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TheStreet Open House

General Motors' CEO Discusses Q1 2012 Results - Earnings Call Transcript

This morning, Dan Akerson, General Motors' Chairman and CEO, will provide opening remarks, followed by a more detailed review by Dan Ammann, Senior Vice President and CFO. Dan Akerson will then conclude the remarks portion of our call with some closing remarks. After the presentation portion of the call, we will open the line for questions from security analysts.

Also, in the room today, we have Nick Cyprus, Vice President, Controller and Chief Accounting Officer; Jim Davlin, Vice President Finance and Treasurer; and Chuck Stevens, CFO North America and South America, to assist in answering your questions.

With that, I'd like to turn the call over to Dan Akerson.

Daniel F. Akerson

Thanks, Randy, and thank you to everyone on the call for joining us. General Motors had another solid quarter. Our EBIT adjusted results are strong. We had product success stories in every region of the world, especially with Chevrolet. Among the 20 largest automotive brands in the world, Chevrolet has been the fastest-growing for the last 2 calendar years.

Big marketplace wins like these are happening because we continue to advance the 4 strategies that are the foundation of how we run the business. Simply put, they are designed to build the world's best vehicles, strengthen our brands, grow profitably around the world and maintain our fortress balance sheet. We made good progress on this strategy last year, and we didn't let up in the first quarter of this year either.

I'll review each of the highlights through my remarks. But as you hear them, remember this. This management team is not getting ahead of ourselves. We are confident in our plan. We're pleased with the progress in most areas, and we have internal issues we're fixing. We're not immune to the industry issues like recession or overcapacity in Europe or competition that's intensifying everywhere we do business. Everyday, we keep our teams focused on these cold hard facts because it instills discipline, and discipline helps deliver better results.

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