon, which translates to a fill-up about once
a month.
Building on our experience with the first
generation Volt, we revealed a second-
generation model and a new electric concept
car at the North American International Auto
Show in January. The concept vehicle, known as
the Bolt EV, is an all-electric vehicle that will go
200 miles on a charge and cost roughly $30,000.
Following a positive response from consumers,
we recently confirmed we will build the car in
our Orion Assembly facility near Detroit.
As we consider the progress of the last few
years, we believe we are on track to meet
our 2016 financial targets, which include
10 percent EBIT-adjusted margins in North
America, profitability in Europe, sustained
strong margins in China and continued
progress in emerging markets.
In addition, in February we announced our
intent to increase the second quarter dividend
on our common stock by 20 percent to 36 cents
per share. And, in March we announced a
capital allocation framework that provides
for reinvestment in the business, maintains
an investment grade balance sheet and
anticipates the return of all available free cash
flow to stockholders, including a $5-billion
share buyback.
During 2015, we expect to sell more than
1,000 new vehicles per hour, 24 hours a day.
This adds up to nearly 10 million vehicles, the
most in our history. I look at this extraordinary
volume as 10 million opportunities to prove
what kind of company we are. I believe we
are stronger than we were a year ago. I also
believe we will continue to gain strength this
year and in the years ahead.
Respectfully,
MARY T. BARRA
Chief Executive Officer
April 24, 2015
Today’s Chevy Volt customers average about 100 miles
per gallon, which should be even better with the all-new
2016 CHEVROLET VOLT.