EFTA01385142.pdf

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 starts with a look at the cost of Vehicle Ownership A number of variables are likely to impact how consumers will behave when presented with options for personal mobility. These include safety, convenience (the car is an extension of the home and it contains many personal items), flexibility, and cost. In our PCOT 2 report we focused our analysis on the cost side of the equation with most of our efforts centered on the most densely populated metropolitan markets (i.e. dense urban centers), as we believe that population density will play a key role in driving the economics and practicality of shared mobility models. Interestingly, based on variables that we've collected from census data, taxes, parking costs, insurance costs, and other factors, the cost of individual vehicle ownership varies greatly by metro area. For example, while we assumed that variable cost (i.e. fuel, maintenance, tire replacement costs, and depreciation) was relatively stable at -$0.47 per mile in most regions, fixed costs (i.e. insurance, registration, taxes, parking, and traffic tickets) could range from $3,000 to $6,000 (20 MSA average is -$4,500). On average, across 20 metropolitan areas, the cost of operating an individually owned vehicle is $0.93 per mile. However, it ranges from $0.70-$0.75 in St. Louis and Atlanta to $3.35 in Manhattan. In addition, vehicles are typically driven with only 1 occupant (70%-80% of the time), which makes these data points a good proxy for individual mobility costs. Figure 1: Cost of private vehicle ownership Top 20 MSAs Nationwide variable cost ($/mile) fuel cost 0.11 0.11 maintenance 0.11 0.11 depreciation 0.25 0.25 tires 0.01 0.01 variable cost per mile 0.47 0.47 fixed cost ($/year) insurance 948 838 license, registration, taxes 718 718 parking 1,690 1,014 traffic tickets 75 75 finance cost 1,012 1,012 4,443 3,657 miles traveled 9,658 12,000 fixed cost per mile 0.46 0.30 cost of ownership per mile 0.93 0.78 Sows MA in Musswe bleireniece /Pint OS tames Page 8 Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0086215 CONFIDENTIAL SDNY_GM_00232399 EFTA01385142