General Motors 2015 Annual Report Download - page 48

Table of Contents
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• Our ability to maintain quality control over our vehicles and avoid material vehicle recalls and the cost and effect on our reputation and products;
• Our ability to maintain adequate liquidity and financing sources including as required to fund our planned significant investment in new
technology;
• Our ability to realize successful vehicle applications of new technology and our ability to deliver new products, services and customer experiences
in response to new participants in the automotive industry;
• Shortages of and increases or volatility in the price of oil, including as a result of political instability;
• The ability of our suppliers to deliver parts, systems and components without disruption and at such times to allow us to meet production schedules;
• Risks associated with our manufacturing facilities around the world;
• Our ability to manage the distribution channels for our products;
• Our ability to successfully restructure our operations in various countries;
• The continued availability of both wholesale and retail financing from finance companies in markets in which we operate to support our ability to
sell vehicles, which is dependent on those entities' ability to obtain funding and their continued willingness to provide financing;
• Changes in economic conditions, commodity prices, housing prices, foreign currency exchange rates or political stability in the markets in which we
operate;
• 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, political, regulatory environment 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
particularly laws, regulations and policies relating to vehicle safety including recalls, and, 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 and government investigations including the potential imposition of damages, substantial fines, civil
lawsuits and criminal penalties, interruptions of business, modification of business practices, equitable remedies and other sanctions against us in
connection with various legal proceedings and investigations relating to our various recalls;
• Our ability to comply with the terms of the DPA;
• Risks related to security breaches and other disruptions to our vehicles, information technology networks and systems;
• 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 mortality or other assumption changes;
• Our continued ability to develop captive financing capability through GM Financial; 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.
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