Get an Auto Loan Quote

GM Financial Makes $124 Million in 3Q

General Motor’s Financials third-quarter net income increased from $109 million last year to $124 million this year. For the year, net income was $373 million through September, well over the $282 million it had earned for the same three quarters in 2011.

From the second quarter, consumer loan originations remained stable floating at around $1.5 billion. Through the first ninth months of 2012, $4.4 billion in originations were generated. On a less-than-positive note, delinquencies have been rising as well with sixty-day delinquencies increasing from 1.7% of the portfolio to 1.9%, while 31-to-60-day delinquencies reached 5.2% from 4.7% for the same period in 2011.

About the Author

The author has many years of experience in automotive finance and insurance. However, each consumer's situation is unique. It is best to contact a finance specialist for further assistance.
Email | Twitter | Google+