GM Financial Finances More Vehicles Featured

By Staff Writer February 08, 2019 250

General Motors Financial Co. announced income from continuing operations before income taxes of $416 million for the fourth quarter.


That is down from $498 million for the third quarter and up from $301 million for the fourth quarter of 2017.


Retail loan originations were $8.4 billion for the quarter, compared to $6.7 billion for the third quarter and $4.4 billion for the fourth quarter of 2017.


The outstanding balance of retail finance receivables, net of fees, was $40.7 billion at Dec. 31.


Operating lease originations were $5.2 billion for the fourth quarter, compared to $5.4 billion for the third quarter and $5.8 billion for the fourth quarter of 2017.


Retail finance receivables 31-60 days delinquent were 3.3 percent of the portfolio at Dec. 31, down from 4.1 percent at Dec. 31, 2017. Accounts more than 60 days delinquent were 1.4 percent of the portfolio at Dec. 31, down from 1.7 percent at Dec. 31, 2017.


Annualized net charge-offs were 1.8 percent of average retail finance receivables for the fourth quarter, down from 2.2 percent for the fourth quarter of 2017.


The company had total available liquidity of $26.2 billion at Dec. 31, consisting of $4.9 billion of cash and cash equivalents, $18 billion of borrowing capacity on unpledged eligible assets, $0.3 billion of borrowing capacity on committed unsecured lines of credit, $1 billion of borrowing capacity on the Junior Subordinated Revolving Credit Facility from GM, and $2 billion of borrowing capacity on the GM Revolving 364-Day Credit Facility.

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Last modified on Friday, 08 February 2019 00:55