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GM outlines business strategy and plans to 2030

GM eyes a doubling of annual revenues by 2030, boosted by software-enabled services and growth in sales of EVs.

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General Motors has provided a roadmap to investors on how it plans to double its annual revenue and expand margins to 12 to 14 percent by 2030.

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GM this week concluded the first of two days of investor meetings by sharing its growth plans.

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GM’s financial targets include:

  • Revenue Growth with Improved Diversification: GM outlined its path to double annual revenues from a five-year average of about $140 billion by the end of the decade, with software and new businesses growing at nearly 50 percent CAGR through 2030 and the company’s strong core auto business driving growth.
  • Margin Expansion: GM believes its transformation can deliver margins of 12 to 14 percent by the end of the decade with core auto business margins expanding as EVs scale, battery costs decline and the company ramps up higher margin software and new business platforms.
  • Platforms: GM projects EV revenue to grow from about $10 billion in 2023 to approximately $90 billion annually by 2030 as the company launches several compelling EVs in high volume segments. GM envisions a path where connected vehicles and other new businesses drive more than $80 billion in new, incremental revenue with most of the growth accelerating through the back half of the decade as they scale.
  • Commercialization of Cruise: With Cruise, GM has a market-leading position in autonomous services with the potential to deliver $50 billion in revenue annually by the end of the decade.
  • Internally Funded Capital Spending: Annual GM capital spending, including investments in Ultium joint ventures, are expected to be in the $9 billion to $10 billion range in the medium-term as the company transitions to a majority EV product portfolio. Due to GM’s strong earnings and expanding margins, the company expects to fully fund these investments through internally generated funds.
  • Cash Conversion: GM expects to achieve a cash conversion rate of 80 to 90 percent in the latter half of the decade.
  • Balance Sheet: GM says its strong balance sheet will allow the company to continue investing in our growth priorities while maintaining an investment grade rating, which is important for long-term growth.
  • Unlocking opportunities from EVs, software-enabled services and new businesses

During the presentations and discussions with investors, GM leaders described how the company’s Ultium (hardware) and Ultifi (softaware) platforms underpin the company’s growth strategy:

  • GM projects annual software and services revenue opportunities in the $20 billion to $25 billion range from a projected 30 million connected vehicles by the end of the decade. GM says OnStar is the industry’s leading connectivity platform with more than 16 million connected vehicles on the road today, with software and services generating a projected $2 billion in annual revenue. Part of GM’s software and services growth comes from OnStar Insurance, projected to have a potential revenue opportunity of more than $6 billion annually by the end of the decade.
  • Cruise CEO Dan Ammann provided investors with details on Cruise’s commercialization and rapid scaling efforts as it prepares to launch the Cruise Origin AV.
  • BrightDrop, a new GM business that is building a connected and electrified ecosystem of delivery products and services for commercial customers, expects to deliver $5 billion in revenue by mid-decade and potentially $10 billion by the end of the decade when it is planned to approach 20 percent margins. BrightDrop’s purpose-built, Ultium-powered EV600 full-size electric van is launching now and BrightDrop will add a second purpose-built product – the smaller EV410 – in 2023.
  • GM also has a portfolio of 20 new startup businesses – several already launched, others nearing launch – helping to provide a constant pipeline of innovation and potential new revenue streams. Leaders provided a preview of an all-new software-enabled startup in development, internally called Future Roads, which uses data analytics to create insights about safer roadways and communities.
  • GM also announced it is increasing investment in charging infrastructure to nearly three quarters of a billion dollars through 2025, covering all charging domains, including home, workplace, and public charging throughout the U.S. and Canada. This investment will significantly increase access to reliable, public charging with the superior customer experience of Ultium Charge 360, GM says.

“GM has changed the world before and we’re doing it again,” said GM Chair and CEO Mary Barra. “We have multiple drivers of long-term growth and I’ve never been more confident or excited about the opportunities ahead.”

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“GM is unlocking a secular growth story that is changing the trajectory of our business,” said Paul Jacobson, executive vice president and chief financial officer. “Simply stated, we are at an inflection point in which we expect revenue to double by 2030 while also expanding our margins. We will achieve this by growing our core business of designing, building, and selling world-class ICE, electric and autonomous vehicles, growing software and services with high margins and entering and commercializing new businesses.”

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General Motors to Outline Plans for Decade of Growth, Doubling of Annual Revenues by 2030 with Increased Margins

WARREN, Mich. , Oct. 6, 2021 /PRNewswire/ -- 

Two-day investor event will detail GM's innovative approach to growth with transparent key financial metrics, featuring:

  • GM's dual platform strategy for hardware and software and how it will drive growth
  • New business initiatives and technologies, including next-generation Ultra Cruise
  • Plans to rapidly scale EV manufacturing, with more than 50 percent of North America and China plants capable of EV production by 2030
  • Updates on Cruise and its progress on commercializing autonomous vehicles

General Motors Co. (NYSE: GM) meets with investors today and tomorrow to detail its plans to double annual revenues by the end of the decade while growing EBIT-adjusted margins as it transitions to an all-electric future. GM has already announced plans to invest $35 billion through 2025 in all-electric and autonomous vehicles and launch more than 30 new EVs globally.

"GM's vision of a world with zero crashes, zero emissions and zero congestion has placed us ahead of much of the competition in electrification, software-enabled services and autonomy," said GM Chair and CEO Mary Barra . "Our early investments in these growth trends have transformed GM from automaker to platform innovator, with customers at the center. GM will use its hardware and software platforms to innovate and improve their daily experience, leading everybody on the journey to an all-electric future."

Today's events, including remarks and Q&A with Barra; GM President Mark Reuss ; Doug Parks , executive vice president, Global Product Development, Purchasing and Supply Chain; Alan Wexler , senior vice president, Innovation and Growth; Dan Ammann , CEO of Cruise; Gerald Johnson , executive vice president, Global Manufacturing and Sustainability; and Chief Financial Officer Paul Jacobson , will be held at the iconic Design Dome at the GM Global Technical Center in Warren, Michigan .

Topics that will be discussed today include:

  • GM's plan to reach leadership in EV market share in the U.S. while growing its profits from internal combustion engine (ICE) vehicles. GM's growth will be driven by the Ultium modular EV platform the company developed to launch a broad portfolio of highly desirable EVs using common, scalable components. The array of Ultium-powered EVs will include high-volume entries, including a Chevrolet crossover priced around $30,000 , Buick crossovers, trucks from Chevrolet, GMC and HUMMER EV, as well as exquisitely crafted Cadillac EVs such as the upcoming LYRIQ and CELESTIQ.
  • GM's dual platform Ultium plus Ultifi strategy to aggressively expand digital services and increase the lifetime value of its vehicles. Ultifi is an end-to-end software platform designed to unlock new vehicle experiences and connect customers' digital lives. It will help enable the frequent and seamless delivery of software-defined features, apps and services to customers over the air.
  • A look inside GM's global Innovation and Growth team and its mission to disrupt any market where it sees opportunity, and open new markets. GM is managing about 20 startups of various sizes and maturity levels, some in early phases, and others such as BrightDrop and OnStar Insurance that are launching now.
  • Plans for more than 50 percent of the company's North America and China manufacturing footprint to be capable of EV production by 2030.
  • The five-year pull ahead to 2025 of GM's commitment to source 100 percent renewable energy for the company's U.S. facilities.

Today, Chevrolet provided a new glimpse of one of several Ultium-based EVs it is planning - the Silverado EV pickup, which will make its global debut on Jan. 5, 2022 .

In addition, GM is sharing the first details of Ultra Cruise , a significant next step in hands-free advanced driving-assistance technology that will be offered starting in 2023. Designed to handle 95 percent of all driving scenarios on every paved road in the U.S. and Canada over time, it will create a virtually door-to-door hands-free driving experience. Ultra Cruise is being developed to be the premier advanced driver-assistance system on the market in terms of both capability and safe operation.

Today's presentations will be webcast here  beginning at 1 p.m. EDT with remarks by Barra. Jacobson's presentation, which will include detailed revenue and EBIT-adjusted margin targets, will begin at 4:15 p.m. and slides will be available here .

Tomorrow's activities will include product and technology immersions, including ride and drive opportunities in the GMC HUMMER EV and experiences with Super Cruise, GM's advanced hands-free driving technology that is expanding to 22 different models by 2023.  

Additional discussions will be led by executives, software developers and engineers driving new business ventures including BrightDrop, OnStar Insurance, Ultium Charge 360, e-commerce and subscription services.  

General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which will power everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet , Buick , GMC , Cadillac , and Wuling brands. More information on the company and its subsidiaries, including OnStar , a global leader in vehicle safety and security services, can be found at https://www.gm.com .

Forward-Looking Statements  

This press release and related presentations made by management may include "forward-looking statements" within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact. Forward-looking statements represent our current judgment about possible future events and are often identified by words like "aim," "anticipate," "appears," "approximately," "believe," "continue," "could," "designed," "effect," "estimate," "evaluate," "expect," "forecast," "goal," "initiative," "intend," "may," "objective," "outlook," "plan," "potential," "priorities," "project," "pursue," "seek," "should," "target," "when," "will," "would," or the negative of any of those words or similar expressions, as well as by charts presenting aspects of our long term plan and other projections of future performance. In making these statements, we rely on assumptions and analysis based on our experience and perception of historical trends, current conditions and expected future developments as well as other factors we consider appropriate under the circumstances. We believe these judgments and assumptions are reasonable, but these statements are not guarantees of any future events or financial results, and our actual results may differ materially due to a variety of important factors, many of which are beyond our control. These factors, which may be revised or supplemented in subsequent reports we file with the U.S. Securities and Exchange Commission ("SEC"), include, among others, the following: (1) our ability to deliver new products, services and customer experiences in response to increased competition and changing consumer preferences in the automotive industry; (2) our ability to timely fund and introduce new and improved vehicle models, including electric vehicles, that are able to attract a sufficient number of consumers; (3) the success of our crossovers, SUVs and full-size pickup trucks; (4) our highly competitive industry, which is characterized by excess manufacturing capacity and the use of incentives, and the introduction of new and improved vehicle models by our competitors; (5) our ability to deliver a broad portfolio of electric vehicles and drive increased consumer adoption; (6) the unique technological, operational, regulatory and competitive risks related to the timing and commercialization of autonomous vehicles; (7) the ongoing COVID-19 pandemic; (8) global automobile market sales volume, which can be volatile; (9) our significant business in China , which is subject to unique operational, competitive, regulatory and economic risks; (10) our joint ventures, which we cannot operate solely for our benefit and over which we may have limited control; (11) the international scale and footprint of our operations, which exposes us to a variety of unique political, economic, competitive and regulatory risks, including the risk of changes in government leadership and laws (including labor, tax and other laws), political instability and economic tensions between governments and changes in international trade policies, new barriers to entry and changes to or withdrawals from free trade agreements, public health crises, including the occurrence of a contagious disease or illness, such as the COVID-19 pandemic, changes in foreign exchange rates and interest rates, economic downturns in the countries in which we operate, differing local product preferences and product requirements, changes to and compliance with U.S. and foreign countries' export controls and economic sanctions, differing labor regulations, requirements and union relationships, differing dealer and franchise regulations and relationships, and difficulties in obtaining financing in foreign countries; (12) any significant disruption, including any work stoppages, at any of our manufacturing facilities; (13) the ability of our suppliers to deliver parts, systems and components without disruption and at such times to allow us to meet production schedules; (14) prices of raw materials used by us and our suppliers; (15) our ability to successfully and cost-effectively restructure our operations in the U.S. and various other countries and initiate additional cost reduction actions with minimal disruption; (16) the possibility that competitors may independently develop products and services similar to ours, or that our intellectual property rights are not sufficient to prevent competitors from developing or selling those products or services; (17) our ability to manage risks related to security breaches and other disruptions to our information technology systems and networked products, including connected vehicles and in-vehicle systems; (18) our ability to comply with increasingly complex, restrictive and punitive regulations relating to our enterprise data practices, including the collection, use, sharing and security of the Personal Identifiable Information of our customers, employees, or suppliers; (19) our ability to comply with extensive laws, regulations and policies applicable to our operations and products, including those relating to fuel economy and emissions and autonomous vehicles; (20) costs and risks associated with litigation and government investigations; (21) the costs and effect on our reputation of product safety recalls and alleged defects in products and services; (22) any additional tax expense or exposure; (23) our continued ability to develop captive financing capability through GM Financial; and (24) any significant increase in our pension funding requirements. A further list and description of these risks, uncertainties and other factors can be found in our 2020 Form 10-K and our subsequent filings with the SEC.

We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and 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, except where we are expressly required to do so by law.

Non-GAAP Financial Measures:  See our 2020 Form 10-K and our subsequent filings with the SEC for a description of certain non-GAAP measures referenced in this press release and related presentations made by management, including EBIT-adjusted, ROIC-adjusted and adjusted automotive free cash flow, along with a description of various uses for such measures. Our calculation of these non-GAAP measures is set forth within these reports and may not be comparable to similarly titled measures of other companies due to potential differences between companies in the method of calculation. As a result, the use of these non-GAAP measures has limitations and should not be considered superior to, in isolation from, or as a substitute for, related U.S. GAAP measures.

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GM CEO says committment to all-electric fleet remains firm despite industry-wide sales slowdown

General Motors CEO Mary Barra says the storied automaker's plan to turn its fleet 100% electric will now play out "over decades."

In an exclusive interview with NBC News, Barra clarified the company's previously stated intention to eventually phase out gas-powered cars.

"I wouldn’t say we’re recommitting," Barra said of the company's pledge, first announced more than six years ago. "You know, we said back in 2018 that we’re committed to an all-electric future. But as we make this transformation, it’s going to happen over decades. And that’s why I couldn’t be more proud of our gas-powered fleet as well."

In a statement after this article was published, a spokesperson for GM said the company is actually aiming to exclusively sell electric vehicles by 2035.

Barra's remarks come amid a softening sales environment for electric vehicles in the U.S. In April, Cox Automotive reported that Kelley Blue Book data showed that the first quarter of 2024 saw the first quarter-over-quarter decline in EV sales since the pandemic and that sales were up just 3% year-on-year.

Mary Barra.

Last spring, GM announced it was discontinuing its Chevy Bolt EV , which had previously made up the vast majority of the company's electric vehicle sales, in favor of a new EV platform called Ultium that serves as the battery system across its remaining electric fleet.

Barra told NBC News that GM now has offerings for virtually any consumer preference, whether it's gas or electric.

"I want people to choose an EV because they love every aspect about it," she said. "And if it doesn’t fit their lifestyle, in that same showroom, we’ve got a great gas-powered vehicle that I think will meet their needs."

Tesla continues to dominate EV sales in the U.S., and although it has gradually given up some market share, it continues to command 50% of EV purchases. Barra confirmed that GM-made EVs will have access to Tesla charging stations, as well as those managed by Pilot Flying J — something that will help alleviate concerns about EV charger availability.

Barra expressed hope that further expansion of the EV charging network will make choosing an electric vehicle easier for consumers.

GM has seen success in EVs for at least one its more recent models. Kelley Blue Book data reported by Cox showed about 1 out of every 6 Cadillac purchases is an electric vehicle — the most of any brand not focused entirely on EVs. Cadillac was also one of nine manufacturers that recorded more than 50% year-on-year growth in EV sales.

It's indicative of the current trend in the electric vehicle market: They are becoming more popular at the higher end. Cox reported that Cadillac achieved an approximately 500% year-over-year increase in EV sales thanks to robust sales of its Lyriq crossover, which costs $58,590 to $63,190.

It stands in contrast to the Bolt, which was previously the most affordable EV on the market.  

Barra did not directly refer to the Bolt, but said EVs will have to become more affordable if widespread adoption is to occur.

"Everyone has been talking about to really drive EV adoption, we’ve got to get to EVs that are affordable," she said. "And when you think this — we’re going to have a model out later this year that starts around $35,000. Then with the tax credit you think about $7,500. This is under $30,000."

There are some limits to that $7,500 tax credit so closely associated with EV purchases. Receiving that credit depends on the buyer's income and where the vehicle and its battery components were made. Certain models are excluded from the United States' EV tax credit program. Those restrictions are part of the Biden administration's effort to promote EV and battery components made in the U.S.

Former President Donald Trump, the presumptive GOP presidential nominee, has expressed opposition to the Biden administration's EV push, calling the effort "radical."

Barra said a second Trump administration would not alter the company's future plans.

"We will be just committed because we think in the long term [EVs are] better," she said. "And even right now — I mean, get in an EV and drive it. It’s instant torque. You never have to go to the gas station, especially if you have at your home or where you live, whether it’s an apartment or your house, you have accessibility charging."

She continued: "I think over the long term when we have a very robust charging infrastructure, people are going to choose EVs, because they’re better."

general motors business plan

Tom Costello is an NBC News correspondent based in Washington, D.C.  

general motors business plan

Rob Wile is a breaking business news reporter for NBC News Digital.

general motors business plan

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GM Plans New EV Startup Business Model For Europe

Five years ago, General Motors sold its European operations — including its Opel and Vauxhall brands — to Stellantis. It looked at the time as though GM was through with Europe, and vice versa. Then earlier this year, GM CEO Mary Barra surprised the automotive world by announcing the company was planning to re-enter the European market.

Barra told an audience in May, “About five years ago, we sold our Opel business to what is now Stellantis and we have no seller’s remorse from an internal combustion business. But we are looking at the growth opportunity that we have now, because we can re-enter Europe as an all-EV player. I’m looking forward to that.”

At that time, Mahmoud Samara was named to be the managing director of GM Europe. Samara had been Cadillac’s North America head of sales and marketing, where he helped transition that brand to an all-electric lineup. His mission in Europe was to create a sustainable, profitable “non-traditional mobility start-up” for EVs and autonomous vehicles, software, connectivity services, logistics, and defense.

Recently, Samara chose to leave the company. On November 1, GM announced that Jaclyn McQuaid would assume the position of president and managing director of GM Europe, where she will lead the implementation of GM’s new mobility start up business. McQuaid has had a long and distinguished career at GM, most recently as the executive engineer in charge of full size trucks.

Since November 2021, GM has significantly expanded its operations in Europe, as it prepares to launch a new, non-traditional startup, leveraging GM’s global growth investments. In the past year, GM Europe has grown its customer and technology-focused teams, announced a European Design Center based in the UK, and continued to grow its IT innovation hub in Ireland.

“European customers are switching to electric vehicles at a faster rate than anywhere in the world, and GM is investing $35 billion through 2025 in electric and autonomous vehicle technology to be a major driver of our industry’s transformation,” said McQuaid. “Our flexible Ultium battery platform and the breadth and depth of our EV portfolio enable GM to offer customers in Europe a variety of products and services to support their lifestyles while also contributing to a future of zero crashes, zero emissions and zero congestion,” she added.

GM Brigthdrop

Electrive notes this latest announcement came from Cadillac, which might suggest GM is thinking about selling its Lyriq and Celestiq electric cars in Europe. On the other hand, the company is also manufacturing Brightdrop electric delivery vans and owns Cruise, an autonomous ride sharing service. Brigthdrop has also recently unveiled its e-Cart , designed to serve the needs of those who want to shop online and have their groceries delivered to their door.

GM no longer has a dealer network or manufacturing presence in Europe, which suggests any products it sells there will be imported from the US or Canada. That, of course, brings up the new Inflation Reduction Act and its “Made in America” focus — a sore topic in Europe.

Very little is known about what plans GM has for the Continent. It did business there for 90 years, but lost piles of money on its European operations for much of that time. Will the fact that its new venture will focus on electric vehicles change the profitability equation for GM? “We’ll see,” said the Zen master.

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Home › News Releases › GM outlines Strategic Plan

GM outlines Strategic Plan

General Motors Co. (NYSE: GM) CEO Mary Barra and her executive leadership team outlined the company’s customer-focused strategic plan to become the most valued automotive company at a conference for investors and financial analysts today at the company’s Milford Proving Ground. “In the nine months that this leadership team has been together, we have spent … Continued

  • By Automotive World
  • October 1, 2014

General Motors Co. (NYSE: GM) CEO Mary Barra and her executive leadership team outlined the company’s customer-focused strategic plan to become the most valued automotive company at a conference for investors and financial analysts today at the company’s Milford Proving Ground.

“In the nine months that this leadership team has been together, we have spent a significant amount of time setting our goals for the future of GM and developing a specific action plan,” Barra said. “Our strategic plan is a pathway to earn customers for life and create significant shareholder value in the process. Every chance to connect with a customer is an opportunity to build a stronger relationship.”

GM’s strategic plan includes several major initiatives that the company anticipates will help it achieve 9- to 10-percent margins on an EBIT-adjusted basis by early next decade.

  • Lead in Product and Technology:  In 2015, about 27 percent of GM’s global sales volume is expected to come from products new or refreshed within 18 months. That figure is expected to rise to 38 percent in 2016 and 2017, and reach 47 percent in 2019. During the same time frame, GM plans to execute the world’s largest automotive deployment of 4G LTE high-speed mobile broadband, introduce vehicle-to-vehicle connectivity in the 2017 Cadillac CTS and launch a highly automated driving technology currently called Super Cruise, which allows for extended periods of hands-free driving on highways. GM has also developed an innovative Mixed Material Body Structure that uses GM-patented welding technology and a combination of steel and aluminum stampings, castings and extrusions to deliver designs that are lightweight, use 20 percent fewer parts, have class-leading torsional stiffness and exhibit superior noise and vibration characteristics.
  • Grow Cadillac : GM is establishing its flagship brand as a separate business unit headquartered in New York City to pursue growth opportunities in the luxury market with more focus and clarity. Cadillac expects to introduce four new vehicles in North America in 2015, including the recently announced CT6. In addition, Cadillac plans to introduce nine new models in the next five years in China, which is expected to become the world’s largest luxury car market later this decade.
  • Continue Growing in China:  GM’s joint ventures in China are planning to invest $14 billion from 2014 through 2018 to open five new vehicle- manufacturing plants and support sales of just under 5 million vehicles annually. In the same time frame, GM expects to launch 60 new or refreshed vehicles, including nine new sport utility vehicles.
  • Continue Growing GM Financial : GM Financial, which has seen its earning assets grow from $8.7 billion in 2010 to $37 billion today, continues to invest to support the sale of new GM cars, trucks and crossovers around the world. GM Financial has sharply increased the number of GM customers it serves in the United States, Canada, South America and Europe. Later this year, GM Financial expects to enter the growing Chinese market.
  • Deliver Core Operating Efficiencies:  GM’s strategy to improve relationships with suppliers, derive more global volume from fewer vehicle architectures and lower enterprise costs for material and logistics is expected to deliver significantly better variable margins on upcoming high-volume product launches, including the Opel/Vauxhall Corsa and Astra in Europe, and the Chevrolet Cruze and Malibu in North America. By 2020, the company expects that about 99 percent of global production will be on core architectures.

Mid-decade Financial Targets

During the meeting, GM also reaffirmed the company’s previously announced near-term financial targets:

  • In North America, the company expects to achieve EBIT-adjusted margins of 10 percent in 2016.
  • In Europe, the company expects to return to profitability in 2016.
  • In China, the company expects that its joint ventures will maintain net income margins in the 9- to 10-percent range.
  • In South America, the company’s core operations continue to improve as a result of recent product launches and material and logistics optimization.
  • GM continues to address challenges in its international operations outside of China, including brand strategy, cost structure and sourcing to return to consistent profitability.

GM intends to return excess cash flow to stockholders primarily through strong and growing dividends based on sustained improvements in the company’s underlying financial performance.

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For entrepreneurs or business owners looking to start an automotive manufacturing company, ClickUp's Business Plan Template for General Motors has got you covered!

This template includes all the essential elements you need to analyze and structure your business plan, tailored specifically to General Motors. Here's what you can expect:

  • Custom Statuses: Keep track of your progress with four different statuses - Complete, In Progress, Needs Revision, and To Do - ensuring that every aspect of your plan is accounted for and up-to-date.
  • Custom Fields: Utilize three custom fields - Reference, Approved, and Section - to add important details and keep your business plan organized and easily accessible.
  • Custom Views: Access five different views, including Topics, Status, Timeline, Business Plan, and Getting Started Guide, to gain a comprehensive overview of your plan and navigate through different sections effortlessly.

With ClickUp's Business Plan Template for General Motors, you can confidently analyze your market, project financials, define operational strategies, and outline marketing plans, all in one place. Start planning your successful automotive manufacturing venture today!

How To Use Business Plan Template for General Motors

If you're looking to create a business plan template specifically for General Motors, follow these steps to ensure you cover all the necessary aspects:

1. Executive Summary

Start your business plan with an executive summary that provides a brief overview of General Motors. Include key information such as the company's mission, vision, and core values, as well as a summary of the products and services offered. This section should also highlight any unique selling points or competitive advantages that set General Motors apart from its competitors.

Use the Docs feature in ClickUp to create a well-structured executive summary that captures the essence of General Motors.

2. Company Description and Market Analysis

In this section, provide a detailed description of General Motors, including its history, ownership structure, and legal status. Conduct a thorough market analysis to identify target customers, their needs and preferences, and key competitors. Include data on industry trends, market size, and growth potential to demonstrate a solid understanding of the market.

Use the Table view in ClickUp to organize and present market research data, competitor analysis, and other relevant information.

3. Products and Services

Outline the range of products and services offered by General Motors. Describe each product or service in detail, highlighting their unique features, benefits, and pricing. Include any plans for future product development or expansion into new markets.

Create custom fields in ClickUp to categorize and track information about each product or service offered by General Motors.

4. Marketing and Sales Strategy

Detail your marketing and sales strategies for General Motors. Identify target customer segments and outline how you plan to reach and engage them. Describe the channels you will use to promote your products and services, as well as any advertising or promotional campaigns you intend to launch. Include a pricing strategy, sales forecasts, and any partnerships or collaborations that will support your marketing efforts.

Use the Gantt chart feature in ClickUp to create a visual timeline that outlines your marketing and sales activities.

5. Financial Projections and Funding

Provide financial projections for General Motors, including revenue forecasts, projected expenses, and cash flow analysis. Outline your funding requirements, including any external funding sources such as loans or investment. Include a break-even analysis and discuss the potential return on investment for stakeholders.

Use the Dashboards feature in ClickUp to create financial reports and track key financial metrics such as revenue, expenses, and profitability.

By following these steps and utilizing the features in ClickUp, you can create a comprehensive business plan template specifically tailored for General Motors.

Get Started with ClickUp’s Business Plan Template for General Motors

Entrepreneurs or business owners who are planning to start an automotive manufacturing company can use the ClickUp Business Plan Template for General Motors to gain insights and structure their own business plan.

First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a comprehensive business plan:

  • Use the Topics View to organize your business plan into different sections such as market analysis, financial projections, operational strategies, and marketing plans
  • The Status View will help you track the progress of each section, with statuses including Complete, In Progress, Needs Revision, and To Do
  • The Timeline View will give you a visual representation of the timeline for each section of your business plan
  • Use the Business Plan View to have a holistic view of your entire plan, with all sections and details in one place
  • The Getting Started Guide View will provide you with step-by-step instructions on how to use the template and create your business plan
  • Customize the template by adding custom fields such as Reference, Approved, and Section to add more context and structure to your business plan
  • Collaborate with team members to brainstorm ideas, gather data, and create compelling content for each section of your business plan
  • Monitor and analyze the progress of each section to ensure that your business plan is comprehensive and aligned with your goals.
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Profit-Sharing Plan For General Motors Employees

general motors business plan

What Is a Profit-Sharing Plan?

It is important for General Motors employees to understand what a profit-sharing plan is in the event your employer adopts this contribution method. A profit-sharing plan is a type of qualified defined contribution plan in which the employer contributes to the accounts of participating General Motors employees. As the name implies, employer contributions are generally (but not necessarily) tied to the business's profits, allowing employees to 'share' in those profits. Annual contributions to the plan may be discretionary (you need not contribute anything at all), or may be based on a specific formula relating to annual profits.

Like other types of qualified plans, the purpose of a profit-sharing plan is to help fund your General Motors employees' retirement. By offering such a plan, General Motors may be able to attract quality employees and reduce their employee turnover rate. Unlike some other types of qualified plans, however, a pure profit-sharing plan is generally employer-funded. Participating employees generally cannot choose to defer a portion of their pre-tax compensation to the plan (although after-tax employee contributions may be permitted, as discussed below).

Tip:  The term 'profit-sharing plan' actually describes a broad category that includes several specific types of qualified retirement plans. Employee stock ownership plans and stock bonus plans, 401(k) plans, age-weighted profit-sharing plans, and new comparability plans are all considered profit-sharing plans, although each has its own unique features.

Discretionary Vs.  Non-discretionary  Profit-Sharing Plans

Under a discretionary profit-sharing plan, the employer can determine the amount to be contributed to the plan each year based on annual profits, fees for plan maintenance, and other factors. They can make contributions to the plan even if they have no current or accumulated profits in a given year. Similarly, they can choose to contribute nothing in a given year, even if the company has generated profits for that year.

Employers may want to consider that while they are generally not required to make a contribution every year, they are required by the IRS to make 'recurring and substantial' contributions. Although the IRS has not published any guidelines to clarify this, if they make no contributions for a number of consecutive years, the IRS may consider their profit-sharing plan to be terminated

To illustrate how a discretionary profit-sharing plan might work, consider the following sample plan language:

Example(s):  'The Company shall contribute each plan year during which the plan is in effect, out of its earnings for such taxable year or out of its accumulated earnings, an amount to be determined by its Board of Directors (or by the owners/partners, if not incorporated) that does not exceed 15% of eligible participant compensation.'  Another alternative is to contribute to a profit-sharing plan pursuant to a preset formula. For example, you might contribute a specified amount to the plan every year in which you have a certain level of profits. The IRS does not dictate how to define profits for this purpose, however, so you can specify any appropriate formula. Or a nonprofit organization might adopt a profit-sharing plan with contributions based on some appropriately defined 'surplus account.' Once you have adopted a formula approach, you are obligated to contribute the amount specified under the formula. Consult a retirement plan specialist for further guidance on this issue.

Caution:  You must state in your plan document your intent to establish a profit-sharing plan. This is especially important where your plan requires employer contributions — these plans look very much like money purchase pension plans, which are subject to different rules.

What Types of Employers Can Use a Profit-Sharing Plan?

Whether it is a large company, a tax-exempt organization, a government entity, or a sole proprietor, the employer can establish and maintain a profit-sharing plan. Because of the flexibility in making contributions, a profit-sharing plan is most beneficial if the employer’s profits or financial ability to contribute to a plan varies every year. In addition, employers may find this type of plan to be especially appealing if they have many employees who are relatively young. Such employees generally have substantial time to accumulate retirement savings, and are often willing to accept some investment risk with their money in exchange for the potential of impressive investment returns over the long term.

Tip:  If you are self-employed, the type of profit-sharing plan that you can adopt is sometimes called a Keogh plan.

Tax Advantages of Profit-Sharing Plans

Tax Considerations for Employees

When an employer contributes to the profit-sharing plan on behalf of their participating General Motors employees, those employer contributions are not currently included in the employees' taxable income. The employees will not pay income tax on the money contributed to their plan accounts as long as that money remains in the plan. Similarly, funds held in the profit-sharing plan grow on a tax-deferred basis. This means that any earnings from plan investments are not included in the General Motors employees' taxable income as long as they remain in the plan. This creates the potential for more rapid growth than if the funds were invested in identical investments outside the plan.

Of course, when a participating General Motors employee begins to receive distributions from the profit-sharing plan (such as during retirement), he or she will be subject to federal (and possibly state) income tax on both plan contributions and related investment earnings. (Any after-tax employee contributions to the profit-sharing plan will be income-tax free when distributed.) Despite that, the rate at which a plan distribution is taxed depends on the employee's federal income tax bracket in the year of receipt, and many employees may be in a lower tax bracket by the time they begin receiving distributions. If a General Motors employee receives a distribution from the plan prior to age 59½, he or she may be subject to a 10% premature distribution penalty tax (unless an exception applies), in addition to ordinary income tax.

Tip:  One important exception from the 10% premature distribution penalty is for distributions from qualified retirement plans after an employee separates from service with the employer maintaining the plan, if the separation occurs during or after the calendar year in which the employee reaches age 55 (age 50 for qualified public safety employees participating in certain state or federal governmental plans).

Tip:  If a participating employee elects to take a lump-sum distribution from the profit-sharing plan, he or she may be eligible for special tax treatment.

Tip:  Distributions (other than required minimum distributions, hardship distributions, and certain periodic payments and corrective distributions) may generally be rolled over to an IRA or to certain other employer retirement plans.

Tax Deduction for Employer

If the employer maintaining the profit-sharing plan is also a participant in the plan (in the case of a sole proprietor or an owner/employee for a corporation, for example), they should be familiar with the employee tax considerations discussed above. In addition, an employer’s contributions to the profit-sharing plan are generally tax deductible on the business's federal income tax return for the year in which they make them.

The maximum annual tax-deductible contribution that the employer is allowed to make cannot exceed 25% of the total compensation of all employees covered under the plan. Any contribution in excess of this limit is not tax deductible, and is also subject to a 10% federal penalty. For purposes of calculating their maximum tax-deductible contribution, the maximum compensation base that can be used for any one plan participant is $285,000 for 2020 (up from $280,000 in 2019)

Caution:  If, in addition to a profit-sharing plan, you maintain a defined benefit plan covering some of the same employees, your annual tax-deductible contribution for both plans is limited to 25% of the total compensation of all covered employees. If the amount necessary to fund the defined benefit plan is greater than 25%, any contributions to the profit-sharing plan are not tax deductible. Consult a tax advisor for more information.

Caution:  Annual additions to any one participant's plan account are limited to the lesser of $57,000 (in 2020, up from $56,000 in 2019) or 100% of the participant's compensation. Annual additions include total contributions (employer and employee) to the participant's plan account, and any reallocated forfeitures from other plan participants' accounts. You must treat all qualified defined contribution plans you maintain as a single plan for purposes of calculating the annual additions limit.

Special Deduction Rules for 'One-Participant' Plans

Small business owners may have or wish to establish a 'one-participant' profit-sharing plan. The goal with a one-participant plan is generally to maximize the tax-deductible contribution that the business can make on behalf of the participant. This goal can often be achieved with a hybrid or 'dual-plan' approach sometimes called an 'individual 401(k) plan.' Under this approach, when calculating the 25% maximum tax-deductible contribution, the employer need not include 401(k) salary deferral contributions.

These salary deferral contributions are deductible separately. This enables a one-participant plan to accept a profit-sharing contribution equal to 25% of the participant's compensation (up to $285,000 in 2020), plus a 401(k) employee contribution in 2020 of up to $19,500 ($26,000 for a participant who attains age 50 by the end of the year). The entire contribution would be tax deductible as an employer contribution under the Internal Revenue Code (IRC).

Tip:  For 2020, the 401(k) elective deferral limit is $19,500, plus a $6,500 'catch-up' contribution for a participant who attains age 50 by the end of the year.

Caution:  The annual additions limitation (see above) still applies, so no participant's plan account can receive a total contribution that exceeds the lesser of $57,000 (in 2020) plus any age 50 catch-up contributions, or 100% of the participant's pre-tax compensation.

Example(s):  Joe, age 35, has annual compensation of $30,000 in 2020 and is the only participant in his corporation's 401(k) profit-sharing plan. Joe's plan account can receive a profit-sharing contribution of $7,500 (25% of $30,000), plus a 401(k) elective deferral contribution of $19,500. This combination results in a total contribution of $27,000, all of which is tax deductible as an employer contribution. This contribution amount falls within Joe's annual additions limitation of $30,000 (the lesser of $57,000 or 100% of Joe's compensation).

Other Advantages of Profit-Sharing Plans

Annual Employer Contributions to a Profit-Sharing Plan Are Flexible

With a typical profit-sharing plan, employer contributions generally range from 0% to 25% of an employee's compensation. As discussed, though, employers can set up a profit-sharing plan so that their contributions are discretionary, allowing them to decide on a year-to-year basis whether and how much to contribute to the plan. The employer is then required only to make 'recurring and substantial' contributions to the plan. If, instead, they set up the plan so that their contributions are based on a formula, they can include a provision that requires no contribution when certain adverse financial circumstances occur. As an employee, you may want to consult a retirement plan specialist for details.

A Profit-Sharing Plan May Allow 'In-Service' Withdrawals

As the name implies, an 'in-service' withdrawal from an employer-sponsored retirement plan is a distribution received while the plan participant is still working for the plan employer. This is in contrast to a distribution received after the participant retires or otherwise separates from service with the employer. Profit-sharing plans may allow in-service withdrawals of employer contributions after an employee has participated in the plan for a certain number of years (generally, at least five years), or after the employer contribution has been in the trust for a certain period of time (at least two years), or after the employee reaches a stated age (e.g., age 59½).

In addition, a profit-sharing plan may allow in-service withdrawals upon the occurrence of specified events, such as illness, disability, death, or financial hardship. A profit-sharing plan can allow participants to withdraw employee after-tax contributions at any time. Other types of plans are often more restrictive. For example, defined benefit plans, money purchase pension plans, and target benefit plans generally do not permit in-service withdrawals prior to the plan's normal retirement age. Special rules apply to 401(k) plans, which are a type of profit-sharing plan.

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Caution:  While your profit-sharing plan may allow in-service withdrawals, it isn't required to do so.

The ability to take in-service withdrawals from your General Motors profit-sharing plan may appeal to participating employees with financial need. However, like all plan distributions, in-service withdrawals will generally be subject to federal and state income tax. Such withdrawals may also be subject to a federal 10% early withdrawal penalty tax if the participant is under age 59½, unless an exception applies. As a result, a plan loan may be a more attractive way for participants to access money from the plan (as discussed below).

A Profit-Sharing Plan May Allow Participant Loans

You can include a provision in your profit-sharing plan allowing participating General Motors employees to take loans from the plan. (You are not required to permit loans, however.) Typically, a loan provision will enable participants to borrow a portion of their vested plan benefits. In contrast to a plan distribution, a plan loan will generally not be taxable or subject to the early withdrawal penalty tax (assuming that the loan is repaid on time and all other requirements are met). As a result, a loan provision can be an attractive feature to allow participants access to their plan funds.

Plan loans must not be made available in a discriminatory manner. That is, loans must not be made available to highly compensated employees, officers, or shareholders in an amount greater than the amount made available to other General Motors employees. In addition, the loans must bear a reasonable rate of interest and must be adequately secured. (In most cases, a loan is secured by the participant's vested plan benefits.) A loan must be repaid in regular installments within five years to avoid being treated as a taxable distribution (except for loans used to purchase a principal residence).

A Profit-Sharing Plan May Be 'Integrated' With Social Security

Essentially, integrating a profit-sharing plan with Social Security is a way to allow your plan to pay more to higher-paid General Motors employees. Despite the nondiscrimination requirements that generally govern profit-sharing plans and other qualified retirement plans, the IRS views the benefits provided by a qualified plan and those provided by Social Security as one retirement program. Because Social Security benefits for lower-paid employees represent a greater percentage of salary than for higher-paid employees, the IRS allows a qualified plan to favor higher-paid employees within specified limits. This is called 'permitted disparity.' If you are a General Motors employee you may want to consider consulting a retirement plan specialist for more information.

Disadvantages of Profit-Sharing Plans

A Profit-Sharing Plan Is Subject to Detailed Requirements

A profit-sharing plan is subject to strict nondiscrimination requirements under the IRC. Basically, this means that a profit-sharing plan cannot provide more favorable benefits or contributions for highly compensated General Motors employees than for non-highly-compensated employees. (See Questions & Answers for the definition of a 'highly compensated employee.') In order to ensure that these requirements are met, your profit-sharing plan is generally required to undergo annual nondiscrimination testing. These testing requirements are rather complex and beyond the scope of this discussion. As a General Motors employee, you should consult additional resources, such as a retirement plan specialist.

A profit-sharing plan is also subject to federal 'top-heavy' requirements. A profit-sharing plan is considered to be top-heavy if more than 60% of the account balances in the plan belong to the key employees. (Generally, the key employees are the owners and/or company officers of the General Motors business.) If your plan is top-heavy, you must make a minimum annual contribution of 3% of compensation to the accounts of all non-key employees.

Finally, a profit-sharing plan is subject to the reporting, disclosure, and other requirements that apply to most qualified plans under the Employee Retirement Income Security Act of 1974 (ERISA) and the IRC.

Tip:  ERISA doesn't apply to governmental and most church retirement plans, plans maintained solely for the benefit of non-employees (for example, company directors), plans that cover only partners (and their spouses), and plans that cover only a sole proprietor (and his or her spouse).

A Profit-Sharing Plan Can Only Allow Employee Contributions on an After-Tax Basis

As discussed, your participating General Motors employees generally cannot choose to defer a portion of their pre-tax compensation to a profit-sharing plan. This is in contrast to some other types of employer-sponsored retirement plans that allow pre-tax employee contributions.

Generally, if you want your General Motors employees to be able to contribute on a pre-tax basis, you must establish a 401(k) plan. (Consult a retirement plan specialist for more information.) Absent a 401(k) arrangement, General Motors employees can contribute to the profit-sharing plan on an after-tax basis only. In other words, income taxes would need to be withheld from an employee's salary before his or her contributions could be allocated to the plan. Roth after-tax contributions are not allowed unless the plan is a 401(k) plan.

How to Set Up a Profit-Sharing Plan

Have a Plan Developed for Your Business

Due to the nature of the rules governing qualified retirement plans, you will most likely need a retirement plan specialist to develop a profit-sharing plan that meets legal requirements, as well as the needs of your General Motors workplace. You will need to do the following:

  •  Determine the plan features most appropriate for business: Carefully review your business, looking at factors such as your cash flow and profits, your desired tax deduction, how much you and your General Motors employees will benefit from the plan, and facts about your employee population (including years of service, ages, salaries, and turnover rate). This will assist you in determining appropriate plan features, including investment vehicles, contribution levels, and employee eligibility requirements.
  •  Choose the plan trustee: The assets of the profit-sharing plan must be held in a trust by a trustee. The trustee has overall responsibility for managing and controlling the plan assets, preparing the trust account statements, maintaining a checking account, retaining records of contributions and distributions, filing tax reports with the IRS, and withholding appropriate taxes. The plan trustee can be you or a third party, such as a bank.
  •  Choose the plan administrator: Administering the profit-sharing plan involves many duties, including determining who is eligible to participate in the plan, determining the amount of benefits and when they must be paid, and complying with reporting and disclosure requirements. The plan administrator may also be responsible for investing plan assets and/or providing services to plan participants. The employer is legally permitted to handle these responsibilities in-house, but plan sponsors often hire a third-party firm to assist with the duties of plan administration. Be sure to comply with ERISA's bonding requirements if applicable.

Submit the Plan to the IRS for Approval

Once a profit-sharing plan has been developed, it should be submitted to the IRS for approval if it is not a prototype plan previously approved by the IRS. As there are a number of formal requirements that must be met (for example, you must provide a formal notice to employees), a retirement plan specialist should assist you with this task. Submission of the plan to the IRS is not a legal requirement, but it is highly recommended.

(For more information, see Questions & Answers, below.) The IRS will carefully review the plan and make sure that it meets all of the applicable legal requirements. If the plan meets all requirements, the IRS will issue a favorable determination letter. Otherwise, the IRS will issue an adverse determination letter indicating the deficiencies in the plan that must be corrected.

Adopt the Plan During the Year for Which It Is to Become Effective

You must officially adopt your plan during the year for which it is to become effective, so plan ahead and allow enough time to set up your plan before your company's year-end. A corporation generally adopts a profit-sharing plan or other retirement plan by a formal action of the corporation's board of directors. An unincorporated business should adopt a written resolution in a form similar to a corporate resolution.

Provide Copies of the Summary Plan Description to All Eligible Employees

ERISA requires you to provide a copy of the summary plan description (SPD) to all eligible employees within 120 days after your profit-sharing plan is adopted. A SPD is a booklet that describes the plan's provisions and the participants' benefits, rights, and obligations in simple language. On an ongoing basis you must provide new participants with a copy of the SPD within 90 days after they become participants. You must also provide employees (and in some cases former employees and beneficiaries) with summaries of material modifications to the plan. In most cases you can provide these documents electronically (for example, through email or via your company's intranet site).

File the Appropriate Annual Report With the IRS

Each General Motors employer that maintains a qualified retirement plan is generally required to file an annual report. The annual report is commonly referred to as the Form 5500 series return/report. You must file the appropriate Form 5500 series return/report for your profit-sharing plan for each plan year in which the plan has assets. Consult a tax or retirement plan specialist for more information.

Questions & Answers

What Employees Do You Have to Include In Your Profit-Sharing Plan?

You must include all General Motors employees who are at least 21 years old and have at least one year of service. Two years of service may be required for participation as long as the employee will be 100% vested immediately. If desired, you can impose less (but not more) restrictive requirements.

When Must Plan Participation Begin?

A General Motors employee who meets the plan's minimum age and service requirements must be allowed to participate no later than the earlier of:

  •  The first day of the plan year beginning after the date the employee met the age and service requirements, or
  •  The date six months after these conditions are met

How Is Compensation Defined?

Compensation may be defined differently for different plan purposes. For determining the annual additions limitation, compensation generally includes all taxable personal services income, such as wages, salaries, fees, commissions, bonuses, and tips. It does not include pension-type income, such as payments from qualified plans, non-qualified pensions, and taxable compensation due to participation in various types of stock and stock option plans. In addition, compensation includes voluntary salary deferrals to 401(k) plans and cafeteria plans. (General Motors Employers have some flexibility to include or exclude certain items of compensation.) This definition also applies when determining which employees are highly compensated.

What Is A Highly Compensated Employee in General Motors?

For 2020, a highly compensated employee in General Motors is an individual who:

  •  Was a 5% owner (i.e., an employee who owns more than a 5% interest) of the employer during 2019 or 2020, or
  •  Had compensation in 2019 in excess of $125,000, and, at the election of the employer, was in the top 20% of employees in terms of compensation for that year. This $125,000 limit rises to $130,000 in 2020.

When Do Employees Have Part or Full Ownership of The Funds In Their Accounts?

The process by which General Motors employees acquire part or full ownership of their plan benefits is called vesting. Employee contributions must vest immediately. In general, employer contributions either must vest 100% after three years of service ('cliff' vesting), or must gradually vest with 20% after two years of service, followed by 20% per year until 100% vesting is achieved after six years ('graded' or 'graduated' vesting).

Caution:  Plans that require two years of service before employees are eligible to participate must vest 100% after two years of service.

Tip:  A plan can have a faster vesting schedule than the law requires, but not a slower one.

What Happens to an Employee's Account If The Employee Terminates Employment Before He or She Is 100% Vested?

If a participant separates from service before being 100% vested in the plan, the General Motors employee will forfeit the amount that is not vested. The amount forfeited can then be used to reduce future employer contributions under the plan, or can be reallocated among the remaining plan participants' account balances. The IRS requires that forfeitures be reallocated in a non-discriminatory manner. This usually requires forfeiture reallocation in proportion to the General Motors participants' compensation, rather than in proportion to their existing account balances.

Do You Need to Receive a Favorable Determination Letter from the IRS In Order for Your Plan to Be Qualified?

No, a plan does not need to receive a favorable IRS determination letter in order to be qualified. If the plan provisions meet IRC requirements, the plan is considered qualified and is entitled to the accompanying tax benefits. However, without a determination letter, the issue of plan qualification for a given year does not arise until the IRS audits your tax returns for that year.

By that time, it may be too late for you as a General Motors employee to amend your plan to correct any disqualifying provisions. A determination letter helps to avoid this problem because auditing agents generally will not raise the issue of plan qualification with respect to the 'form' of the plan (as opposed to its 'operation') if you have a favorable determination letter (or if a preapproved prototype plan is used).

What Happens If the IRS Determines That Your Plan No Longer Meets the Qualified Plan Requirements?

The IRS has established programs for plan sponsors to correct defects. These programs are designed to allow correction with sanctions that are less severe than outright disqualification. Your tax professional will be able to assist you, as a General Motors employee, in utilizing these programs should the need arise. However, if you are unable to correct the defects in your plan as required, the plan may be disqualified. Loss of a plan's qualified status results in the following consequences:

  •  Employees could be taxed on employer contributions when they vest, rather than when benefits are paid
  •  Your deduction for employer contributions may be deferred
  •  The plan trust would have to pay taxes on its earnings
  •  Distributions from the plan become ineligible for special tax treatment, and cannot be rolled over tax free

Do You Have Fiduciary Responsibility for Your Employees' Accounts?

As a General Motors employer, you have a fiduciary responsibility to exercise care and prudence in the selection and appropriate diversification of plan investments. Your liability for investment returns, however, is generally significantly reduced if you allow participants to 'direct the investments' of their own accounts. A plan is considered 'participant-directed' if, among other requirements, it:

  •  Allows participants to choose from a broad range of investments with different risk and return characteristics
  •  Allows participants to give investment instructions at least as often as every three months
  •  Gives participants the ability to diversify investments, both generally and within specific investment categories
  •  Gives participants sufficient information to make informed investment decisions

Caution:  If you sponsor a participant-directed plan, you may assume some responsibility for investment education of your participating employees. The challenge is to provide the appropriate level of investment education without becoming legally responsible for your employees' investment decisions. This is an issue to consider carefully when implementing a profit-sharing plan or other qualified retirement plan.

Tip:  The Pension Protection Act of 2006 created a new prohibited transaction exemption under ERISA that allows related parties ('fiduciary advisers') to provide investment advice (including, for example, recommendation of the advisor's own funds) to profit-sharing (and other defined contribution) plan participants if either (a) the advisor's fees don't vary based on the investment selected by the participant, or (b) the advice is based on a computer model certified by an independent expert, and certain other requirements, including detailed disclosure requirements, are satisfied. The Act also provides protection to retirement plan fiduciaries where an employee's account is placed in certain default investments in accordance with DOL regulations because the participant failed to make an affirmative investment election. These provisions generally became effective January 1, 2007.

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For more information you can reach the plan administrator for General Motors at 1 general mills blvd Golden Valley, MN 55426; or by calling them at 1-800-248-7310.

Company: General Motors*

Plan Administrator: 1 general mills blvd Golden Valley, MN 55426 1-800-248-7310

Resources General Motors* Employees May Enjoy

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  • Retirement Advice May Help General Motors Employees
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*Please see disclaimer for more information

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General Motors Business Information

  • Revenue: 6010.7
  • Profit: -381.3
  • Number of Employees: 22500
  • Sector: Retailing
  • CEO: Matthew Furlong
  • Stock Ticker: GME
  • Market Cap: 12716.6

General Motors Contact Information

  • 625 WESTPORT PARKWAY, GRAPEVINE, TX, 76051
  • (817) 722-7581
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general motors business plan

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A spotlight on sustainability

Tomorrow's choices, today, embracing clean mobility, a step ahead, connecting aspirations. delivering value., the electric advantage, building for progress, future-ready begins here, our responsibility, committed to do good, agile, new-age and future-ready.

Part of the USD 150 billion Tata Group, Tata Motors, a USD 44 billion organisation, is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses. We are India’s market leader in commercial vehicles and amongst the top three in the passenger vehicles market. We prioritise human centricity with technological prowess and engineering excellence to make cargo and passenger mobility safer, smarter and greener.

1 million +

Vehicles sold annually

Collective workforce strength

Quality is first engineered, and then it is inspected

J.r.d. tata, tata motors is taking concerted actions to be future-ready, natarajan chandrasekaran non-executive director and chairman.

of quality engineering

125 + countries

Global presence

Our manufacturing

Rich heritage in innovation and excellence.

Facilities across the globe

Pioneering sustainable mobility solutions

Our businesses, new forever.

Cutting-edge designs, quest to excel and promise to delight customers keeps us ahead of the curve. Our cars and SUVs offer best-in-class safety and superior driving experience.

general motors business plan

Evolve to the new age of zero emissions, quieter drives and connected mobility.

general motors business plan

Going strong

Our commercial vehicles rule the roads they run on. No terrain is too challenging and no load too heavy.

general motors business plan

A class apart

We bring you global brands that define modern luxury and are steeped in a rich legacy of timeless designs.

general motors business plan

Investor relations

Connecting aspirations, creating value.

79th Integrated Annual Report 2023-24

Results for Quarter Ending 31st March 2024

Tata Motors - Ordinary Share Price

Share price

32.25 ( 3.43 % )

07,Jun 2024 12:00 AM

Sustainability, our roadmap to net zero.

We are making responsible choices. By prioritising sustainable mobility, safety, emission reduction and use of eco-friendly materials, we are driving meaningful change.

United by passion and talent

general motors business plan

Smart customers aspire vehicles that deliver climate change neutrality, best-in-class features and safety. No compromises.

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© Copyright 2024. All rights reserved. Tata Motors Limited.

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COMMENTS

  1. General Motors to Outline Plans for Decade of Growth, Doubling of

    General Motors Co. (NYSE: GM) meets with investors today and tomorrow to detail its plans to double annual revenues by the end of the decade while growing EBIT-adjusted margins as it transitions to an all-electric future. GM has already announced plans to invest $35 billion through 2025 in all-electric and autonomous vehicles and launch more than 30 new EVs globally.

  2. GM Details Plan to Double its Revenue, Drive Even Higher Margins

    WARREN, Mich. - General Motors Co. (NYSE: GM) today provided a detailed roadmap of how the company plans to double its annual revenue and expand margins to 12 to 14 percent by 2030, as a result of GM's transformation into a growth company driven by EVs, connected services and new businesses. "GM has changed the world before and we're doing it again," said GM Chair and CEO Mary Barra.

  3. GM outlines business strategy and plans to 2030

    Platforms: GM projects EV revenue to grow from about $10 billion in 2023 to approximately $90 billion annually by 2030 as the company launches several compelling EVs in high volume segments. GM ...

  4. GM Will Boost EV and AV Investments to $35 Billion Through 2025

    DETROIT - General Motors Co. (NYSE: GM) announced today it will increase its EV and AV investments from 2020 through 2025 to $35 billion, representing a 75 percent increase from its initial commitment announced prior to the pandemic.. The company's enhanced commitment will accelerate its transformative strategy to become the market leader in EVs in North America; the global leader in ...

  5. General Motors Strengthens Core Business and Future Mobility

    well is critical to position General Motors for success for generations to come." - Mary Barra, Chairman and CEO NEW YORK — General Motors (NYSE: GM) today provided investors with an update on its comprehensive strategic plan as it continues to build the foundation for the company's long-term success. GM also said it expects earnings ...

  6. Electric takeaways from General Motors' new business plan

    General Motors is offering detailed revenue goals for its electric vehicle business and new info about plans for new models. Driving the news: Here are the juicy bits of their investor presentation and announcements Wednesday. GM's gunning for "leadership in EV market share" — a shot across Tesla's bow — with a broad portfolio of high-volume EVs.

  7. General Motors to Outline Plans for Decade of Growth, Doubling of

    General Motors Co. (NYSE: GM) meets with investors today and tomorrow to detail its plans to double annual revenues by the end of the decade while growing EBIT-adjusted margins as it transitions ...

  8. GM CEO says committment to all-electric fleet remains firm despite

    June 4, 2024, 6:02 PM UTC. By Tom Costello and Rob Wile. General Motors CEO Mary Barra says the storied automaker's plan to turn its fleet 100% electric will now play out "over decades." In an ...

  9. General Motors outlines 90 days of business plan progress

    General Motors on October 7 outlined progress it has made toward achieving commitments in its business plan, including implementing a leaner structure, building stronger brands, and driving a company culture that puts the customer at the center of everything it does.

  10. GM Advances Ambitious Global Future Growth Strategy

    Ci2Eye. A battery cycle is considered 100-0 so say you commute 30 miles per day and your vehicle has 300 miles range/ 100% charge You have 10 days/ cycle x 1000 cycles =10,000 days that translates ...

  11. GM Plans New EV Startup Business Model For Europe

    Since November 2021, GM has significantly expanded its operations in Europe, as it prepares to launch a new, non-traditional startup, leveraging GM's global growth investments. In the past year ...

  12. GM's 2025 platform plan: Simplify and seek to save billions

    It could be a defining element of Chief Executive Mary Barra's legacy at General Motors Co <GM.N>: A drastic shift over the next 10 years from 26 global vehicle production platforms to just four ...

  13. GM outlines Strategic Plan

    October 1, 2014. General Motors Co. (NYSE: GM) CEO Mary Barra and her executive leadership team outlined the company's customer-focused strategic plan to become the most valued automotive ...

  14. Why GM is suddenly accelerating attrition with buyout plan

    GM's $2 billion cost savings target "is a start," said Dan Ives, an industry analyst with Wedbush Securities Inc. "It's a proactive move they needed to make," adding it's "near-term pain ...

  15. GM Business Plan

    gm business plan - Free download as PDF File (.pdf), Text File (.txt) or read online for free. General Motors outlines its 5-year business strategy in the following ways: 1) GM will focus on restructuring its brands by selling off or closing brands such as Saab, Saturn, and Hummer, while strengthening its core brands of Chevrolet, Cadillac, and Buick.

  16. GM develops continuity plan amid China's COVID-19 outbreak

    General Motors Co said on Monday it has developed a global continuity plan with its partners and suppliers to mitigate the uncertainty faced by the auto industry following China's COVID-19 outbreak.

  17. 2022 Annual Report

    Business General Motors Company (sometimes referred to as we, our, us, ourselves, the Company, General Motors, or GM) was ... Electric Vehicles We plan to rapidly scale our capacity to build one million EVs in North America and more than two million EVs globally by the end of 2025. A key element in our EV strategy is Ultium, our dedicated ...

  18. Business Plan Template for General Motors

    A business plan template for General Motors can provide numerous benefits for entrepreneurs or business owners looking to start an automotive manufacturing company. Some of these benefits include: Comprehensive market analysis specific to the automotive industry, giving you a deep understanding of market trends, competition, and potential ...

  19. Profit-Sharing Plan For General Motors Employees

    A profit-sharing plan is a type of qualified defined contribution plan in which the employer contributes to the accounts of participating General Motors employees. As the name implies, employer contributions are generally (but not necessarily) tied to the business's profits, allowing employees to 'share' in those profits.

  20. GM is poised for growth as automaker targets trillions in new markets

    The Detroit automaker's innovation division has identified $1.3 trillion in new market opportunities that it believes complements its core business. GM's majority-owned autonomous vehicle unit ...

  21. Tata Motors Official Website

    Part of the USD 150 billion Tata Group, Tata Motors, a USD 44 billion organisation, is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses. We are India's market leader in commercial vehicles and amongst the top three in the passenger vehicles market.

  22. General Motors to Outline Plans for Decade of Growth, Doubling of

    Additional discussions will be led by executives, software developers and engineers driving new business ventures including BrightDrop, OnStar Insurance, Ultium Charge 360, e-commerce and subscription services. General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At ...

  23. Britannica Money: Where your financial journey begins

    The paradox of thrift: Understanding economic behavior in recessions. Individually great; collectively painful. Find all you need to know about retirement, investing, and household finance, without the jargon or agenda. Get guidance, insight, and easy-to-understand explanations, verified to Britannica's standards.

  24. STRATEGIC AND OPERATIONAL OVERVIEW

    Headquartered in Detroit, MI; Reorganized in 2009 as General Motors Company, with over 100 years of automotive experience. Meeting the needs of our customers through our 10 distinct brands in 140+ countries. Delivered 9.8M retail1 sales and 5.9M wholesale2 units in 2015.

  25. Learn More About GM's Vision

    Headquartered in Detroit, Michigan, with employees around the world, General Motors is a company with global scale and capabilities. Employing over 165,000 people. Serving six continents. Operating across 22 time zones.