SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C. 20549-1004





                                    FORM 8-K
                    CURRENT REPORT PURSUANT TO SECTION 13 OF
                       THE SECURITIES EXCHANGE ACT OF 1934



          Date of Report
(Date of earliest event reported) October 11, 2000
                                  ----------------




                         HUGHES ELECTRONICS CORPORATION
              -----------------------------------------------------
             (Exact name of registrant as specified in its charter)




      STATE OF DELAWARE               0-26035                 52-1106564
----------------------------   -----------------------    -------------------
(State or other jurisdiction        (Commission            (I.R.S. Employer
 of incorporation or organization)   File Number)         Identification No.)




                          200 North Sepulveda Boulevard
                          El Segundo, California 90245
                         -------------------------------
                                 (310) 662-9688
                                ----------------
               (Address, including zip code, and telephone number,
        including area code, of registrants' principal executive office)

























                                      - 1 -


ITEM 5. OTHER EVENTS

      On October  11,  2000,  a news  release was issued on the subject of third
quarter consolidated earnings by Hughes Electronics  Corporation  (Hughes).  The
news release did not include certain financial statements, related footnotes and
certain other financial  information  that will be filed with the Securities and
Exchange  Commission  as part of  Hughes'  Quarterly  Report on Form  10-Q.  The
release is as follows:

                    HUGHES REPORTS THIRD QUARTER 2000 FINANCIAL RESULTS

     Editor's  note:  Hughes  invites  reporters to participate in a listen-only
mode on its third  quarter 2000 analyst call at 2 p.m. EDT  Wednesday,  Oct. 11.
The dial-in number is 719-457-2622, and the confirmation code is 644450.

      El Segundo,  Calif.,  October 11, 2000 -- Hughes Electronics  Corporation,
the world's  leading  provider of digital  television  entertainment,  satellite
services and  satellite-based  private business  networks,  today reported third
quarter 2000 revenues increased 3.7% to $1,688.5 million, compared with $1,627.8
million in the third quarter of 1999.  EBITDA(1) for the quarter decreased 46.6%
to $107.9  million and EBITDA  margin(1) was 6.4%,  compared to EBITDA of $202.1
million and EBITDA  margin of 12.4% in the third  quarter of 1999.  Hughes had a
third  quarter  2000  loss(2) of $88.5  million,  compared to a loss(2) of $29.6
million in the same period for 1999.

      "Our  continued  investment  in  high-growth,   high-value  businesses  is
reflected in our reduced  earnings this quarter," said Michael T. Smith,  Hughes
chairman and chief executive  officer.  "And now that we have completed the sale
of our  satellite  manufacturing  businesses  to The  Boeing  Company,  we  have
received more than $3.0 billion in after-tax  proceeds which we will use to fuel
further growth and pay down debt."

      Smith continued,  "In the third quarter, some of our most exciting service
businesses  attained  significant  milestones.  DIRECTV(R)  had its  best  third
quarter ever for subscriber  growth in both the United States and Latin America.
We began  shipping the AOL Plus  Powered by  DirecPC(TM)  product;  we signed up
additional  distribution  partners,  including  Juno and Pegasus;  and we are on
schedule to introduce our two-way via-satellite DirecPC(TM) broadband service by
the end of the year. In addition,  PanAmSat  announced  its first  customers for
NET/36(TM), its satellite-based Internet broadcast network for content providers
seeking to deliver streaming video, audio and data to broadband customers."

                           NINE-MONTH FINANCIAL REVIEW

      For the first three quarters of 2000, revenues increased 35.4% to $5,228.6
million,  compared to $3,862.3 million in the same period last year. This growth
was  primarily the result of record  subscriber  growth at DIRECTV in the United
States  and  additional  revenues  resulting  from the United  States  Satellite
Broadcasting,  Inc. (USSB) and PRIMESTAR,  Inc. transactions,  as well as higher
outright sales and sales-type leases of transponders at PanAmSat.

      EBITDA for the first nine  months of 2000 was  $440.2  million  and EBITDA
margin was 8.4%, compared to EBITDA of $437.4 million and EBITDA margin of 11.3%
in the same  period  of 1999.  The  slight  increase  in  EBITDA  was  primarily
attributable to higher  outright sales and sales-type  leases of transponders at
PanAmSat,  offset by increased  losses in the DIRECTV  businesses  due to higher
marketing costs associated with the record  subscriber growth in both the United
States and Latin  America.  The decline in margin  resulted  from the  increased
marketing  expenses for the DIRECTV  services and the lower  margins  associated
with PanAmSat's outright sales and sales-type leases.






                                      - 2 -

      For the first  nine  months of 2000,  losses(2)  totaled  $228.9  million,
compared to losses(2) of $43.6  million in 1999.  The higher loss was  primarily
due to increased  depreciation and amortization  resulting  principally from the
mid-1999  acquisitions of USSB and PRIMESTAR,  and higher net interest  expense.
Additionally,  in the first quarter of 2000,  Hughes  booked a one-time  pre-tax
charge of $171 million (reported in "Other,  net") related to its agreement with
SkyPerfecTV!  and  the  discontinuation  of  the  DIRECTV  Japan  business.  The
after-tax  impact of this charge was a loss of $13 million,  which  includes the
tax benefits associated with the write-off of Hughes' historical  investments in
DIRECTV Japan.

                  SEGMENT FINANCIAL REVIEW: THIRD QUARTER 2000

                            Direct-To-Home Broadcast

      Third quarter revenues for the segment increased 12.8% to $1,291.5 million
from  $1,144.6  million in the third  quarter of 1999.  The segment had negative
EBITDA of $17.7  million  compared  with  EBITDA of $55.1  million  in the third
quarter of 1999.

      United  States:  DIRECTV  reported  quarterly  revenues of $1,154  million
compared  with  revenues of $1,052  million  last year.  The increase was due to
continued  strong  subscriber  growth,  partially  offset  by the  impact of the
conclusion of the PRIMESTAR By DIRECTV medium-power service, as described below.

      DIRECTV added a record 450,000 net  subscribers to its high-power  DIRECTV
service in the quarter versus 423,000 net subscribers added in the third quarter
of 1999,  and converted  about 300,000  customers  from the PRIMESTAR By DIRECTV
medium-power  service.  While gross  subscriber  additions were up significantly
compared to the third quarter of 1999, net subscriber additions were impacted by
DIRECTV's  first-ever  price  increase  and  the  conclusion  of  the  PRIMESTAR
conversion process.

      As of September 30, 2000, DIRECTV had 9.0 million subscribers. Through the
first nine months of 2000, DIRECTV grew 37% in its core urban/suburban  markets,
which exclude those markets in the National Rural Telecommunications Cooperative
(NRTC) territories.

      EBITDA for the third quarter of 2000 was $36 million compared to EBITDA of
$86 million in last year's third quarter.  This decline was  principally  due to
higher  marketing  costs and the impact  from the  completion  of the  PRIMESTAR
conversion process.

      As a result of the PRIMESTAR  conversions,  DIRECTV no longer receives the
revenues  from the  PRIMESTAR  By  DIRECTV  customers  who  either  discontinued
service, or who converted but live in NRTC territories.  DIRECTV receives only a
small percentage of revenues from customers in these territories,  thus reducing
the revenues and EBITDA  attributable  to DIRECTV in the third  quarter of 2000.
Since  its  1999  acquisition  of  PRIMESTAR,   DIRECTV  converted  a  total  of
approximately 1.5 million customers to its high-power service. DIRECTV shut down
the PRIMESTAR By DIRECTV service on September 30,  2000--six months ahead of its
original schedule.

      Latin  America:  The DIRECTV  businesses in Latin America  generated  $136
million in revenues for the quarter, up 79% over the $76 million reported in the
third  quarter of 1999.  This  increase was due to continued  strong  subscriber
growth.

      The DIRECTV  service in Latin America added 126,000 net new subscribers in
the third quarter of 2000, an 88% increase over the 67,000  acquired in the same
period last year. The total number of DIRECTV subscribers in Latin America as of
September 30, 2000 was 1,136,000.

      The DIRECTV businesses in Latin America had negative EBITDA of $50 million
compared  to negative  EBITDA of $24  million  for the same period in 1999.  The
decline was primarily due to the impact of higher marketing expenses  associated
with the record subscriber growth.

                                      - 3 -

     Japan: DIRECTV Japan's loss was $3 million for the quarter, compared with a
loss  of $20  million  in the  third  quarter  of  1999.  DIRECTV  Japan  ceased
broadcasting on September 30, 2000, and is on schedule to complete the migration
of customers to SkyPerfecTV! and the closure of the legal entity.

                               Satellite Services

      PanAmSat,  which is 81% owned by  Hughes,  generated  third  quarter  2000
revenues of $199.3  million  compared  with $210.7  million in the prior  year's
period.  The 5.4% decrease was driven primarily by a third quarter 1999 one-time
customer payment of approximately $15 million associated with the termination of
a direct-to-home video services agreement in India.

      Third quarter 2000 EBITDA for the segment was $135.5  million  compared to
$169.0 million in the third quarter 1999, a 19.8% decrease. EBITDA margin in the
third  quarter of 2000 was 68.0%,  compared to 80.2% in the same period of 1999.
The  decrease  in EBITDA and EBITDA  margin was  primarily  due to the  one-time
customer  payment  received in the third  quarter of 1999; an increase in direct
operating costs and selling, general and administrative (SG&A) costs as a result
of the company's  continued  fleet  expansion;  and investment in the new NET/36
broadband Internet initiative.

      As of September 30, 2000,  PanAmSat had  contracts for satellite  services
representing future payments (backlog) of approximately $5.8 billion compared to
approximately  $6.0 billion in the second quarter of 2000.  This includes a $350
million  reduction in backlog  resulting  from  anomalies  on the Galaxy  VIII-i
satellite.  This  reduction  would be more  than  offset by  additional  backlog
generated by the Galaxy VIII-iR  replacement  satellite that will be constructed
if PanAmSat's agreement in principal with Galaxy Latin America is finalized.

                                 Network Systems

      Hughes  Network  Systems'  (HNS's) third quarter 2000 revenues were $284.0
million,  compared to $426.2  million in the third quarter of 1999. The decrease
in revenues was  principally  due to lower sales of DIRECTV  receiver  equipment
associated  with the early  completion of the transition of PRIMESTAR By DIRECTV
subscribers to the  high-power  DIRECTV  service.  HNS shipped  470,000  DIRECTV
receiver systems in the third quarter of 2000,  compared to 730,000 units in the
same  period  last year.  The  discontinuation  of certain  narrowband  wireless
businesses, announced in January 2000, also contributed to the reduced revenues,
as did lower revenues in the mobile satellite network product line.

      In the quarter, HNS had EBITDA of $16.8 million and EBITDA margin of 5.9%,
compared  to EBITDA of $49.8  million and 11.7%  margin in the third  quarter of
1999.  The decline in EBITDA and EBITDA  margin is  attributable  to the reduced
revenues;  increased  investment in the upcoming launch of new DirecPC services,
including AOL Plus Powered by DirecPC;  and the elimination of DIRECTV equipment
subsidies from DIRECTV.  These  reductions were offset by a $21 million one-time
EBITDA gain that resulted from successful  negotiations with certain  narrowband
wireless customers for receivables previously written-off.

      New orders in the third  quarter of 2000 were $423  million,  compared  to
$295 million in the same period last year, driving backlog to approximately $1.3
billion as of September  30, 2000.  This  increase was  primarily  due to higher
sales of domestic VSAT (very small aperture  terminal) private business networks
to customers including Exxon/Mobile, CAIS Internet, Musicland and National Cable
Communications.  In  total,  these new  contracts  represent  more  than  14,000
additional  points of presence on HNS-built  networks.  Mobile satellite network
sales also contributed to the increase, and included a $150 million contract for
Inmarsat's next-generation ground infrastructure.







                                      - 4 -

                                  BALANCE SHEET

      From December 31, 1999 to September 30, 2000,  the Company's  consolidated
cash balance  decreased $59.8 million to $178.4 million and total debt increased
$949.4  million to $3,090.8  million.  The principal cash  requirements  for the
first nine months of 2000 were related to general working  capital  requirements
and capital expenditures for property, plant, equipment and satellites.

      Hughes  Electronics  Corporation is a unit of General Motors  Corporation.
The earnings of Hughes are used to calculate the earnings per share attributable
to the General Motors Class H common stock (NYSE:GMH).

      A live  webcast  of  Hughes'  third-quarter  2000  earnings  call  will be
available at the company's website at  www.hughes.com  or at www.vcall.com.  The
call will  begin at 2:00 p.m.  ET,  today.  Investors  are  advised  to allow 15
minutes  prior to the call to register  and  download  any  necessary  software.
Following  the  completion  of the call,  the  webcast  will be  archived on the
Investor Relations portion of the Hughes website for at least one week.

      NOTE: Hughes Electronics  Corporation  believes that some of the foregoing
statements may constitute forward-looking  statements. When used in this report,
the words  "estimate,"  "plan,"  "project,"  "anticipate,"  "expect,"  "intend,"
"outlook,"  "believe,"  and other similar  expressions  are intended to identify
such  forward-looking  statements and  information.  Important  factors that may
cause actual  results of Hughes to differ  materially  from the  forward-looking
statements  in this report are set forth in the Form 10-Ks filed with the SEC by
GM and Hughes.
---------------------
(1) EBITDA (Earnings Before Interest,  Taxes,  Depreciation and Amortization) is
the sum of operating  profit (loss) and depreciation  and  amortization.  EBITDA
margin is calculated by dividing EBITDA by total revenues.
(2) Equals  reported  Net Loss  excluding  the  effects of  purchase  accounting
adjustments related to General Motors' acquisition of Hughes in 1985.


                                       ###
































                                      - 5 -

STATEMENTS OF OPERATIONS AND
AVAILABLE SEPARATE CONSOLIDATED NET LOSS
(Dollars in Millions)
(Unaudited)
                                                           Nine Months Ended
                                     Third Quarter           September 30,
                                   -----------------       -----------------
                                   2000        1999        2000        1999
----------------------------------------------------------------------------
Revenues
Direct broadcast, leasing, and
  other services                $1,485.5    $1,345.0    $4,523.3    $3,147.0
Product sales                      203.0       282.8       705.3       715.3
----------------------------------------------------------------------------
Total Revenues                   1,688.5     1,627.8     5,228.6     3,862.3
----------------------------------------------------------------------------
Operating Costs and Expenses
Broadcast programming and other
  costs                            681.4       596.4     2,035.9     1,374.4
Cost of products sold              152.1       273.2       585.1       631.4
Selling, general and
  administrative expenses          747.1       556.1     2,167.4     1,419.1
Depreciation and amortization      238.3       208.8       673.1       480.1
----------------------------------------------------------------------------
Total Operating Costs and
  Expenses                       1,818.9     1,634.5     5,461.5     3,905.0
----------------------------------------------------------------------------

Operating Loss                    (130.4)       (6.7)     (232.9)      (42.7)

Interest income                      7.1         2.6        15.3        20.8
Interest expense                   (66.5)      (51.7)     (169.2)      (71.0)
Other, net                         (11.9)      (31.6)     (294.4)      (96.3)
----------------------------------------------------------------------------
Loss from Continuing Operations
   Before Income Taxes and
   Minority Interests             (201.7)      (87.4)     (681.2)     (189.2)

Income tax benefit                 (77.8)      (36.8)     (354.4)      (59.7)
Minority interests in net losses
  of subsidiaries                   19.6         8.8        31.7        22.1
-----------------------------------------------------------------------------

Loss from continuing operations   (104.3)      (41.8)     (295.1)     (107.4)

Income from discontinued
  operations, net of taxes          10.5         6.9        50.3        47.9
----------------------------------------------------------------------------

Net Loss                           (93.8)      (34.9)     (244.8)      (59.5)

Adjustments to exclude the effect
  of GM purchase accounting
  adjustments                        5.3         5.3        15.9        15.9
----------------------------------------------------------------------------

Loss Excluding the Effect of
   GM Purchase Accounting
   Adjustments                     (88.5)      (29.6)     (228.9)      (43.6)

Preferred stock dividends          (24.1)      (24.7)      (72.9)      (26.3)
-----------------------------------------------------------------------------

Loss Used for Computation of
   Available Separate
   Consolidated Net Income
   (Loss)                        $(112.6)     $(54.3)    $(301.8)     $(69.9)
=============================================================================

Available Separate Consolidated
  Net Income (Loss)
Average number of shares of
  General Motors Class H Common
  Stock outstanding (in millions)
  (Numerator)                      873.9       405.3       616.7       362.4
Average Class H dividend base
  (in millions) (Denominator)    1,297.8     1,286.7     1,296.5     1,244.1
Available Separate Consolidated
  Net Income (Loss)               $(75.8)     $(17.1)    $(143.6)     $(20.4)
=============================================================================
Certain 1999 amounts have been reclassified to conform with the 2000
presentation.

                                      - 6 -


BALANCE SHEET
(Dollars in Millions)
                                                   Sept. 30,
                                                      2000         December 31,
ASSETS                                            (Unaudited)          1999
-------------------------------------------------------------------------------
Current Assets
Cash and cash equivalents                            $178.4           $238.2
Accounts and notes receivable                       1,145.8            960.9
Contracts in process                                  130.1            155.8
Inventories                                           346.0            236.1
Net assets of discontinued operations               1,128.8          1,224.6
Deferred income taxes                                 537.8            254.3
Prepaid expenses and other                            931.4            788.1
----------------------------------------------------------------------------

Total Current Assets                                4,398.3          3,858.0
Satellites, net                                     4,229.6          3,907.3
Property, net                                       1,588.1          1,223.0
Net Investment in Sales-type Leases                   227.5            146.1
Intangible Assets, net                              7,207.7          7,406.0
Investments and Other Assets                        2,380.3          2,056.6
----------------------------------------------------------------------------

Total Assets                                      $20,031.5        $18,597.0
============================================================================

LIABILITIES AND STOCKHOLDER'S EQUITY
----------------------------------------------------------------------------
Current Liabilities
Accounts payable                                   $1,149.5         $1,062.2
Deferred revenues                                     153.6            130.5
Short-term borrowings and current portion
  of long-term debt                                 1,133.9            555.4
Accrued liabilities and other                       1,312.6            894.0
----------------------------------------------------------------------------

Total Current Liabilities                           3,749.6          2,642.1
Long-Term Debt                                      1,956.9          1,586.0
Other Liabilities and Deferred Credits              1,414.5          1,454.2
Deferred Income Taxes                                 947.2            689.1
Commitments and Contingencies
Minority Interests                                    574.3            544.3
Stockholder's Equity                               11,389.0         11,681.3
----------------------------------------------------------------------------

Total Liabilities and Stockholder's Equity        $20,031.5        $18,597.0
============================================================================

Holders of GM Class H common stock have no direct rights in the equity or assets
of Hughes,  but rather  have  rights in the equity and assets of General  Motors
(which includes 100% of the stock of Hughes).
















                                      - 7 -


SELECTED SEGMENT DATA
(Dollars in Millions)

                                                        Nine Months Ended
                                    Third Quarter         September 30,
                                --------------------    -----------------
                                  2000        1999      2000         1999
---------------------------------------------------------------------------
DIRECT-TO-HOME BROADCAST
Total Revenues                  $1,291.5    $1,144.6  $3,717.5    $2,571.4
EBITDA (1)                        $(17.7)      $55.1    $(40.9)      $46.0
EBITDA Margin (1)                    N/A         4.8%      N/A         1.8%
Operating Loss                   $(150.1)     $(60.2)  $(410.9)    $(158.2)
Depreciation and Amortization     $132.4      $115.3    $370.0      $204.2
Capital Expenditures (2)          $262.0       $97.6    $649.1      $253.4
--------------------------------------------------------------------------
SATELLITE SERVICES
Total Revenues                    $199.3      $210.7    $820.7      $604.6
EBITDA (1)                        $135.5      $169.0    $557.9      $465.9
EBITDA Margin (1)                   68.0%       80.2%     68.0%       77.1%
Operating Profit                   $52.0       $98.2    $319.1      $258.9
Operating Profit Margin             26.1%       46.6%     38.9%       42.8%
Depreciation and Amortization      $83.5       $70.8    $238.8      $207.0
Capital Expenditures (3)          $109.4      $347.8    $317.6      $823.0
--------------------------------------------------------------------------
NETWORK SYSTEMS
Total Revenues                    $284.0      $426.2  $1,020.3      $998.2
EBITDA (1)                         $16.8       $49.8     $34.4       $80.5
EBITDA Margin (1)                    5.9%       11.7%      3.4%        8.1%
Operating Profit (Loss)             $1.6       $31.3    $(15.4)      $23.1
Operating Profit Margin              0.6%        7.3%      N/A         2.3%
Depreciation and Amortization      $15.2       $18.5     $49.8       $57.4
Capital Expenditures (4)           $79.2       $38.4    $241.0      $111.2
--------------------------------------------------------------------------
ELIMINATIONS and OTHER
Total Revenues                    $(86.3)    $(153.7)  $(329.9)    $(311.9)
EBITDA (1)                        $(26.7)     $(71.8)  $(111.2)    $(155.0)
Operating Loss                    $(33.9)     $(76.0)  $(125.7)    $(166.5)
Depreciation and Amortization       $7.2        $4.2     $14.5       $11.5
Capital Expenditures              $(24.6)       $8.4     $(2.3)     $(42.2)
--------------------------------------------------------------------------
TOTAL
Total Revenues                  $1,688.5    $1,627.8  $5,228.6    $3,862.3
EBITDA (1)                        $107.9      $202.1    $440.2      $437.4
EBITDA Margin (1)                    6.4%       12.4%      8.4%       11.3%
Operating Loss                   $(130.4)      $(6.7)  $(232.9)     $(42.7)
Depreciation and Amortization     $238.3      $208.8    $673.1      $480.1
Capital Expenditures              $426.0      $492.2  $1,205.4    $1,145.4
==========================================================================

Certain  1999  amounts  have  been   reclassified   to  conform  with  the  2000
presentation.

(1)EBITDA (Earnings Before Interest,  Taxes,  Depreciation and  Amortization) is
   the sum of operating profit (loss) and depreciation and amortization.  EBITDA
   margin is calculated by dividing EBITDA by total revenues.
(2)Includes  expenditures  related to  satellites  amounting  to $37.5  million,
   $13.6 million, $73.2 million and $89.1 million, respectively.
(3)Includes  expenditures  related to  satellites  amounting  to $81.7  million,
   $93.2 million, $258.8 million and $408.8 million, respectively.  Also
   included in the third  quarter  and first nine  months of 1999 are $228.2
   million and $369.5 million, respectively, related  to  the  early   buy-out
   of satellite sale-leaseback.
(4)Includes  expenditures  related to  satellites  amounting  to $68.7  million,
   $28.0 million, $193.2 million and $74.9 million, respectively.








                                      - 8 -


                                    SIGNATURE


   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.


                                          HUGHES ELECTRONICS CORPORATION
                                          ------------------------------
                                                  (Registrant)



                                       By
Date October 12, 2000                  /s/Roxanne S. Austin
     ----------------                  -----------------------------------
                                       (Roxanne S. Austin,
                                        Chief Financial Officer)

















































                                      - 9 -
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SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C. 20549-1004

                                    FORM 8-K
                    CURRENT REPORT PURSUANT TO SECTION 13 OF
                       THE SECURITIES EXCHANGE ACT OF 1934

          Date of Report
(Date of earliest event reported) October 11, 2000
                                  ----------------

                         HUGHES ELECTRONICS CORPORATION
              -----------------------------------------------------
             (Exact name of registrant as specified in its charter)

      STATE OF DELAWARE               0-26035                 52-1106564
----------------------------   -----------------------    -------------------
(State or other jurisdiction        (Commission            (I.R.S. Employer
 of incorporation or organization)   File Number)         Identification No.)

                          200 North Sepulveda Boulevard
                          El Segundo, California 90245
                         -------------------------------
                                 (310) 662-9688
                                ----------------
               (Address, including zip code, and telephone number,
        including area code, of registrants' principal executive office)

                                      - 1 -

ITEM 5. OTHER EVENTS

      On October  11,  2000,  a news  release was issued on the subject of third
quarter consolidated earnings by Hughes Electronics  Corporation  (Hughes).  The
news release did not include certain financial statements, related footnotes and
certain other financial  information  that will be filed with the Securities and
Exchange  Commission  as part of  Hughes'  Quarterly  Report on Form  10-Q.  The
release is as follows:

                    HUGHES REPORTS THIRD QUARTER 2000 FINANCIAL RESULTS

     Editor's  note:  Hughes  invites  reporters to participate in a listen-only
mode on its third  quarter 2000 analyst call at 2 p.m. EDT  Wednesday,  Oct. 11.
The dial-in number is 719-457-2622, and the confirmation code is 644450.

      El Segundo,  Calif.,  October 11, 2000 -- Hughes Electronics  Corporation,
the world's  leading  provider of digital  television  entertainment,  satellite
services and  satellite-based  private business  networks,  today reported third
quarter 2000 revenues increased 3.7% to $1,688.5 million, compared with $1,627.8
million in the third quarter of 1999.  EBITDA(1) for the quarter decreased 46.6%
to $107.9  million and EBITDA  margin(1) was 6.4%,  compared to EBITDA of $202.1
million and EBITDA  margin of 12.4% in the third  quarter of 1999.  Hughes had a
third  quarter  2000  loss(2) of $88.5  million,  compared to a loss(2) of $29.6
million in the same period for 1999.

      "Our  continued  investment  in  high-growth,   high-value  businesses  is
reflected in our reduced  earnings this quarter," said Michael T. Smith,  Hughes
chairman and chief executive  officer.  "And now that we have completed the sale
of our  satellite  manufacturing  businesses  to The  Boeing  Company,  we  have
received more than $3.0 billion in after-tax  proceeds which we will use to fuel
further growth and pay down debt."

      Smith continued,  "In the third quarter, some of our most exciting service
businesses  attained  significant  milestones.  DIRECTV(R)  had its  best  third
quarter ever for subscriber  growth in both the United States and Latin America.
We began  shipping the AOL Plus  Powered by  DirecPC(TM)  product;  we signed up
additional  distribution  partners,  including  Juno and Pegasus;  and we are on
schedule to introduce our two-way via-satellite DirecPC(TM) broadband service by
the end of the year. In addition,  PanAmSat  announced  its first  customers for
NET/36(TM), its satellite-based Internet broadcast network for content providers
seeking to deliver streaming video, audio and data to broadband customers."

                           NINE-MONTH FINANCIAL REVIEW

      For the first three quarters of 2000, revenues increased 35.4% to $5,228.6
million,  compared to $3,862.3 million in the same period last year. This growth
was  primarily the result of record  subscriber  growth at DIRECTV in the United
States  and  additional  revenues  resulting  from the United  States  Satellite
Broadcasting,  Inc. (USSB) and PRIMESTAR,  Inc. transactions,  as well as higher
outright sales and sales-type leases of transponders at PanAmSat.

      EBITDA for the first nine  months of 2000 was  $440.2  million  and EBITDA
margin was 8.4%, compared to EBITDA of $437.4 million and EBITDA margin of 11.3%
in the same  period  of 1999.  The  slight  increase  in  EBITDA  was  primarily
attributable to higher  outright sales and sales-type  leases of transponders at
PanAmSat,  offset by increased  losses in the DIRECTV  businesses  due to higher
marketing costs associated with the record  subscriber growth in both the United
States and Latin  America.  The decline in margin  resulted  from the  increased
marketing  expenses for the DIRECTV  services and the lower  margins  associated
with PanAmSat's outright sales and sales-type leases.

                                      - 2 -

      For the first  nine  months of 2000,  losses(2)  totaled  $228.9  million,
compared to losses(2) of $43.6  million in 1999.  The higher loss was  primarily
due to increased  depreciation and amortization  resulting  principally from the
mid-1999  acquisitions of USSB and PRIMESTAR,  and higher net interest  expense.
Additionally,  in the first quarter of 2000,  Hughes  booked a one-time  pre-tax
charge of $171 million (reported in "Other,  net") related to its agreement with
SkyPerfecTV!  and  the  discontinuation  of  the  DIRECTV  Japan  business.  The
after-tax  impact of this charge was a loss of $13 million,  which  includes the
tax benefits associated with the write-off of Hughes' historical  investments in
DIRECTV Japan.

                  SEGMENT FINANCIAL REVIEW: THIRD QUARTER 2000

                            Direct-To-Home Broadcast

      Third quarter revenues for the segment increased 12.8% to $1,291.5 million
from  $1,144.6  million in the third  quarter of 1999.  The segment had negative
EBITDA of $17.7  million  compared  with  EBITDA of $55.1  million  in the third
quarter of 1999.

      United  States:  DIRECTV  reported  quarterly  revenues of $1,154  million
compared  with  revenues of $1,052  million  last year.  The increase was due to
continued  strong  subscriber  growth,  partially  offset  by the  impact of the
conclusion of the PRIMESTAR By DIRECTV medium-power service, as described below.

      DIRECTV added a record 450,000 net  subscribers to its high-power  DIRECTV
service in the quarter versus 423,000 net subscribers added in the third quarter
of 1999,  and converted  about 300,000  customers  from the PRIMESTAR By DIRECTV
medium-power  service.  While gross  subscriber  additions were up significantly
compared to the third quarter of 1999, net subscriber additions were impacted by
DIRECTV's  first-ever  price  increase  and  the  conclusion  of  the  PRIMESTAR
conversion process.

      As of September 30, 2000, DIRECTV had 9.0 million subscribers. Through the
first nine months of 2000, DIRECTV grew 37% in its core urban/suburban  markets,
which exclude those markets in the National Rural Telecommunications Cooperative
(NRTC) territories.

      EBITDA for the third quarter of 2000 was $36 million compared to EBITDA of
$86 million in last year's third quarter.  This decline was  principally  due to
higher  marketing  costs and the impact  from the  completion  of the  PRIMESTAR
conversion process.

      As a result of the PRIMESTAR  conversions,  DIRECTV no longer receives the
revenues  from the  PRIMESTAR  By  DIRECTV  customers  who  either  discontinued
service, or who converted but live in NRTC territories.  DIRECTV receives only a
small percentage of revenues from customers in these territories,  thus reducing
the revenues and EBITDA  attributable  to DIRECTV in the third  quarter of 2000.
Since  its  1999  acquisition  of  PRIMESTAR,   DIRECTV  converted  a  total  of
approximately 1.5 million customers to its high-power service. DIRECTV shut down
the PRIMESTAR By DIRECTV service on September 30,  2000--six months ahead of its
original schedule.

      Latin  America:  The DIRECTV  businesses in Latin America  generated  $136
million in revenues for the quarter, up 79% over the $76 million reported in the
third  quarter of 1999.  This  increase was due to continued  strong  subscriber
growth.

      The DIRECTV  service in Latin America added 126,000 net new subscribers in
the third quarter of 2000, an 88% increase over the 67,000  acquired in the same
period last year. The total number of DIRECTV subscribers in Latin America as of
September 30, 2000 was 1,136,000.

      The DIRECTV businesses in Latin America had negative EBITDA of $50 million
compared  to negative  EBITDA of $24  million  for the same period in 1999.  The
decline was primarily due to the impact of higher marketing expenses  associated
with the record subscriber growth.

                                      - 3 -

     Japan: DIRECTV Japan's loss was $3 million for the quarter, compared with a
loss  of $20  million  in the  third  quarter  of  1999.  DIRECTV  Japan  ceased
broadcasting on September 30, 2000, and is on schedule to complete the migration
of customers to SkyPerfecTV! and the closure of the legal entity.

                               Satellite Services

      PanAmSat,  which is 81% owned by  Hughes,  generated  third  quarter  2000
revenues of $199.3  million  compared  with $210.7  million in the prior  year's
period.  The 5.4% decrease was driven primarily by a third quarter 1999 one-time
customer payment of approximately $15 million associated with the termination of
a direct-to-home video services agreement in India.

      Third quarter 2000 EBITDA for the segment was $135.5  million  compared to
$169.0 million in the third quarter 1999, a 19.8% decrease. EBITDA margin in the
third  quarter of 2000 was 68.0%,  compared to 80.2% in the same period of 1999.
The  decrease  in EBITDA and EBITDA  margin was  primarily  due to the  one-time
customer  payment  received in the third  quarter of 1999; an increase in direct
operating costs and selling, general and administrative (SG&A) costs as a result
of the company's  continued  fleet  expansion;  and investment in the new NET/36
broadband Internet initiative.

      As of September 30, 2000,  PanAmSat had  contracts for satellite  services
representing future payments (backlog) of approximately $5.8 billion compared to
approximately  $6.0 billion in the second quarter of 2000.  This includes a $350
million  reduction in backlog  resulting  from  anomalies  on the Galaxy  VIII-i
satellite.  This  reduction  would be more  than  offset by  additional  backlog
generated by the Galaxy VIII-iR  replacement  satellite that will be constructed
if PanAmSat's agreement in principal with Galaxy Latin America is finalized.

                                 Network Systems

      Hughes  Network  Systems'  (HNS's) third quarter 2000 revenues were $284.0
million,  compared to $426.2  million in the third quarter of 1999. The decrease
in revenues was  principally  due to lower sales of DIRECTV  receiver  equipment
associated  with the early  completion of the transition of PRIMESTAR By DIRECTV
subscribers to the  high-power  DIRECTV  service.  HNS shipped  470,000  DIRECTV
receiver systems in the third quarter of 2000,  compared to 730,000 units in the
same  period  last year.  The  discontinuation  of certain  narrowband  wireless
businesses, announced in January 2000, also contributed to the reduced revenues,
as did lower revenues in the mobile satellite network product line.

      In the quarter, HNS had EBITDA of $16.8 million and EBITDA margin of 5.9%,
compared  to EBITDA of $49.8  million and 11.7%  margin in the third  quarter of
1999.  The decline in EBITDA and EBITDA  margin is  attributable  to the reduced
revenues;  increased  investment in the upcoming launch of new DirecPC services,
including AOL Plus Powered by DirecPC;  and the elimination of DIRECTV equipment
subsidies from DIRECTV.  These  reductions were offset by a $21 million one-time
EBITDA gain that resulted from successful  negotiations with certain  narrowband
wireless customers for receivables previously written-off.

      New orders in the third  quarter of 2000 were $423  million,  compared  to
$295 million in the same period last year, driving backlog to approximately $1.3
billion as of September  30, 2000.  This  increase was  primarily  due to higher
sales of domestic VSAT (very small aperture  terminal) private business networks
to customers including Exxon/Mobile, CAIS Internet, Musicland and National Cable
Communications.  In  total,  these new  contracts  represent  more  than  14,000
additional  points of presence on HNS-built  networks.  Mobile satellite network
sales also contributed to the increase, and included a $150 million contract for
Inmarsat's next-generation ground infrastructure.

                                      - 4 -

                                  BALANCE SHEET

      From December 31, 1999 to September 30, 2000,  the Company's  consolidated
cash balance  decreased $59.8 million to $178.4 million and total debt increased
$949.4  million to $3,090.8  million.  The principal cash  requirements  for the
first nine months of 2000 were related to general working  capital  requirements
and capital expenditures for property, plant, equipment and satellites.

      Hughes  Electronics  Corporation is a unit of General Motors  Corporation.
The earnings of Hughes are used to calculate the earnings per share attributable
to the General Motors Class H common stock (NYSE:GMH).

      A live  webcast  of  Hughes'  third-quarter  2000  earnings  call  will be
available at the company's website at  www.hughes.com  or at www.vcall.com.  The
call will  begin at 2:00 p.m.  ET,  today.  Investors  are  advised  to allow 15
minutes  prior to the call to register  and  download  any  necessary  software.
Following  the  completion  of the call,  the  webcast  will be  archived on the
Investor Relations portion of the Hughes website for at least one week.

      NOTE: Hughes Electronics  Corporation  believes that some of the foregoing
statements may constitute forward-looking  statements. When used in this report,
the words  "estimate,"  "plan,"  "project,"  "anticipate,"  "expect,"  "intend,"
"outlook,"  "believe,"  and other similar  expressions  are intended to identify
such  forward-looking  statements and  information.  Important  factors that may
cause actual  results of Hughes to differ  materially  from the  forward-looking
statements  in this report are set forth in the Form 10-Ks filed with the SEC by
GM and Hughes.
---------------------
(1) EBITDA (Earnings Before Interest,  Taxes,  Depreciation and Amortization) is
the sum of operating  profit (loss) and depreciation  and  amortization.  EBITDA
margin is calculated by dividing EBITDA by total revenues.
(2) Equals  reported  Net Loss  excluding  the  effects of  purchase  accounting
adjustments related to General Motors' acquisition of Hughes in 1985.

                                       ###

                                      - 5 -

STATEMENTS OF OPERATIONS AND
AVAILABLE SEPARATE CONSOLIDATED NET LOSS
(Dollars in Millions)
(Unaudited)
                                                           Nine Months Ended
                                     Third Quarter           September 30,
                                   -----------------       -----------------
                                   2000        1999        2000        1999
----------------------------------------------------------------------------
Revenues
Direct broadcast, leasing, and
  other services                $1,485.5    $1,345.0    $4,523.3    $3,147.0
Product sales                      203.0       282.8       705.3       715.3
----------------------------------------------------------------------------
Total Revenues                   1,688.5     1,627.8     5,228.6     3,862.3
----------------------------------------------------------------------------
Operating Costs and Expenses
Broadcast programming and other
  costs                            681.4       596.4     2,035.9     1,374.4
Cost of products sold              152.1       273.2       585.1       631.4
Selling, general and
  administrative expenses          747.1       556.1     2,167.4     1,419.1
Depreciation and amortization      238.3       208.8       673.1       480.1
----------------------------------------------------------------------------
Total Operating Costs and
  Expenses                       1,818.9     1,634.5     5,461.5     3,905.0
----------------------------------------------------------------------------

Operating Loss                    (130.4)       (6.7)     (232.9)      (42.7)

Interest income                      7.1         2.6        15.3        20.8
Interest expense                   (66.5)      (51.7)     (169.2)      (71.0)
Other, net                         (11.9)      (31.6)     (294.4)      (96.3)
----------------------------------------------------------------------------
Loss from Continuing Operations
   Before Income Taxes and
   Minority Interests             (201.7)      (87.4)     (681.2)     (189.2)

Income tax benefit                 (77.8)      (36.8)     (354.4)      (59.7)
Minority interests in net losses
  of subsidiaries                   19.6         8.8        31.7        22.1
-----------------------------------------------------------------------------

Loss from continuing operations   (104.3)      (41.8)     (295.1)     (107.4)

Income from discontinued
  operations, net of taxes          10.5         6.9        50.3        47.9
----------------------------------------------------------------------------

Net Loss                           (93.8)      (34.9)     (244.8)      (59.5)

Adjustments to exclude the effect
  of GM purchase accounting
  adjustments                        5.3         5.3        15.9        15.9
----------------------------------------------------------------------------

Loss Excluding the Effect of
   GM Purchase Accounting
   Adjustments                     (88.5)      (29.6)     (228.9)      (43.6)

Preferred stock dividends          (24.1)      (24.7)      (72.9)      (26.3)
-----------------------------------------------------------------------------

Loss Used for Computation of
   Available Separate
   Consolidated Net Income
   (Loss)                        $(112.6)     $(54.3)    $(301.8)     $(69.9)
=============================================================================

Available Separate Consolidated
  Net Income (Loss)
Average number of shares of
  General Motors Class H Common
  Stock outstanding (in millions)
  (Numerator)                      873.9       405.3       616.7       362.4
Average Class H dividend base
  (in millions) (Denominator)    1,297.8     1,286.7     1,296.5     1,244.1
Available Separate Consolidated
  Net Income (Loss)               $(75.8)     $(17.1)    $(143.6)     $(20.4)
=============================================================================
Certain 1999 amounts have been reclassified to conform with the 2000
presentation.

                                      - 6 -

BALANCE SHEET
(Dollars in Millions)
                                                   Sept. 30,
                                                      2000         December 31,
ASSETS                                            (Unaudited)          1999
-------------------------------------------------------------------------------
Current Assets
Cash and cash equivalents                            $178.4           $238.2
Accounts and notes receivable                       1,145.8            960.9
Contracts in process                                  130.1            155.8
Inventories                                           346.0            236.1
Net assets of discontinued operations               1,128.8          1,224.6
Deferred income taxes                                 537.8            254.3
Prepaid expenses and other                            931.4            788.1
----------------------------------------------------------------------------

Total Current Assets                                4,398.3          3,858.0
Satellites, net                                     4,229.6          3,907.3
Property, net                                       1,588.1          1,223.0
Net Investment in Sales-type Leases                   227.5            146.1
Intangible Assets, net                              7,207.7          7,406.0
Investments and Other Assets                        2,380.3          2,056.6
----------------------------------------------------------------------------

Total Assets                                      $20,031.5        $18,597.0
============================================================================

LIABILITIES AND STOCKHOLDER'S EQUITY
----------------------------------------------------------------------------
Current Liabilities
Accounts payable                                   $1,149.5         $1,062.2
Deferred revenues                                     153.6            130.5
Short-term borrowings and current portion
  of long-term debt                                 1,133.9            555.4
Accrued liabilities and other                       1,312.6            894.0
----------------------------------------------------------------------------

Total Current Liabilities                           3,749.6          2,642.1
Long-Term Debt                                      1,956.9          1,586.0
Other Liabilities and Deferred Credits              1,414.5          1,454.2
Deferred Income Taxes                                 947.2            689.1
Commitments and Contingencies
Minority Interests                                    574.3            544.3
Stockholder's Equity                               11,389.0         11,681.3
----------------------------------------------------------------------------

Total Liabilities and Stockholder's Equity        $20,031.5        $18,597.0
============================================================================

Holders of GM Class H common stock have no direct rights in the equity or assets
of Hughes,  but rather  have  rights in the equity and assets of General  Motors
(which includes 100% of the stock of Hughes).

                                      - 7 -

SELECTED SEGMENT DATA
(Dollars in Millions)

                                                        Nine Months Ended
                                    Third Quarter         September 30,
                                --------------------    -----------------
                                  2000        1999      2000         1999
---------------------------------------------------------------------------
DIRECT-TO-HOME BROADCAST
Total Revenues                  $1,291.5    $1,144.6  $3,717.5    $2,571.4
EBITDA (1)                        $(17.7)      $55.1    $(40.9)      $46.0
EBITDA Margin (1)                    N/A         4.8%      N/A         1.8%
Operating Loss                   $(150.1)     $(60.2)  $(410.9)    $(158.2)
Depreciation and Amortization     $132.4      $115.3    $370.0      $204.2
Capital Expenditures (2)          $262.0       $97.6    $649.1      $253.4
--------------------------------------------------------------------------
SATELLITE SERVICES
Total Revenues                    $199.3      $210.7    $820.7      $604.6
EBITDA (1)                        $135.5      $169.0    $557.9      $465.9
EBITDA Margin (1)                   68.0%       80.2%     68.0%       77.1%
Operating Profit                   $52.0       $98.2    $319.1      $258.9
Operating Profit Margin             26.1%       46.6%     38.9%       42.8%
Depreciation and Amortization      $83.5       $70.8    $238.8      $207.0
Capital Expenditures (3)          $109.4      $347.8    $317.6      $823.0
--------------------------------------------------------------------------
NETWORK SYSTEMS
Total Revenues                    $284.0      $426.2  $1,020.3      $998.2
EBITDA (1)                         $16.8       $49.8     $34.4       $80.5
EBITDA Margin (1)                    5.9%       11.7%      3.4%        8.1%
Operating Profit (Loss)             $1.6       $31.3    $(15.4)      $23.1
Operating Profit Margin              0.6%        7.3%      N/A         2.3%
Depreciation and Amortization      $15.2       $18.5     $49.8       $57.4
Capital Expenditures (4)           $79.2       $38.4    $241.0      $111.2
--------------------------------------------------------------------------
ELIMINATIONS and OTHER
Total Revenues                    $(86.3)    $(153.7)  $(329.9)    $(311.9)
EBITDA (1)                        $(26.7)     $(71.8)  $(111.2)    $(155.0)
Operating Loss                    $(33.9)     $(76.0)  $(125.7)    $(166.5)
Depreciation and Amortization       $7.2        $4.2     $14.5       $11.5
Capital Expenditures              $(24.6)       $8.4     $(2.3)     $(42.2)
--------------------------------------------------------------------------
TOTAL
Total Revenues                  $1,688.5    $1,627.8  $5,228.6    $3,862.3
EBITDA (1)                        $107.9      $202.1    $440.2      $437.4
EBITDA Margin (1)                    6.4%       12.4%      8.4%       11.3%
Operating Loss                   $(130.4)      $(6.7)  $(232.9)     $(42.7)
Depreciation and Amortization     $238.3      $208.8    $673.1      $480.1
Capital Expenditures              $426.0      $492.2  $1,205.4    $1,145.4
==========================================================================

Certain  1999  amounts  have  been   reclassified   to  conform  with  the  2000
presentation.

(1)EBITDA (Earnings Before Interest,  Taxes,  Depreciation and  Amortization) is
   the sum of operating profit (loss) and depreciation and amortization.  EBITDA
   margin is calculated by dividing EBITDA by total revenues.
(2)Includes  expenditures  related to  satellites  amounting  to $37.5  million,
   $13.6 million, $73.2 million and $89.1 million, respectively.
(3)Includes  expenditures  related to  satellites  amounting  to $81.7  million,
   $93.2 million, $258.8 million and $408.8 million, respectively.  Also
   included in the third  quarter  and first nine  months of 1999 are $228.2
   million and $369.5 million, respectively, related  to  the  early   buy-out
   of satellite sale-leaseback.
(4)Includes  expenditures  related to  satellites  amounting  to $68.7  million,
   $28.0 million, $193.2 million and $74.9 million, respectively.

                                      - 8 -

                                    SIGNATURE

   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.

                                          HUGHES ELECTRONICS CORPORATION
                                          ------------------------------
                                                  (Registrant)

                                       By
Date October 12, 2000                  /s/Roxanne S. Austin
     ----------------                  -----------------------------------
                                       (Roxanne S. Austin,
                                        Chief Financial Officer)

                                      - 9 -