General Motors India

Finance Overview

GM History
1928
GM enters India market. Assembles Chevrolet & Vauxhall cars and
Bedford trucks
1954
GM exits market, unfavorable business climate; 386,000 vehicles
produced
1994

GM India re-enters market with a 50/50 joint venture

1996

Purchases HM Isuzu facility, starts assembly of Opel Astra

Milestones
2005

2005

Indirect M& E Operations set-up in Bangalore.

SFO Organization set-up in Bangalore

2004 Financial Shared Services established at Bangalore.

Chevrolet Tavera Launch. First time experience in Localization
2004
(83%), of. Power-train, Skin Panels and key Components
GM
Sets up Engineering Services and R & D Centre in Bangalore,
2003
Southern India.
2003 Chevrolet Brand Launched with Optra and Forester.
1999
GM India becomes a 100% fully owned subsidiary of GMC
1997

GMAC launches Auto Financing Venture

SPO launches All Makes AC DELCO Venture

GM India begins Operation at Halol, in Western India

1996
as a 50:50 JV with local entrepreneur CK Birla

GM Locations all over India

Mktg Office
Delhi
Gurgaon

Indore

Mfg Plant

Halol

Mumbai

New Greenfield Site

Nashik
Pune

Bangalore

Chennai

Tech Center,
SFO,FSS Center

GM has regional
sales
offices at Mumbai,
Kolkata and Chennai

Products manufactured at Halol

Mini B2 Segment

Small Segment

Chevrolet Aveo Uva- HB

Chevrolet Aveo NB

2007 localization 34%, Peak

45%

2007 localization 18 %,
Peak 20%

Chevrolet Tavera

2007 localization 45 %, Peak 53 2007

%
localization 92 %, Peak 9

Lower Med
Segment

Chevrolet Optra HB

Med-Utility Segment

Chevrolet Optra NB

2007 localization 18 %, Peak 20%

Mini B1 Segment

Chevrolet Spark

2007 localization 37 %, Peak

65%

Finance Roles Chart

As on 30-Oct-2006

AP CFO

CEO

CFO

Admin
Asst.

Controller

Taxation

Controller

GL Accounting Direct Taxes

Internal
Controls

Transaction
Processing

ACS

Controller

Treasury

Aftersales
Indirect Taxes
Finance

Real
Estate
TCI / GSS
/ FSSC
Support

Controller

VSSM Finance

New Business
Devt

Product
Finance

Controller Controller

Mfg
Finance

GPSC
Finance

Special
Projects

Engg
Finance

Inventory
Control

Systems

HR
Finance
IS&S
Finance
Fixed
Assets

OA

Transaction Processing
Transaction processing activities of
accounting section are migrated to BPO
called ACS at Bangalore
All the documents like RFCs , Invoices ,
Expenses reports needs to be submitted
directly to Mail Room Co-ordinator ( MRC )
by the respective employee
All the employees needs to obtain
necessary approvals from the concerned
persons before forwarding the same to
MRC
Only original documents to be submitted
to mail room until and unless due
approvals are obtained in advance.
MRC Contact detail : K Sivadasan ( Extn

Policies to remember
Delegation of Authority
Defines approving levels of all the major activities like AR, PR, etc
Needs to be within the framework of GMAP DoA
Deviation to DoA needs to be approved by CEO

Opening of Suspense Account

Record all the financial transactions with the particular employee
Fill up Suspense account Opening form and forward to the Mail room co ordinator
Account opening form is a sort of undertaking from the employee that he will not misuse GMI
Funds

Cash Advance
Obtain approvals as specified in DoA
Maximum of Rs 10,000 can be paid as cash advance
Exception needs to be pre approved by CFO

All policies, procedures, forms are available in lotus notes databas

Policies to remember
Petty Cash reimbursement
Maintained to reimburse minor expenses incurred on behalf of the company
Petty cash reimbursement not to exceed RS 1000 per occurrence
Obtain approvals as specified in DoA

Reimbursement through Expense Report

the

Expense Report to be submitted to MRC as soon as possible but not later than 15 days from
last date of expense
NO PO form required in case purchase value exceeds Rs 2500
Purchase of CAPEX items are not allowed through ER route

Traveling (Domestic & International)

Understand the lodging and daily allowance limit before going on any travel
Special care to be taken in calculating the number of days traveled
Ensure Travel Request are pre approved

All policies, procedures, forms are available in lotus notes databas