GM Financial realized its second best year for credit metrics in 2013, which drove profitability for the captive finance company. But officials believe credit will be ‘a bit weaker’ in 2014.
Officials say they don’t expect the CFPB’s targeting of dealer participation to impact the company’s economics. They also offer updates on the company’s roll out of a prime product and its acquisition of Ally Financial’s international business units.
GM Financial officials discuss the company’s recent acquisitions of Ally Financial’s European and Latin American business entities, as well as its entry into the prime market in 2014.
Scott France, an auto finance veteran who’s worked for AmeriCredit, Triad and WorldOmni, has is launched a third-party servicer of subprime auto loans. He says he’s looking to help new finance sources enter the market.
Things are looking up for the below-prime segment, but our analyst warns that there still may be trouble ahead for the finance companies and dealers who serve that segment.
Chris ‘Captain Credit’ Cochran struck gold for Haddad Dealerships with a social media promotion that grew into a standalone special finance department.
GM Financial’s rollout of a prime leasing program in 16 states may seem to indicate that the company formerly known as AmeriCredit is leaving its roots behind. Company officials, however, maintain that the former subprime finance company is merely sticking with the game plan General Motors set forth when it purchased the company last October: fill the finance gaps.
General Motors Financial Company Inc., formerly known as AmeriCredit Corp., reported net income of $51 million for the quarter ended Sept. 30, 2010.
It’s clear the company formerly known as GMAC Financial Services is on the rebound, but what about its insurance unit? Well, the editor gets the scoop.
General Motors’ acquisition of AmeriCredit Corp. was expected to close on Friday, three days after AmeriCredit’s stockholders approved the sale. The company will be renamed General Motors Financial Company Inc. (GM Financial).
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