Chevy: Finding new roads to success Overview & KBB.com Recommendations

Chevy 2015 Solid performance with highlights throughout

2015 YTD Performance Overview Chevy’s 2015 has been solid thus far 399M TOTAL IMPRESSIONS1 712,572 TOTAL CLICKS1 11.4% MORE SHOPPERS YOY (JUN ‘15 VS. ‘14)2 #2 OUT OF ALL OEMs FOR TIME SPENT2 DFP, 1/1/15-7/26/15 KBB.com Omniture

Chevy’s creative is on the right track Several placements are performing well above their benchmark CTRs Zip Code Overlay 0.44% CTR vs. 0.41% Benchmark* Car Values HP Leaderboard 0.42% CTR vs. 0.33% Benchmark* Mobile 0.28% CTR vs. 0.23% Benchmark* HP Showroom: More than 3x the benchmark*! (0.20% CTR vs. 0.06; likely due to bright-color vehicle image) NC News & Advice Spotlight 0.19% CTR vs. 0.14% Benchmark* Source: DFP, 2015 YTD *Benchmarks from competitive set consisting of Ford, Honda, Hyundai, Nissan, Ram, Toyota

Biggest opportunities in 2016

Advertising on KBB.com has built a steady flow of conversions for Chevy Chevy reaches a variety of shoppers through consistent, high-reach tactics and New Car retention

But despite selling the 2nd-most vehicles in 2013, Chevy is 3rd in consideration among KBB.com shoppers Source: BrandWatch; All Non-luxury Makes: 2014 Q2 Q: Please select at most 5 vehicles that you are currently shopping Statistically significant at 95% 7 |

Chevy ranks 4th in shopper share, trailing the top 3 by a significant margin KBB.com Omniture

In 2016, Chevy’s key to growing success will be to embrace the brand mantra and FIND NEW ROADS on KBB.com Re-pave Retention Strengthen Chevy’s relationship with your current owners Make Conquesting a 2-way street Conquest competitors that are cross-shopped with Chevy Build new lanes of access Take the lead in mobile traffic and time spent

Re-pave retention Strengthen Chevy’s relationship with your current owners

When returning to the market to shop for a new vehicle, 70% of consumers intend to shop for different makes1 27% had the body style of the vehicle in mind but not make or model 15% had a certain class of vehicle in mind but not make or model 10% had certain features in mind but not make or model Over half of car buyers have attributes in mind when shopping for their next vehicle, but not a specific make. References/Notes: 2015 IHS/AutoTrader.com Automotive Buyer Influence Study (KBB Summary) - https://coxautoinc.box.com/s/zjdnr1gwyw92v4ofueofrb5fgftvwpqa Slide 10: Initial Make/Model Purchase Intentions Q: Thinking back to when you first considered purchasing a vehicle, which of the following best describes your purchase intention? *Asked on Web Surveys Only Base: All Buyers (1216) 1: 2015 IHS/AutoTrader.com Automotive Buyer Influence Study Q: Thinking back to when you first considered purchasing a vehicle, which of the following best describes your purchase intention? *Asked on Web Surveys Only Base: All Buyers = 1216

And the longer they've owned the make, the less likely they will consider the same brand as their next vehicle 10pp drop after 36 months2 References/Notes: “Analysis shows that the longer consumers hold onto vehicles, the less likely they remain loyal to a brand” - https://www.experianplc.com/media/news/2014/analysis-shows-that-the-longer-consumers-hold-onto-vehicles/ In Experian’s analysis, the company found that owning a car for one year held a brand loyalty rate of 57.3%, while owning it for 12 years had a brand loyalty rate of 33.8%. While the drop in brand loyalty was consistent with ownership length, the largest change came after 3 years of ownership. That's when brand loyalty dropped off by 10 percentage points. He also added that the more time a customer had between dealer interactions, whether for service or sales, the higher the probability they would leave the brand. The most significant drop in brand loyalty occurred after 36 months, dropping by nearly 10 percentage points, Experian said. In loyalty terms, Ford and Subaru held the top two spots at 61 percent and 59 percent, respectively. Ford’s loyalty slipped from a year earlier when it was 62 percent. Subaru’s was 57 percent. The average length of ownership for a Ford was 110 months, up from 107 months a year earlier. The average length of ownership for a Subaru was 85 months, down from 88 months a year ago. In contrast, Dodge and Buick led the industry in length of ownership with an average of 113 months. But Dodge’s loyalty rate was 23 percent and Buick’s was 38 percent. Acura and Volvo led the luxury vehicle segment with the longest length of ownership in Q1 2014 at 99 months and 92 months, respectively. Lexus and Mercedes-Benz led the luxury-vehicle segment with the highest brand loyalty in Q1 2014 at 55.8% and 52.7%, respectively. Source: Experian. November 2014. https://www.experianplc.com/media/news/2014/analysis-shows-that-the-longer-consumers-hold-onto-vehicles/

43% improvement in market share2 Brands lose market share when their existing owners defect to a competitive brand OEMs are driving aggressive conquest programs to gain market share… …and it’s working! of repeat car buyers purchase a brand they have never owned before1 41% “"We're getting a lot of new, conquest buyers out of imports and domestics.” - Jim Morrison, Jeep Marketing Director 43% improvement in market share2 References/Notes: 2015 IHS/AutoTrader.com Automotive Buyer Influence Study (KBB Summary) - https://coxautoinc.box.com/s/zjdnr1gwyw92v4ofueofrb5fgftvwpqa Slide 12: Vehicle Purchase History Base: All Buyers (2014 = 1886), (2015 = 2277) Qs3a. Was this the first time you have ever purchased a vehicle? 6% - Yes (137) 94% - No (2140) Qs3d. Prior to this [insert make], had you ever owned a [insert make] before? 39% - No (888) 55% - Yes (1252) Slide Calculation: Of repeat car buyers (base = 2140), how many have never owned the brand before? 41% = 0.41 = (888/2140) “Loyalty Drives U.S. Automotive Market Share Gains, According to IHS Automotive” - http://press.ihs.com/press-release/automotive/loyalty-drives-us-automotive-market-share-gains-according-ihs-automotive 1: 2015 IHS/AutoTrader.com Automotive Buyer Influence Study Q: Was this the first time you have ever purchased a vehicle? Q: Prior to this [insert make], had you ever owned a [insert make] before? Base: Repeat Buyers = 2140 2: IHS Automotive. June 2014. http://press.ihs.com/press-release/automotive/loyalty-drives-us-automotive-market-share-gains-according-ihs-automotive

Chevy ranks 5th in “Loyalty” on KBB.com Leading OEMs also invest significantly in retention pages on Owners Invest significantly in Owners Retention Source: KBB.com Omniture, Q2 2015

The majority of Chevy owners are defecting Source: KBB.com Omniture, 2Q15 Source: KBB.com Omniture, Q2 2015 15 |

Other OEMs are enjoying strong performance on Chevy’s Owner pages 0.38% CTR of two of Chevy’s top competitors within Chevy’s STM 69% of impressions are going to other makes Source: DFP, 1/1/15 – 6/30/15

Recommended strategies for Owners MAKE/MODEL INVESTMENT Guard against conquesting by purchasing 100% of inventory for all Chevy vehicles’ last 8 model years MAKE/MODEL PATH PAGE SPONSORSHIP Upgrade your presence and excite owners with new clickable wallpapers down the pricing path OWNERS HOME PAGE SPONSORSHIP – BILLBOARD & VIDEO MARQUEE UPGRADE Amplify Retention with periodic, high- impact takeovers of the Owners Home Page

Make Conquesting a 2-way Street Conquest competitors that are cross-shopped with Chevy

Chevy’s launch model segments have seen recent increases in activity, especially compact SUV Trax Cruze, Spark Malibu Volt Camaro Source: KBB.com Omniture Source: KBB.com Traffic Data June 2014 – June 2015

With nine new models recently launched or scheduled to launch, subcompact SUV competition is heating up 2015 Spring 2015 2011 2015 Summer 2015 2015 Summer 2015 2012 2012 2013 2015 Spring 2015 2015 Spring 2015 2015 Spring 2015 Years = launch of first-generation for vehicle Note: Years denote release of first generation of vehicle 20 20

Trax launched first but has not been able to build interest the way the other new models have When HR-V and CX-3 are fully launched they should be the primary targets for Trax, along with Renegade. This is a good way to put more emphasis on mobile with young buyers. Source: KBB.com Omniture 21 |

Trax: Cross-shopping & Conquesting Recommendation Percentage of Visitors Who Looked at the Chevrolet Trax and also Looked at Other Vehicles Year: 2015 Quarter: Q2 Vehicle % Visitor XS Rank YoY Rank Change Honda CR-V 18.3% 1 n/a Mazda CX-5 17.9% 2 Jeep Renegade 3 Subaru Impreza 12.6% 4 Honda Civic 5 Chevrolet Equinox 12.3% 6 Toyota Corolla 12.1% 7 Nissan Versa 11.6% 8 Subaru XV Crosstrek 11.5% 9 Dodge Dart 11.4% 10 Mazda MAZDA3 11.3% 11 Honda Fit 12 Kia Forte 11.2% 13 Ford Escape 10.8% 14 Nissan Rogue 10.6% 15 RECOMMENDED TARGETS Honda HR-V Mazda CX-3 Jeep Renegade Nissan Versa Dodge Dart Kia Forte Nissan Rogue When HR-V and CX-3 are fully launched, they should be the primary targets for Trax Low-loyalty brands* Source: KBB.com Omniture *Defined as non-luxury OEMs with less than 50% “Loyalty” as defined by KBb.com Omniture 22 |

Camaro’s next generation has an uphill battle against the recently launched Mustang, which drives the category Source: KBB.com Omniture

Camaro: Cross-shopping & Conquesting Recommendation RECOMMENDED TARGETS Ford Mustang Dodge Challenger Dodge Charger Nissan 370Z Mazda MX-5 Miata Mazda MAZDA3 Longtime category leader Low-loyalty brands* Source: KBB.com Omniture *Defined as non-luxury OEMs with less than 50% “Loyalty” as defined by KBb.com Omniture

Cruze continues to sell well, but shopper awareness is low Source: KBB.com Omniture Source: KBB.com Omniture

Cruze: Cross-shopping & Conquesting Recommendation RECOMMENDED TARGETS Mazda MAZDA3 Volkswagen Jetta Hyundai Elantra Kia Forte Nissan Altima Dodge Dart Mazda draws an outsized share of shoppers, many of whom are earlier in the process, so it’s ripe for targeting Low-loyalty brands* Source: KBB.com Omniture 26 | Source: KBB.com Omniture *Defined as non-luxury OEMs with less than 50% “Loyalty” as defined by KBb.com Omniture

Spark outshines the better-selling Fit and only slightly trails the segment-leading Versa Source: KBB.com Omniture

Spark: Cross-shopping & Conquesting Recommendation RECOMMENDED TARGETS Nissan Versa Honda Fit Kia Rio Scion iQ Mitsubishi Mirage Hyundai Accent Category leaders Low-loyalty brands* Source: KBB.com Omniture Source: KBB.com Omniture *Defined as non-luxury OEMs with less than 50% “Loyalty” as defined by KBb.com Omniture 28 |

Volt still has a traffic advantage versus Leaf, despite having been eclipsed in sales in 2013 Source: KBB.com Omniture Source: KBB.com Omniture 29 |

Volt: Cross-shopping & Conquesting Recommendation RECOMMENDED TARGETS Nissan LEAF Tesla Model S Volkswagen Jetta Volkswagen e-Golf BMW i3 Nissan Altima Outsells Volt Popular among shoppers Gaining momentum in segment Low-loyalty brands* Source: KBB.com Omniture Source: KBB.com Omniture *Defined as non-luxury OEMs with less than 50% “Loyalty” as defined by KBb.com Omniture 30 |

Malibu struggles to generate shopper interest and can benefit by targeting non-Japanese OEMs Source: KBB.com Omniture Source: KBB.com Omniture 31 |

Malibu: Cross-shopping & Conquesting Recommendation RECOMMENDED TARGETS Hyundai Sonata Ford Fusion Nissan Altima Volkswagen Tiguan Mazda MAZDA6 Within reach and buyers are not wedded to Japanese brands Low-loyalty brands* Source: KBB.com Omniture Source: KBB.com Omniture *Defined as non-luxury OEMs with less than 50% “Loyalty” as defined by KBb.com Omniture 32 |

Recommended strategies for Conquesting Advantage Overlay DATA-INFORMED TARGETING FOR LAUNCH MODELS Leverage KBB.com insights to select targets based on shopping behavior and likelihood to defect Fuel Savings Calculator Trade-in Evaluator KBB.COM TURN-KEY CUSTOM SOLUTIONS Allow KBB.com’s creative and production services to illustrate the insights that will resonate with competitive shoppers ADVANTAGE OVERLAYS pull in relevant data FUEL SAVINGS CALCULATOR shows MPG advantages over competitors Competitor performs as high as 0.55% CTR on Chevy’s pages TRADE-IN EVALUATOR calculates the cost of a new Chevy using Owner’s trade-in value; averages 0.65% CTR

Build new lanes of access Take the lead in mobile traffic and time spent

41% of online auto shoppers use multiple devices to research Source: J.D. Power 2014 New Autoshopper Study (NAS), Sept 2014 Q: Prior to purchasing your new vehicle, which of the following devices did you use to gather information while shopping for your new vehicle, either through the Internet or app? (note: gaming console not included in 2012)

KBB.com reaches millions of in-market shoppers every month Mobile and tablet continue to grow Source: KBB.com Site Data Monthly Average (Omniure Site Catalyst), Visits Monthly Average Actuals Jan 2010 – April 2015.

Chevy’s mobile share is in the thick of the competition Include loyalty slide Source: KBB.com Traffic Data Q1 2012 - Q1 2015 37

Chevy battles Ford for most time spent on mobile Source: KBB.com Omniture

Recommended strategies for Mobile/Tablet TABLET CATEGORY SPONSORSHIP Maintain top-of-mind awareness for shoppers in key categories on tablet KBB.COM CUSTOM SMARTPHONE BRANDING SOLUTIONS Communicate simple, compelling stories such as Chevy’s KBB.com accolades in engaging, mobile-friendly experiences EVERGREEN SMARTPHONE SEGMENT TARGETING Follow segment shoppers on smartphone throughout the year, which few other OEMs are leveraging Especially for younger-skewing models such as Trax 39 |

FIND NEW ROADS in 2016 – Key Takeaways WHY? Re-pave Retention Strengthen Chevy’s relationship with your current owners Car owner loyalty is diminishing overall Chevy’s competitors are seeing strong performance on Chevy’s pages HOW? “Own” Owners 100% SOV in Retention Informed conquesting (also in New Car where available) Strategic Home Page Billboard &Video Marquee Upgrades Dominate Mobile/Tablet Tablet Category Sponsorships Smartphone Segment Targeting Take advantage of turn-key custom solutions throughout Make Conquesting a 2-way street Conquest competitors that are cross-shopped with Chevy Chevy’s launch models face tough battles from within and outside their segments Multi-device usage is increasing Chevy is poised to be a leading OEM in mobile shopping Above average smartphone performance Support additional lanes Take the lead in mobile traffic and time spent

Appendix KBB.com “Loyalty” Definition Performance Highlights: Owners Home Page Banners Category Tablet Sponsorship

Here’s how we define shopper loyalty… 42

Owners Home Page performs strongly for Chevy Leaderboard CTR 0.42% (Benchmark 0.33%) MREC CTR 0.15% (Benchmark 0.13%) Key Competitors: Ford, Honda, Hyundai, Nissan, Ram, Toyota (from account plan) Source: DFP Benchmark: Chevrolet’s key competitors in 2015

Get your brand and models noticed within a crowded and competitive segment +494% Lift Note: All images used are for illustrative purposes only and do not reflect performance displayed brand.

+53% Lift in Pricing Section Exposure Category Sponsorship drives lifts in purchase consideration, pricing information views +53% Lift in Pricing Section Exposure Note: All images used are for illustrative purposes only and do not reflect performance displayed brand.

Great Conquest Tool: 95% Of Ghost Compare impressions served on competitors pages BENCHMARK 0.19% CTR Source: DoubleClick Date Range: Oct ’14-Jan ‘15 Benchmark: Other Tablet Ghost Compare Category Sponsorships Note: All images used are for illustrative purposes only and do not reflect performance displayed brand.

Interstitial Overlay is the highest performing ad across all units on KBB.com BENCHMARK 2.45% CTR For comparison, the average U.S. tablet ad CTR is 0.59% (source: http://www.mediapost.com) the average tablet ad CTR of .59% (source: http://www.mediapost.com/publications/article/233275/tablet-app-and-rich-media-ads-show-much-stronger.html) Source: DoubleClick Date Range: Sponsored Oct ’14-Jan ‘15 Benchmark: Other 2014 Tablet Interstitials *Note: Not actual Interstitial or landing page 47| Note: All images used are for illustrative purposes only and do not reflect performance displayed brand.

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