GM Financial Joins Hyperledger to Test Blockchain

General Motors Financial Co. has joined as a general member of Hyperledger — an open-source collaborative effort from the Linux Foundation created to advance cross-industry blockchain technologies. Blockchain is the same technology used by cryptocurrencies such as bitcoin, and provides secure online data transfers by allowing sensitive financial data to be transmitted electronically without an […]
  • Emma Sandler
  • December 22, 2017
  • 1

GM Financial Explores Options for Push Notifications Through OnStar

LAS VEGAS — General Motors Financial Co. is “in a discussion phase” to explore ways to utilize OnStar navigation and security systems to push notifications about payment information to borrowers, President and Chief Executive Dan Berce said. OnStar is a subsidiary of General Motors Co. and services 11 million customers globally. “With vehicles increasingly becoming […]
  • William Hoffman
  • November 14, 2017
  • 0

GM Financial Braces for Off-Lease Vehicle ‘Onslaught’ in 2018, CEO Says

LAS VEGAS — General Motors Financial Co. has sustained double-digit year-over-year loan and lease growth this year, however, depreciating used-vehicle values will create headwinds moving forward, said President and Chief Executive Dan Berce. “Our key goal for GMF is to survive the residual value onslaught as supply is going to keep through until 2019,” Berce […]
  • William Hoffman
  • November 6, 2017
  • 0

GM Financial Increases Credit Quality in Latest Securitization

Credit quality in General Motors Financial Co. securitization pools has been steadily climbing, according to a presale report by Moody’s Investors Service. GM’s latest ABS issuance — GM Financial Consumer Automobile Receivables Trust 2017-3  — is a $1 billion transaction backed prime retail installment auto loans, according to the report. “The credit quality of the collateral […]
  • Huixin Deng
  • September 28, 2017
  • 0

GM’s Maven Could Position Itself to Become Full-Fledged Rideshare

Maven, the mobility unit owned and operated by General Motors Co., is reportedly considering building out the platform to include on-demand ridesharing in the style of Uber or Lyft. With the possibility of adding an on-demand rideshare element to Maven, the platform would consist of a full spectrum of mobility options including hourly and weekly rentals, […]
  • Emma Sandler
  • August 17, 2017
  • 1

GM Financial’s Dan Berce Joins AFS for Fireside Chat

Auto Finance News is excited to announce that Dan Berce, president and chief executive of General Motors Financial Co., will participate in a fireside chat at the upcoming Auto Finance Summit. The conference will take place Oct. 25-27 at the Wynn in Las Vegas. Daniel E. Berce has been president and chief executive of GM Financial since August 2005 — having navigated AmeriCredit […]
  • Natalie Mattila
  • July 10, 2017
  • 0

Ford Credit Shows More Profit Stability Than GMF, Moody’s Says

Despite shared profitability challenges, Ford Credit has greater portfolio stability than General Motors Financial (GMF), Moody’s says in a report released this morning. Ford Credit’s annualized growth was 9.2% as of March 31, compared with GMF at 29.4% as of March 31. However, with GMF selling its European business to France’s PSA group in March, the lender’s […]
  • Huixin Deng
  • June 26, 2017
  • 0

Maven Aims to Ease Delivery Drivers Into Leasing With Weekly Rental Program

General Motors Co.’s mobility services platform Maven launched a rental product for rideshare and delivery drivers called Maven Gig yesterday, in hopes it will serve as a gateway for consumers to lease vehicles from General Motors Financial Co., Rachel Bhattacharya, GM’s director of commercial mobility and AV fleet operations, told Auto Finance News. “Obviously, if a renter just […]
  • Natalie Mattila
  • May 11, 2017
  • 1