Latest OnLine Editon  Read Here

GM Financial Reports More Financing, Fewer Leases

GM Financial Reports More Financing, Fewer Leases Featured

General Motors Financial Company Inc. announced net income of $254 million for the quarter ended Dec. 31, compared to $131 million for the quarter ended Dec. 31, 2015.
 Net income for the calendar year was $754 million, compared to $646 million for 2015.
Retail loan originations were $4.7 billion for the quarter ended Dec. 31, compared to $5.1 billion for the quarter ended Sept. 30, and $4.4 billion for the quarter ended Dec.31, 2015. Retail loan originations for 2016 were $18 billion, compared to $17.5 billion for 2015.
The outstanding balance of retail finance receivables was $32.9 billion at Dec. 31.
Operating lease originations were $5.9 billion for the quarter, compared to $6.2 billion
for the previous quarter and $5.4 billion for the quarter ended Dec. 31, 2015. Operating
lease originations for the year were $25.4 billion, compared to $20.2 billion for 2015.
Retail finance receivables 31-60 days delinquent were 3.7 percent of the portfolio at Dec. 31, and 4.2 percent at Dec. 31, 2015. Accounts more than 60 days delinquent were 1.7 percent of the portfolio at Dec. 31, up slightly from 1.6 percent at Dec. 31, 2015.
Annualized net charge-offs were 2.2 percent of average retail finance receivables for the quarter ended Dec. 31, flat year over year. For the year, retail net charge offs were 2 percent, compared to 1.9 percent in 2015.

Last modified on Tuesday, 07 February 2017 20:14