GM Financial Net Income Rises

By Staff Writer April 28, 2022

General Motors Financial Co. announced net income of $962 million for the quarter ended March 31, 2022, compared to $909 million for the quarter ended Dec. 31, 2021, and $878 million for the quarter ended March 31, 2021.

Retail loan originations were $8.1 billion for the quarter ended March 31, 2022, compared to $7.5 billion for the quarter ended Dec. 31, 2021, and $8.2 billion for the quarter ended March 31, 2021. The outstanding balance of retail finance receivables, net of fees was $59.5 billion on March 31, 2022, compared to $58.1 billion on December 31, 2021 and $53.4 billion on March 31, 2021.

Operating lease originations were $3.5 billion for the quarter ended March 31, 2022, compared to $2.8 billion for the quarter ended Dec. 31, 2021, and $5.8 billion for the quarter ended March 31, 2021. Leased vehicles, net was $36.6 billion on March 31, 2022, compared to $37.9 billion at Dec. 31, 2021 and $40.3 billion on March 31, 2021.

The outstanding balance of commercial finance receivables, net of fees was $7.4 billion on March 31, 2022, compared to $6.8 billion at Dec. 31, 2021 and $7.0 billion on March 31, 2021.

Retail finance receivables 31-60 days delinquent were 1.7% of the portfolio on March 31, 2022 and 1.4% on March 31, 2021. Accounts more than 60 days delinquent were 0.5% of the portfolio at both March 31, 2022 and March 31, 2021.

Annualized net charge-offs were 0.7% of average retail finance receivables for the quarter ended March 31, 2022 and 0.8% for the quarter ended March 31, 2021.

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Last modified on Friday, 29 April 2022 11:39