Washington, D.C. 20549-1004

                                    FORM 8-K
                       THE SECURITIES EXCHANGE ACT OF 1934

                                 Date of Report
              (Date of earliest event reported) February 22, 2001

                           GENERAL MOTORS CORPORATION
             (Exact name of registrant as specified in its charter)

      STATE OF DELAWARE                 1-143                 38-0572515
----------------------------   -----------------------    -------------------
(State or other jurisdiction   (Commission File Number)   (I.R.S. Employer
 of incorporation)                                        Identification No.)

   300 Renaissance Center, Detroit, Michigan                 48265-3000
--------------------------------------------                 ----------
  (Address of principal executive offices)                   (Zip Code)

Registrant's telephone number, including area code       (313)-556-5000

                                      - 1 -


      On February  22,  2001,  General  Motors  Corporation  (GM) issued a press
release  outlining  their  financial  objectives  for 2001.  The  release  is as


   DETROIT - General  Motors  Corporation  will  outline  the next  steps in its
continued drive to strengthen the company's  competitiveness,  improve operating
results,  and  deliver  value  consistently  to its  shareholders  at its annual
conference  for  securities  analysts  and  institutional  investors  today  and

   GM President and Chief  Executive  Office Rick Wagoner will state,  "Our plan
for General Motors is clear -- innovative  products and services,  leadership in
e-business,  grow our business in emerging  markets  such as Asia,  and generate
excellent  business  results.  We are accelerating our progress toward achieving
these with a disciplined approach."

   In addition to  confirming  its earlier  forecast and goal of total  calendar
year  earnings of $4.25 and  confirming  analysts'  consensus  for first quarter
earnings per share of approximately $0.25, Wagoner will say GM's financial goals
for the year 2001 include:

      - Positive cash flow
      - Earn $2 billion or more in North America
      - Substantially improve results at GM Europe over second half 2000 results
      - Grow  profitability  in the Latin  America-Africa-Middle  East  region
      - Achieve  profitability  in the Asia Pacific  region
      - Continued net income growth at GMAC

   GM  officials  will also  outline a plan to  improve  performance  in Europe,
focusing on the four key areas of product, quality, cost, and continued progress
on leveraging the benefits of GM's alliance with Fiat.

   The management team of GM's affiliate, Isuzu, is implementing a comprehensive
recovery plan designed to restore  profitability  over the medium term. GM has a
49 percent equity interest in Isuzu.

   In North America,  GM intends to grow revenue through its aggressive  product
plan,  and  reduce  costs  through  convergence  of the  car and  truck  groups,
productivity improvements, and the supplier cost-sharing program.

   GM Vice  Chairman  and Chief  Financial  Officer  John Devine will  outline a
series of financial priorities for the year 2001.

   "We have to continue to strengthen our balance sheet,  improve earnings,  and
focus on a few key major  initiatives,"  Devine  said.  "Simply put, the keys to
creating value for GM shareholders are to use capital  efficiently,  and deliver
increasing and consistent earnings and cash flow."

                                      - 2 -

In this press release and related comments by General Motors management, our use
of  the  words  "expect,"  "anticipate,"  "estimate,"  "forecast,"  "objective,"
"plan," "goal" and similar  expressions is intended to identify  forward looking
statements.  While these  statements  represent our current judgment on what the
future may hold, and we believe these judgments are  reasonable,  actual results
may differ  materially due to numerous  important  factors that are described in
GM's most recent report on SEC Form 10-K (at page II-20) which may be revised or
supplemented  in  subsequent  reports  on SEC Forms 10-Q and 8-K.  Such  factors
include, among others, the following:  changes in economic conditions,  currency
exchange rates or political stability;  shortages of fuel, labor strikes or work
stoppages;  market  acceptance of the  corporation's  new products;  significant
changes in the  competitive  environment;  changes in laws,  regulations and tax
rates;  and, the ability of the  corporation  to achieve  reductions in cost and
employment  levels to realize  production  efficiencies  and  implement  capital
expenditures at levels and times planned by management.

                                      # # #


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                          GENERAL MOTORS CORPORATION
Date    February 23, 2001
                                          s/Peter R. Bible
                                          (Peter R. Bible,
                                           Chief Accounting Officer)

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