Tag Archives: gm financial

General Motors Q3 Earnings – $2.9 Billion

Posted on 27 October 2021 by Ken Zino

General Motors Co. (NYSE: GM) today reported third-quarter earnings of $2.922 Billion. GM said it is on track to deliver full-year 2021 EBIT-adjusted earnings approaching the high end of its guidance range of $11.5B to $13 Billion. EBIT-adjusted was $2.9 … Continue reading →

Posted in economy, financial results, manufacturing | Tagged , , , , , | Leave a comment

General Motors Financial Net Income Up slightly in Q1

Posted on 23 April 2015 by Ken Zino

GM has now rebuilt its former GMAC Financial empire as a separate business after GMAC (aka Ally) one that went bankrupt over demonstrably and fraudulently bad home loans during the Great Recession. Continue reading →

Posted in financial results | Tagged , , , , | Leave a comment

GM sells all of its Stock in Ally, formerly GMAC

Posted on 13 December 2013 by Ken Zino

GM’s plan is to put back in place a GMAC-like operation, dubbed GM Financial, with many of the companies coming from Ally, which was GMAC and went bankrupt at the onset of the Great Recession because of its reckless home lending practices. A controversial U.S. taxpayer-funded bailout ensued, one that has not been paid back. Continue reading →

Posted in financial results | Tagged , , , , , | Leave a comment

GM Financial Buys Ally Assets in Brazil

Posted on 7 October 2013 by Ken Zino

The latest move continues GM’s plan to put back in place a GMAC-like operation, with many of the companies coming from Ally, which was GMAC and went bankrupt at the onset of the Great Recession because of its reckless home lending practices. A controversial U.S. taxpayer-funded bailout ensued, one that has not been paid back. Continue reading →

Posted in auto news, financial results | Tagged , , , , | Leave a comment

GM Buys Overseas Finance Business from Ally for $4.2 Billion

Posted on 23 November 2012 by Ken Zino

GM said that with addition of Ally’s international operations, GM Financial will be able to provide credit for customers and dealers in markets that make up about 80% of GM’s global sales. In essence, GM is recreating GMAC. Continue reading →

Posted in auto news, economy, news analysis | Tagged , , , , , , , , | Leave a comment

GM Bids on Ally’s International Auto Lending Business

Posted on 14 August 2012 by Ken Zino

The GM bid carries some potential risks for U.S. taxpayers, which still own a large part of the company. If GM buys the international Ally businesses, it could expand lending overseas, but not without potentially hurting liquidity. GM Financial’s consolidated assets could more than double, and it could incur substantial amounts of indebtedness, including secured debt. GM Financial’s ratio of adjusted assets to adjusted equity could more than double as well. It all depends on how much GM acquires, and then its ability to successfully run the new operations while integrating them into the larger company. Continue reading →

Posted in auto news, economy, financial results, news analysis | Tagged , , , , , | Leave a comment