12 t March 4, 2013
USED CAR NEWS
GM Financial Income Dips General Motors Financial Co. announced net income of $91 million for the quarter ended Dec. 31, compared to $104 million for the quarter ended Dec. 31, 2011. Net income for the year was $463 million, compared to $386 million for the year ended Dec. 31, 2011. Net income for the quarter and year ended Dec. 31, 2012 was impacted by $20.4 million in pre-tax expenses related to the pending acquisition of Ally Financial Inc.’s international operations. Consumer loan originations were $1.2 billion for the quarter ended
Dec. 31, compared to $1.5 billion for the quarter ended Sept. 30, 2012, and $1.2 billion for the quarter ended Dec. 31, 2011. Consumer loan originations for the year ended Dec. 31 were $5.6 billion, compared to $5.1 billion for the year ended Dec. 31, 2011. The outstanding balance of consumer finance receivables totaled $11 billion. Lease originations of General Motors Co. vehicles were $265 million for the quarter ended Dec. 31, compared to $299 million for the quarter ended Sept. 30 and $314 million for the latest quarter.
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