General Motors 2015 Annual Report Download - page 4

Table of Contents
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General Motors Company (sometimes referred to as we, our, us, ourselves, the Company, General Motors, or GM) was incorporated as a Delaware
corporation in 2009. We design, build and sell cars, trucks, crossovers and automobile parts worldwide. We also provide automotive financing services
through General Motors Financial Company, Inc. (GM Financial).
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Our automotive operations meet the demands of our customers through our four automotive segments: GM North America (GMNA), GM Europe (GME),
GM International Operations (GMIO) and GM South America (GMSA).
GMNA primarily meets the demands of customers in North America with vehicles developed, manufactured and/or marketed under the Buick, Cadillac,
Chevrolet and GMC brands. The demands of customers outside North America are primarily met with vehicles developed, manufactured and/or marketed
under the Buick, Cadillac, Chevrolet, GMC, Holden, Opel and Vauxhall brands. We also have equity ownership stakes directly or indirectly in entities
through various regional subsidiaries, primarily in Asia. These companies design, manufacture and market vehicles under the Baojun, Buick, Cadillac,
Chevrolet, Jiefang and Wuling brands.
In addition to the products we sell to our dealers for consumer retail sales, we also sell cars and trucks to fleet customers, including daily rental car
companies, commercial fleet customers, leasing companies and governments. We sell vehicles to fleet customers directly or through our network of dealers.
Our retail and fleet customers can obtain a wide range of aftersale vehicle services and products through our dealer network, such as maintenance, light
repairs, collision repairs, vehicle accessories and extended service warranties.
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The global automotive industry is highly competitive. The principal factors that determine consumer vehicle preferences in the markets in which we
operate include overall vehicle design, price, quality, available options, safety, reliability, fuel economy and functionality. Market leadership in individual
countries in which we compete varies widely.
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We present both wholesale and retail vehicle sales data to assist in the analysis of our revenue and our market share. We do not currently export vehicles to
Cuba, Iran, North Korea, Sudan or Syria. Accordingly these countries are excluded from industry sales data in the tables below and corresponding
calculations of our market share.
Wholesale Vehicle Sales
Wholesale vehicle sales data, which represents sales directly to dealers and others, is the measure that correlates to our revenue from the sale of vehicles,
which is the largest component of Automotive net sales and revenue. Wholesale vehicle sales exclude vehicles produced by joint ventures. We estimate our
global breakeven point, excluding joint ventures selling automobiles in China (Automotive China JVs), to be approximately 4.5 million annual wholesale
vehicle sales. In the year ended December 31, 2015, 48.3% of our wholesale vehicle sales volume was generated outside the U.S. The following table
summarizes total wholesale vehicle sales of new vehicles by automotive segment (vehicles in thousands):
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GMNA 3,558
60.5%
3,320
55.0%
3,276
51.1%
GME 1,127
19.2%
1,172
19.4%
1,163
18.1%
GMIO 588
10.0%
655
10.9%
921
14.4%
GMSA 603
10.3%
886
14.7%
1,053
16.4%
Worldwide 5,876
100.0%
6,033
100.0%
6,413
100.0%
Retail Vehicle Sales
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