1 October 2017 Autos & Auto Parts General Motors Co Markets, and adjacent opportunities je.g. Delivery, Data) could easily double this. As noted above, GM also pointed out that a n

24 September 2017 Autos & Auto Parts General Motors Co IEv!fICIWIS an.) rIlei Year End Dec 31 2016A 2017E 2018E FY EPS (USDI 6.12 6.00 5.79 OLD FY EPS (USD) 6.12 6.03 6.17

24 September 2017 Autos & Auto Parts General Motors Co Google may provide transparent vehicle location and pricing data from a number of providers). Assessing the market opportunity

1 October 2017 Autos & Auto Parts General Motors Co Valuation and Risks Our DCF-derived target price is $51/share. Our estimate assumes $41/share for GM's 1.0 operation, implying

24 September 2017 Autos & Auto Parts General Motors Co The Cost of On Demand Mobility Business models based on Shared Mobility are fundamentally sound, as they take advantage of the

24 September 2017 Autos & Auto Parts General Motors Co developed by GM in what is known as the "Global B" architecture). While this is probably not an insurmountable challenge, it wil

24 September 2017 Autos & Auto Parts General Motors Co But we believe GM may surprise... While some of the historical characterizations of GM are accurate, there are clear signs that

24 September 2017 Autos & Auto Parts General Motors Co IFigure 4: Variable Cost per Mile of On-Demand Autonomous Vehicles variable cost (per mile) mapping and data services fuel cos

24 September 2017 Autos & Auto Parts General Motors Co notable exceptions such as New York City-being the city that never sleeps). This implies that these vehicles would generate 56,0

I May 2015 Autos & Auto Parts Delphi Automotive [Figure 3: Delphi Income Statement Delpla Annuel Insoles Statement (Dollar and Shores In Milans (a)) 2014 UsA .14•4 840.4 N

I May 2015 Autos & Auto Parts Delphi Automotive Delphi's 1O15 came in very strong. EPS of $1.21 compared with DBe of $1.15 and consensus of $1.17. Organic top line growth came

I May 2015 Autos & Auto Parts Delphi Automotive Model updaled:30 April 2015 burin am the numboo. North America United States Autos & Auto Parts Delphi Automotive Reuters:

1 May 2015 Autos & Auto Parts Delphi Automotive [Figure Delphi 01'15 EBIT Walk Remanue EBIT C1114 Base (ex Thermal) Volume 3.897 271 463 98 36% incremental on volume

1 May 2016 Autos & Auto Parts Delphi Automotive [Figure 4: Delphi Discounted Cash Flow Delphi Discounted Cash Flow Analysis On $ millions) 2013 2014 2015E 2016E 2017E 20

I May 2015 Autos & Auto Parts Delphi Automotive Appendix 1 Important Disclosures Additional information available upon request Disclosure checklist Company Ticker Recent p

1 May 2015 Autos & Auto Parts Delphi Automotive Regulatory Disclosures 1.Important Additional Conflict Disclosures Aside from within this report, important conflict disclosure

1 May 2016 Autos & Auto Parts Delphi Automotive and/or services, customers should carefully read the relevant disclosures, prospectuses and other documentation. "Moody's", "Sta