GMAC Expects 2005 Net Income to Reach $2.5 Billion

NEW YORK -- General Motors Acceptance Corp. expects consolidated net income to be at least $2.5 billion for 2005, reported The Detroit News.

The automaker's financing arm also intends to remit dividends in excess of $2 billion to General Motors Corp., said Eric Feldstein, chairman of GMAC.

In addition, he said GMAC expects year-over-year net income from its financing operations to be down and net income from its mortgage and insurance operations to be up.