GM Financial Reports More Originations Featured

By Staff Writer April 30, 2018

General Motors Financial Company Inc. announced net income of $369 million for the quarter ended March 31, compared to $202 million for the quarter ended March 31, 2017.
Retail loan originations were $5.1 billion for the quarter, compared to $4.4 billion for the quarter ended Dec. 31, 2017, and $5.6 billion for the quarter ended March 31, 2017. The outstanding balance of retail finance receivables was $34.3 billion at March 31.


Operating lease originations were $5.7 billion for the quarter ended March 31, compared to $5.8 billion for the quarter ended Dec. 31, 2017, and $6.3 billion for the quarter ended March 31, 2017. Leased vehicles, net was $43.4 billion at March 31.


The outstanding balance of commercial finance receivables was $10.4 billion at March 31, compared to $10.3 billion at Dec. 31, 2017 and $8.5 billion at March 31, 2017.
Retail finance receivables 31-60 days delinquent were 3.7 percent of the portfolio at March 31, and 3.4 percent at March 31, 2017. Accounts more than 60 days delinquent were 1.7 percent of the portfolio at March 31, and 1.4 percent at March 31, 2017.


Annualized net charge-offs were 2.1 percent of average retail finance receivables for the quarter ended March 31, and 2.3 percent for the quarter ended March 31, 2017.

Last modified on Monday, 30 April 2018 22:31

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