UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                            Washington, DC 20549-1004
                                    FORM 11-K


 X  ANNUAL REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES EXCHANGE
----ACT OF 1934


For the year ended December 31, 2007
                   -----------------


                  OR


    TRANSITION REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES EXCHANGE
----ACT OF 1934



For the transition period from               to
                               -------------     -----------------



Commission file number 2-88284
                       -------





                    THE GENERAL MOTORS PERSONAL SAVINGS PLAN
                 FOR HOURLY-RATE EMPLOYEES IN THE UNITED STATES
                ------------------------------------------------
                            (Full title of the plan)



                           General Motors Corporation
              300 Renaissance Center, Detroit, Michigan 48265-3000
             ------------------------------------------------------
               (Name of issuer of the securities held pursuant to
                    the plan and the address of its principal
                               executive offices)



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



          Notices and communications from the
          Securities and Exchange Commission
          relative to this report should be
          forwarded to:



                                      Nick S. Cyprus
                                      Controller and Chief Accounting Officer
                                      General Motors Corporation
                                      300 Renaissance Center
                                      Detroit, Michigan  48265-3000


                                        1







FINANCIAL STATEMENTS AND EXHIBIT
--------------------------------
(a) FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULE                Page No.
--------------------------------------------------                --------

   The General Motors Personal Savings Plan for
     Hourly-Rate Employees in the United States:
      Report of Independent Registered Public Accounting Firm          3
      Statements of Assets Available for Benefits as of
        December 31, 2007 and 2006                                     4
      Statement of Changes in Assets Available for
        Benefits for the Year Ended December 31, 2007                  5
      Notes to Financial Statements                                    6
      Supplemental Schedule, Form 5500 Schedule H, Part IV,
        Line 4i - Schedule of Assets (Held at End of Year)
        as of December 31, 2007                                       15

All other schedules required by Section 2520.103-10 of the Department of Labor's
Rules and Regulations for Reporting and Disclosure under the Employee Retirement
Income Security Act of 1974 have been omitted because they are not applicable.


(b) EXHIBIT
    -------

   Exhibit 23 - Consent of Independent Registered Public Accounting Firm





                                    SIGNATURE

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



                                              The General Motors Personal
                                              Savings Plan for Hourly-Rate
                                              Employees in the United States
                                              ------------------------------
                                                      (Name of Plan)


Date     June 26, 2008                  By:
         ------------


                                              /s/G. Richard Wagoner, Jr.
                                              ---------------------------------
                                              (G. Richard Wagoner, Jr. Chairman
                                              of the Board of Directors)












                                        2




REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Plan Administrator of
The General Motors Personal Savings Plan
for Hourly-Rate Employees in the United States:

We have audited the accompanying statements of assets available for benefits of
The General Motors Personal Savings Plan for Hourly-Rate Employees in the United
States (the "Plan") as of December 31, 2007 and 2006, and the related statement
of changes in assets available for benefits for the year ended December 31,
2007. These financial statements are the responsibility of the Plan's
management. Our responsibility is to express an opinion on these financial
statements based on our audits.

We conducted our audits in accordance with standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. The Plan is not required to have,
nor were we engaged to perform, an audit of its internal control over financial
reporting. Our audits included consideration of internal control over financial
reporting as a basis for designing audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Plan's internal control over financial reporting.
Accordingly, we express no such opinion. An audit also includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements, assessing the accounting principles used and significant estimates
made by management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our
opinion.

In our opinion, such financial statements present fairly, in all material
respects, the assets available for benefits of the Plan as of December 31, 2007
and 2006, and the changes in assets available for benefits for the year ended
December 31, 2007 in conformity with accounting principles generally accepted in
the United States of America.

Our audits were conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedule of assets (held
at end of year) as of December 31, 2007, is presented for the purpose of
additional analysis and is not a required part of the basic financial
statements, but is supplementary information required by the Department of
Labor's Rules and Regulations for Reporting and Disclosure under the Employee
Retirement Income Security Act of 1974. The supplemental schedule is the
responsibility of the Plan's management. Such supplemental schedule has been
subjected to the auditing procedures applied in our audit of the basic 2007
financial statements and, in our opinion, is fairly stated in all material
respects when considered in relation to the basic financial statements taken as
a whole.


/s/ DELOITTE & TOUCHE LLP
-------------------------
Deloitte & Touche LLP


Detroit, Michigan
June 25, 2008













                                        3






                    THE GENERAL MOTORS PERSONAL SAVINGS PLAN
                 FOR HOURLY-RATE EMPLOYEES IN THE UNITED STATES

                   STATEMENTS OF ASSETS AVAILABLE FOR BENEFITS
                        AS OF DECEMBER 31, 2007 AND 2006


                                          2007            2006
                                        -------          -------
                                         (dollars in thousands)

ASSETS:

Investment in General Motors Savings
  Plans Master Trust (Note 4):
  Investments, at fair value          $8,214,311       $8,694,025
  Loans                                  366,451          394,893

Employee contribution receivable               -            4,526
                                       ---------        ---------

ASSETS AVAILABLE FOR BENEFITS
AT FAIR VALUE                          8,580,762        9,093,444
                                       ---------        ---------
Adjustment from fair value to
contract value for interest in
common collective trusts relating
to fully benefit-responsive
investment contracts                     110,444         (19,441)
                                       ---------        ---------

ASSETS AVAILABLE FOR BENEFITS         $8,691,206       $9,074,003
                                       =========        =========





Reference should be made to the Notes to Financial Statements.












                                        4





                    THE GENERAL MOTORS PERSONAL SAVINGS PLAN
                 FOR HOURLY-RATE EMPLOYEES IN THE UNITED STATES

              STATEMENT OF CHANGES IN ASSETS AVAILABLE FOR BENEFITS
           FOR THE YEAR ENDED DECEMBER 31, 2007 (dollars in thousands)


ADDITIONS:

  Net investment gain from General
   Motors Savings Plans Master
   Trust (Note 4)                             $593,246

  Employer contributions                         2,613
  Employee contributions                       333,054
                                             ---------

  Total additions                              928,913

NET TRANSFERS IN (Note 5)                       11,398


DEDUCTIONS-

  Distributions to participants             (1,273,418)

TRANSFERS OUT (Note 5)                         (49,690)
                                             ---------

NET DECREASE                                  (382,797)

ASSETS AVAILABLE FOR BENEFITS:
  Beginning of year                          9,074,003
                                             ---------

  End of year                               $8,691,206
                                             =========



Reference should be made to the Notes to Financial Statements.












                                        5





                    THE GENERAL MOTORS PERSONAL SAVINGS PLAN
                 FOR HOURLY-RATE EMPLOYEES IN THE UNITED STATES
                          NOTES TO FINANCIAL STATEMENTS
                      AS OF DECEMBER 31, 2007 AND 2006 AND
                      FOR THE YEAR ENDED DECEMBER 31, 2007

1. THE PLAN

  Following is a brief description of the Plan that is provided for general
  informational purposes only. Participants should refer to the Plan document
  and prospectus for a complete description of the Plan's provisions.

  GENERAL - General Motors Corporation (the "Corporation" or "GM") and certain
  unions have established The General Motors Personal Savings Plan ("PSP") for
  Hourly-Rate Employees in the United States (the "Plan"), a defined
  contribution plan. Generally, eligible hourly-rate full-time and part-time
  employees may participate and accumulate savings under the Plan on the first
  day of the first pay period following the attainment of seniority, as defined
  in the Plan. Except for purposes of investment of Plan assets, until June 30,
  2006 the Investment Funds Committee of the Corporation's Board of Directors
  acted as the Plan fiduciary and, along with various officers, employees, and
  committees, with authority delegated from the Plan fiduciary, controlled and
  managed the non-investment operation and administration of the Plan subject to
  the provisions of the Employee Retirement Income Security Act of 1974, as
  amended (ERISA). Effective June 30, 2006, State Street Bank and Trust Company
  serves as the independent fiduciary and investment manager of the Plan for the
  GM $1-2/3 Par Value Common Stock Fund. General Motors Investment Management
  Corporation ("GMIMCO") is the named fiduciary of the Plan for purposes of
  investment of Plan assets, with the exception (commencing on June 30, 2006) of
  the GM $1-2/3 Par Value Common Stock Fund. This Plan is subject to the
  provisions of ERISA.

  EMPLOYER CONTRIBUTIONS - On September 26, 2007 General Motors Corporation
  ("GM") and the International Union, United Automobile, Aerospace and
  Agricultural Workers of America (the "UAW") entered into a Memorandum of
  Understanding - UAW-GM Entry Level Wage & Benefit Agreement (the "MOU") that
  was negotiated in conjunction with the negotiation by GM and the UAW of a new
  national collective bargaining agreement governing the wages, hours, and terms
  and conditions of employment for UAW-represented employees ("2007 National
  Agreement"). Under the terms of the MOU the parties agreed to provide a PSP
  Corporation Contribution to certain employees hired on an after October 15,
  2007, once seniority is attained. As such, GM automatically contributes to
  each eligible employee's PSP account each pay period an amount equal to $1 per
  hour for each eligible weekly-straight time hour worked, including hours
  compensated for certain eligible time not worked ("Corporation contribution").
  PSP Corporation contributions will be credited to an eligible employee's
  account, regardless if the employee contributes to the Plan. The Corporation
  contribution shall be invested in the current investment options as designated
  by the employee. If the employee has not made an investment option election,
  such employer contributions shall be invested in the Pyramis Strategic
  Balanced Commingled Pool investment option.

  PARTICIPANT CONTRIBUTIONS - An eligible participant employed by the
  Corporation ("an Eligible Employee" or "employee") may elect to contribute to
  the Plan as follows in accordance with provisions and within the applicable
  Federal limits.

   o  On a pre-tax basis ("Deferred Savings"), an amount of Eligible Earnings
      which is the lesser of (1)$15,500 for 2007 or (2) up to 60% for 2007 of
      the Employee's Eligible Earnings for a calendar year.

   o  On an after-tax basis  ("After-Tax  Savings"),  up to 60% for 2007 of an
      Employee's Eligible Earnings as defined in the Plan.







                                        6



                    THE GENERAL MOTORS PERSONAL SAVINGS PLAN
                 FOR HOURLY-RATE EMPLOYEES IN THE UNITED STATES
                    NOTES TO FINANCIAL STATEMENTS - Continued

   o  Eligible  Employees  have the  opportunity  to  participate  in the Roth
      Savings feature on an after-tax basis. Participants may contribute up to
      60% of an Employee's Eligible Earnings as defined in the Plan. Roth
      Savings contributions are combined with Deferred Savings for purposes of
      applying the $15,500 contribution limit for 2007.

   o  In lieu of receiving a distribution from The General Motors Profit Sharing
      Plan for Hourly-Rate Employees in the United States, an Employee may elect
      to have the Corporation contribute profit sharing payments, as Deferred
      Savings to the extent permissible under tax law, up to 100%, in 1%
      increments, of any such amount, which vests immediately.

   o  In lieu of receiving a Suggestion Award Payment from the Corporation, an
      Employee may elect to have the Corporation contribute up to 100%, in 1%
      increments, of their Suggestion Award Payment as Deferred Savings and/or
      After-Tax Savings to the extent permissible under tax law.

   o  An Employee age 50 or older, or who will attain age 50 by the end of the
      calendar year, is eligible to make catch-up contributions to his or her
      account. A catch-up contribution may be made on a "pre-tax" or "Roth
      after-tax basis up to the annual limit ($5,000 in 2007) set forth by the
      Internal Revenue Service (the "IRS"), and only after a tax law limit has
      been reached, such as the 401(k) annual contribution limit ($15,500 in
      2007).

  An Employee's contributions will be invested at the Employee's direction, in
  10% increments, in any of the Plan's investment options. As such,
  Participants are permitted to self-direct 100% of Employee contributions in
  any of the Plan's investment options.

  An Employee also may elect to combine the contribution methods disclosed
  above (pre-tax, after-tax and Roth after-tax contributions), provided that
  the sum of these contributions does not total more than 60% of Eligible
  Earnings for any calendar year. The sum of the above described methods of
  contributions are considered "employee contributions". Employee contributions
  may only exceed 60% of Eligible Earnings by an amount equal to any
  combination of (1) the payout under the Profit Sharing Plan, (2) the
  Suggestion Award Payment, and (3) the catch-up contributions.

  VESTING - Assets derived from employee contributions vest immediately upon
  allocation to the employee's account.

  FUND EXCHANGES - Subject to the excessive trading policy, participants may
  generally exchange funds between investment options on any business day on
  which the New York Stock Exchange is open ("Business Day"). The excessive
  trading policy includes a monitoring process limit of one roundtrip
  transaction per fund within any rolling 90-day period, subject to an overall
  limit of four round-trip transactions across all funds in the Plan over a
  rolling 12 month period. A roundtrip transaction occurs when an exchange into
  and out of a fund option within a 30 day period is executed. Systematic
  contributions and withdrawals (i.e. regular payroll deductions, loan
  payments, hardship withdrawals) are permitted under the Plan and do not count
  as exchanges under the excessive trading policy.

  REDEMPTION FEES - From time to time, certain funds within the Plan may impose
  a redemption fee if an investment is held for less than a stated period. If
  applicable, these fees are disclosed in the individual mutual fund
  prospectuses as well as the Plan prospectus which contains additional
  information about each fund. The redemption fees are paid to the respective
  funds and help protect the funds' shareholders by discouraging frequent
  trading in response to or in anticipation of short-term market fluctuations.






                                       7



                    THE GENERAL MOTORS PERSONAL SAVINGS PLAN
                 FOR HOURLY-RATE EMPLOYEES IN THE UNITED STATES
                    NOTES TO FINANCIAL STATEMENTS - Continued

  PARTICIPANT LOANS - Participants may borrow once per year from their vested
  pre-tax Deferred Savings, after-tax Roth Savings and after-tax Savings. The
  amount and terms of the loans are limited under the Plan. The loan interest
  rate will be established once each quarter at a rate equal to the prime
  lending rate as of the previous quarter-end published by the Wall Street
  Journal and will apply to all new loans issued during the quarter. Loan
  repayments are generally made through after-tax payroll deductions and are
  invested in the same investment options that the participant currently
  selects for their savings contributions. Interest paid on a Plan loan is
  credited back to the borrowing employee's account in the Plan. Partial and
  total prepayment of loans is permitted at any time, without penalty. Loans
  not repaid within the loan term are deemed to be distributions from
  participant's accounts. The outstanding balances of participant loans amount
  to $366 million and $395 million as of December 31, 2007 and 2006,
  respectively.

  PARTICIPANT WITHDRAWALS - Participants may withdraw Deferred Savings in
  their accounts at any time after attaining age 59-1/2. Prior to age 59-1/2,
  After-Tax Savings may be withdrawn at any time however; Deferred Savings may
  only be withdrawn because of severance from employment, death, total and
  permanent disability, or financial hardship. Prior to receiving a withdrawal
  for financial hardship, a participant previously must have taken all
  available asset distributions, withdrawals, and loans under all applicable
  plans maintained by the Corporation. The amount that may be withdrawn for a
  financial hardship is limited as defined in the Plan. The reason for a
  hardship distribution must conform to conditions required by the IRS.
  Effective January 1, 2006, a participant who receives a hardship withdrawal
  shall have his or her contributions to the Plan suspended for 6 months
  following the withdrawal. PSP employer contributions may only be withdrawn
  following separation from GM employment.

  PAYMENT OF BENEFITS - Upon severance from employment, a participant may elect
  to leave his or her assets in the plan or take a distribution in accordance
  with Plan provisions equal to the value of the participant's vested assets in
  his or her account.

  PLAN ADMINISTRATION - The Corporation pays certain costs of Plan
  administration.

  INVESTMENT OPTIONS - An Employee's contributions will be invested at the
  Employee's direction, in 10% increments, in any of the investment options
  available in the Plan.

  Effective March 30, 2007, the following four common stock funds were removed
  as investment options from the Plan. Any assets in these restricted funds as
  of March 30, 2007 were transferred automatically to the Promark Income Fund.

      o  DIRECTV Group Common Stock Fund
      o  News Corporation Non-Voting Common Stock Fund
      o  Electronic Data Systems Corporation Common Stock Fund
      o  Raytheon Company Common Stock Fund

  Effective after the close of business on June 29, 2007, the following changes
  were made to the Plan:
      o  Certain investment options that were currently available in the Plan
         were removed (old investment option).
      o  Certain new investment options were added (new investment option).
      o  The investment options that were removed are no longer available for
         participant contributions, loan repayments or exchanges.







                                        8



                    THE GENERAL MOTORS PERSONAL SAVINGS PLAN
                 FOR HOURLY-RATE EMPLOYEES IN THE UNITED STATES
                    NOTES TO FINANCIAL STATEMENTS - Continued

      o  Participants with account balances that were in the old investment
         options (including contributions and loan repayments), were
         transferred to new investment options, subject to the next sentence.
      o  Participants with account balances in the old investment options
         that were removed but subject to short-term trading (redemption)
         fees were transferred to other available investment options after
         the relevant holding period expired.
      o  The Pyramis Strategic Balanced Commingled Pool investment option
         became the default option for certain contributions and loan
         repayments for participants who have not designated other available
         investment options for those amounts.

  DESCRIPTION OF THE COMPANY STOCK FUND:

  GM $1-2/3 Par Value Common Stock Fund - Under this investment option, the
  Trustee invests contributions primarily in General Motors Corporation's
  common stock. Each unit represents a proportionate interest in all of the
  assets of the GM $1-2/3 Par Value Common Stock Fund. The number of units
  credited to each participant's account within an applicable plan will be
  determined by the amount of the participant's contributions and the purchase
  price of a unit in the GM $1-2/3 Par Value Common Stock Fund. The value of
  each participant's account is determined each Business Day by the number of
  units to the participant's credit, multiplied by the current unit value. The
  return on a participant's investment is based on the value of units, which,
  in turn, is determined by the market price of General Motors Corporation's
  common stock, the amount of any dividends paid thereon, and by interest
  earned on short-term investments held by each fund.

  Each participant directs the Trustee how to vote common stock shares
  allocated to his or her account. To the extent consistent with applicable
  law, the Trustee will not exercise voting rights with respect to those shares
  for which direction has not been received by the required deadline.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  The significant accounting policies followed in the preparation of the
  accompanying financial statements are as follows:

  BASIS OF ACCOUNTING - The financial statements of the Plan are prepared in
  accordance with accounting principles generally accepted in the United States
  of America.

  USE OF ESTIMATES - The preparation of financial statements in accordance with
  accounting principles generally accepted in the United States of America
  requires management to make estimates and assumptions that affect the
  reported amounts of assets, liabilities, and changes therein, and disclosure
  of contingent assets and liabilities. Due to the inherent uncertainty
  involved in making estimates, actual results could differ from those
  estimates.

  RISKS AND UNCERTAINTIES - The Plan and master trust utilize various
  investment instruments including U.S. government securities, corporate debt
  instruments, and corporate stocks. Investment securities, in general, are
  exposed to various risks, such as interest rate, credit, and overall market
  volatility. Due to the level of risk associated with certain investment
  securities, it is reasonably possible that changes in the values of
  investment securities will occur in the near term and that such changes,
  could materially affect the amounts reported in the financial statements.

  INVESTMENT VALUATION - The Plan's investments are stated at fair value,
  except for benefit-responsive investment contracts, which are stated at
  contract value. Fair values are calculated by reference to published market
  quotations, where available; where not available for certain common
  collective trusts, various bases, including cost, are used in determining
  estimates of fair values. Contract value represents contributions and
  withdrawals made under the investment contracts plus credited earnings, which
  are net of expenses charged to synthetic contracts.




                                        9



                    THE GENERAL MOTORS PERSONAL SAVINGS PLAN
                 FOR HOURLY-RATE EMPLOYEES IN THE UNITED STATES
                    NOTES TO FINANCIAL STATEMENTS - Continued

  Security transactions are recorded on a trade-date basis. Investment income
  is recognized as earned based on the terms of the investments and the periods
  during which the investments are owned by the Plan.

  PAYMENT OF BENEFITS - Distributions to participants are recorded upon
  distribution.

3. INVESTMENTS

   All of the investments in the Plan are held in the Master Trust as more fully
   described in Note 4. All assets in the Master Trust are allocated to
   individual participant accounts.

4. THE MASTER TRUST

  The Corporation established the Master Trust pursuant to a trust agreement
  between the Corporation and State Street Bank and Trust, as trustee of the
  Plan assets, in order to permit the commingling of trust assets of multiple
  employee benefit plans for investment and administrative purposes. The assets
  of the Master Trust are held by State Street Bank and Trust.

  Employee benefit plans participating in the Master Trust as of December 31,
  2007 consist of the following:

      o  General Motors Savings-Stock Purchase Program for Salaried Employees
         in the United States
      o  The General Motors Personal Savings Plan for Hourly-Rate Employees
         in the United States
      o  The General Motors Income Security Plan for Hourly-Rate Employees

  Each participating employee benefit plan has an undivided interest in the net
  assets and changes therein of each of the Master Trust investment options in
  which the respective plan participates.

  The net investment income of the commingled Master Trust investment funds is
  allocated by the trustee to each participating plan based on that plan's
  interest in each commingled Master Trust investment fund, as compared with
  the total interest of all the participating plans, in each commingled Master
  Trust investment fund at the beginning of the month. For all other investment
  options, the net investment income is separately earned by the respective
  employee benefit plan, and is thus recorded separately in the accounting
  records of the respective plan.











                                       10



                    THE GENERAL MOTORS PERSONAL SAVINGS PLAN
                 FOR HOURLY-RATE EMPLOYEES IN THE UNITED STATES
                    NOTES TO FINANCIAL STATEMENTS - Continued


  As of December 31, 2007 and 2006, the Plan had approximately a 42.3% and
  42.8% interest in the Master Trust, respectively.

  The net assets available for benefits of the Master Trust at December 31,
  2007 and 2006 are summarized as follows (dollars in thousands):

   ASSETS:                                              2007        2006
                                                      -------      -------
     Investments at fair value:
      General Motors Corporation $1-2/3 Par
      Value Common Stock                            $1,459,558   $1,915,259
      Other common stock                                     -      383,045
                                                    ----------   ----------
        Total common stock                           1,459,558    2,298,304

      Promark Income Fund                            6,601,826    6,636,266
      Promark Large Cap Index                                -    1,652,398
      State Street Global Advisors Large Cap Index   1,634,057            -
      Other common collective trusts                 3,068,862    1,813,938
                                                    ----------   ----------
        Total common collective trusts              11,304,745   10,102,602

      Mutual funds                                   6,970,683    8,240,383

      Loan funds                                       566,613      605,630
                                                    ----------   ----------
     Total investments at fair value                20,301,599   21,246,919

     Receivables - accrued investment income                 -            4
                                                    ----------   ----------

        Total assets                               $20,301,599  $21,246,923
                                                    ==========   ==========
   LIABILITIES-

     Due to broker for securities purchased                  -        2,855
                                                    ----------   ----------
   NET ASSETS AVAILABLE FOR BENEFITS
   AT FAIR VALUE                                   $20,301,599  $21,244,068
                                                    ==========   ==========

   Adjustment from fair value to contract value for
   interest in common collective trusts relating
   to fully benefit-responsive investment contracts    227,376      (38,521)
                                                    ----------   ----------

   NET ASSETS AVAILABLE FOR BENEFITS               $20,528,975  $21,205,547
                                                    ==========   ==========






                                       11



                    THE GENERAL MOTORS PERSONAL SAVINGS PLAN
                 FOR HOURLY-RATE EMPLOYEES IN THE UNITED STATES
                    NOTES TO FINANCIAL STATEMENTS - Continued

The net investment gain of the Master Trust for the year ended December 31, 2007
is summarized as follows (dollars in thousands):

Interest and dividends                                $598,828
Net appreciation (depreciation) in fair value of
investments:
  General Motors Corporation $1-2/3 Par Value
  Common Stock                                        (269,089)
  Other common stock                                   (13,989)
  Mutual funds                                         486,809
  Common collective trusts:
   Promark Income Fund                                 371,096
   Promark Large Cap Index                             110,629
   State Street Global Advisors Large Cap Index        (22,333)
   Other common collective trusts                      112,687
                                                    ----------
   Total net appreciation                              775,810
                                                    ----------
  Total net investment gain                         $1,374,638
                                                    ==========

5. TRANSFERS

  On April 12, 1999, the GM Board of Directors approved the complete separation
  of Delphi by means of a spin-off, which was completed on May 28, 1999. Prior
  to the spin-off, GM established the Delphi Personal Savings Plan (the "Delphi
  Plan"), modeled after the GM Plan. On May 28, 1999, for those employees who
  elected to do so, assets representing Delphi participants' holdings in the
  Plan were transferred and reinvested under the corresponding investment
  options in the Delphi Plan. As a result of the separation, the Delphi Plan
  was separated from the Plan, and is now administered by Delphi as a separate
  plan. On a very limited basis, participants may elect to transfer their
  holdings between the Delphi and GM Plans. The amount of the transfers from
  the Delphi Plan to the Plan were $16 million and are recorded as transfers
  in, in the statement of changes in assets available for benefits.

  Effective August 7, 2007, GM sold Allison Transmission ("Allison"), a
  commercial and military equipment business to The Carlyle Group and Onex
  Corporation ("Purchasers"). In connection with the sale, Purchasers
  established the Allison Transmission Hourly Employee Retirement Savings Plan,
  a defined contribution plan (the "Allison Plan"). The transaction resulted in
  a voluntary elective transfer of account balances into the Allison Plan. For
  those participants that did not elect the voluntary elective transfer, their
  account balances remained in the Plan. The amount of the voluntary elective
  transfer totaled approximately $49.7 million and is recorded in transfers out
  in the statement of changes in assets available for benefits.

6. TERMINATION

  Although it has not expressed any intent to do so, the Corporation has the
  right to terminate the Plan subject to the provisions of ERISA. Such Plan
  termination, if any, would not affect a participant's interest in assets
  already in the Plan.

7. FEDERAL INCOME TAX STATUS

  By letter dated August 15, 2005, the IRS has determined and informed the
  Corporation that the Plan is a tax-qualified employee benefit plan, meeting
  the requirements of Sections 401(a) and 401(k) and 4975(e) (7) of the
  Internal Revenue Code of 1986, as amended (the "Code"), and the Trust
  established there under was determined to be exempt from United States
  Federal income taxes under Section 501(a) of the Code. The Plan's management,
  fiduciary, and tax counsel believe that the Plan is designed and currently
  being operated in compliance with the applicable requirements of the Code,
  and therefore no provision for income taxes has been included in the Plan's
  financial statements.




                                       12



                    THE GENERAL MOTORS PERSONAL SAVINGS PLAN
                 FOR HOURLY-RATE EMPLOYEES IN THE UNITED STATES
                    NOTES TO FINANCIAL STATEMENTS - Continued



8. RELATED PARTY TRANSACTIONS

  The Plan and Master Trust enter into certain related party transactions.
  These generally include investments with trustees, fund managers, the
  Corporation and its subsidiaries. Such transactions are within the scope of
  the investment guidelines.

9. RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500

The following is a reconciliation of net assets available for benefits per
financial statements to the Form 5500 (dollars in thousands):

                                               December 31,    December 31,
                                                  2007             2006
                                               -----------     ------------

  Assets available for benefits per the
  financial statements                         $8,691,206       $9,074,003

  (Less) Add: Adjustment from contract value
  to fair value for interest in common
  collective trusts relating to fully
  benefit-responsive investment contracts        (110,444)          19,441
                                                ---------        ---------
  Assets available for benefits per the
  Form 5500                                    $8,580,762       $9,093,444
                                                =========        ========

The following is a reconciliation of total net investment gain from the General
Motors Savings Plan Master Trust per the financial statement to the Form 5500
(dollars in thousands):

                                                               December 31,
                                                                   2007
                                                               ------------

   Total net investment gain from the General Motors
   Savings Plan Master Trust per the financial statement          $593,246

   Less:  Adjustment from contract value to fair value for
   fully benefit-responsive investment contracts as of
   December 31, 2007                                              (110,444)

   Less:  Adjustment from contract value to fair value for
   fully benefit-responsive investment contracts as of
   December 31, 2006                                               (19,441)
                                                                 ---------
   Total investment gain per the Form 5500                        $463,361
                                                                 =========

10. SUBSEQUENT EVENTS

As a result of the 2007 National Agreement, the Plan was amended as follows:

      o  Effective January 1, 2008, GM Benefit Plans Administration Committee
         became the Plan's named fiduciary for general administration.

      o  Effective January 1, 2008, the Ariel Fund was added to the Investment
         Fund Line-Up.

      o  Effective January 1, 2008, the default investment option was changed
         from the Pyramis Strategic Balanced Commingled Pool investment option
         to the Pyramis Active Lifecycle Commingled Pool investment options.


                                       13



                    THE GENERAL MOTORS PERSONAL SAVINGS PLAN
                 FOR HOURLY-RATE EMPLOYEES IN THE UNITED STATES
                    NOTES TO FINANCIAL STATEMENTS - Continued

      o  Effective January 1, 2008, the Neuberger Berman Socially Responsive
         Fund Investor Class was replaced with a new Neuberger Berman Socially
         Responsive Fund Institutional Class. This new Class provides the same
         investment portfolio with a lower expense ratio.

      o  Effective January 1, 2008, an automatic distribution of a participant's
         entire account balance will occur, on a quarterly basis, for retired
         and terminated participants who have an account balance of $1,000 or
         less.

      o  In February 2008, GM and the UAW, and GM and the International Union
         Electrical Workers - Communication Workers of America ("IUE-CWA"),
         reached separately, identical agreements on a comprehensive special
         attrition program ("SAP") that was offered to all of GM's UAW-
         represented and IUE-CWA represented participants. The SAP offers
         participants a choice of several pension and buyout incentives
         consisting of $45,000 for production participants or $62,500 for
         skilled trades, and mutually satisfactory retirements, which are to be
         paid out of the General Motors Hourly-Rate Employees Pension Plan.
         Participants have the option of crediting all or designated portions
         of these incentives to their accounts in the Plan.

      o  In September 2006, FASB issued Statement of Financial Accounting
         Standards (SFAS) No. 157, "Fair Value Measurements" (SFAS No. 157),
         which provides a consistent definition of fair value that focuses on
         exit price and prioritizes, within a measurement of fair value, the
         use of market-based inputs over entity-specific inputs. SFAS No. 157
         requires expanded disclosures about fair value measurements and
         establishes a three-level hierarchy for fair value measurements based
         on the observability of inputs to the valuation of an asset or
         liability as of the measurement date. The standard also requires that
         an entity consider its own nonperformance risk when measuring
         liabilities carried at fair value, including derivatives. In February
         2008, the Financial Accounting Standard Board (FASB) approved
         FASB Staff Position No. 157-2, "Effective Date of FASB Statement No.
         157" (FSP No. 157-2), that permits entities to partially defer the
         effective date of SFAS No. 157 for one year for nonfinancial assets and
         nonfinancial liabilities that are recognized or disclosed at fair value
         in the financial statements on a nonrecurring basis. FSP No. 157-2 does
         not permit entities to defer recognition and disclosure requirements
         for financial assets and financial liabilities or for nonfinancial
         assets and nonfinancial liabilities that are remeasured at least
         annually. SFAS No. 157 is effective for financial assets and financial
         liabilities and for nonfinancial assets and nonfinancial liabilities
         that are remeasured at least annually for fiscal years beginning after
         November 15, 2007 and interim periods within those fiscal years. The
         provisions of SFAS No. 157 are applied prospectively. The Plan is
         unable to determine the impact that adopting SFAS No. 157 will have on
         its statement of assets available for benefits and statement of changes
         in assets available for benefits when such statement is adopted.










                                       14




                    THE GENERAL MOTORS PERSONAL SAVINGS PLAN
                 FOR HOURLY-RATE EMPLOYEES IN THE UNITED STATES

           Form 5500, SCHEDULE H, Part IV, Line 4i- Schedule of Assets
                              (Held at End of Year)
                 as of DECEMBER 31, 2007 (dollars in thousands)


  Identity of Issuer, Borrower, Lessor or Similar Party       Current Value


  * Participant loans, maturing through
    December 25, 2017 with rates ranging
    from 4.0% to 9.5%                                             $366,451
                                                                  ========



* Denotes parties-in-interest




















                                       15