General Motors Seen Tightening Integration With Captive Amid Leadership Changes

General Motors‘ latest executive management change appears to be part of a push for integration between the OEM and captive finance arm GM Financial, Jeremy Acevedo, Edmunds‘ manager of industry analysis, told Auto Finance News. Chief Executive Mary Barra is taking charge of GM Financial, according to several reports. GM’s President Dan Ammann, who had been overseeing […]

GM Financial Profits, Originations Grow in 3Q

General Motors Financial boasted increased profits, higher loan originations, and improved credit quality in the third quarter, according to yesterday’s earnings. Net income for the quarter shot up 118% to $441 million, as the captive notched its fifth straight quarter of higher credit scores underlying finance volume. “We financed 43% of GM new vehicles sales […]

Costco Holiday Sales Event Adds More Incentive This Year

Costco has tacked on $500 rebates to its annual auto program holiday sales event announced last week. As in previous years, the retailer has partnered with General Motors to offer members discounts on new and leased 2018 and 2019 Chevrolet, Buick, GMC, and Cadillac models. Qualifying models are eligible for the discount until Jan. 2, […]

Earnings Roundup: Ford, GM, CapOne Achieve Growth in 1Q

Ford Motor Credit Co., GM Financial, and Capital One Auto Finance all grew their portfolios in the first quarter despite a mixed environment for originations, delinquencies, and charge-offs. Ford Motor Credit Ford Motor Credit originated 93,000 loans in the first quarter down from 98,000 the same period the year prior. Despite that, the company grew […]

General Motors to Boost Mobility Investments in 2018

In a year in which General Motors Co. has sold off products like Opel/Vauxhall or exited markets like South and East Africa and India, the automaker is doubling down on mobility, according to its fourth-quarter earnings call today. “We are making remarkable progress in advancing our vision for personal mobility,” Mary Barra, chief executive of […]
  • Emma Sandler
  • February 6, 2018
  • Earnings

GM Financial Mischarged Borrowers After Servicing Consolidation

GM Financial failed to charge the correct amount to hundreds of borrowers paying their January bill due to errors in its servicing platform amid a consolidation of its various systems, Bob Beatty, executive vice president of customer experience, explained last week. While the glitch impacted less than 1% of consumers, it resulted in a 300% increase […]

Disruptive Economy Offers ‘Big Role’ for Auto Lenders, GM Financial CEO Says [VIDEO]

Mobility and disruptive technology continue to develop in the automotive industry, and there’s a “big role” for auto finance companies in a disruptive economy, according to Dan Berce, president and chief executive of General Motors Financial Co. As General Motors Co. — GM Financial’s parent — takes more strides into emerging mobility and autonomous technologies, […]
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