Sizable market shares across most major North American vehicle segments; Ongoing profitability in its North American operations, positive cash generation in its global automotive operations, and substantial cash balances; and Geographic breadth with operations in all significant non-U.S. markets, including a leading presence in China. Uncertain timing of European operations' return to profitability along with ongoing cash use there; The ongoing need to sustain improvements in U.S. consumer perception of their products, in our view; Overdependence on light trucks and pickups in North America for profitability; and Large, unfunded pension obligations; The rating reflects Standard&Poor's Ratings Services' view that, among other things, Detroit-based General Motors Co.'s (GM's) prospects for generating free cash flow and profits in its automotive
