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, […]

GM Financial Offers First ABS of 2018

GM Financial started off the new year with the first auto ABS deal across the industry, and the securitization at $1.3 billion of prime loans is also the captive’s first public deal in the Consumer Auto Receivables shelf. Overall the Consumer Automobile Receivables pool is the fourth securitization of prime quality retail installment auto loan contracts […]

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 […]

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 […]
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