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Tag Archives: gm financial
General Motors Q3 Earnings – $2.9 Billion
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 auto industry commentary, autoinformed.com, gm financial, gm q3, Ken Zino, LG Electronics
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General Motors Financial Net Income Up slightly in Q1
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 autoinformed, autoinformed.com, gm financial, Ken Zino, saic
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GM sells all of its Stock in Ally, formerly GMAC
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 ally, autoinformed, autoinformed.com, gm financial, gmac, Ken Zino
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GM Financial Buys Ally Assets in Brazil
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 ally financial, autoinformed, autoinformed.com, gm financial, gmac, Ken Zino, Michael A. Carpenter
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GM Buys Overseas Finance Business from Ally for $4.2 Billion
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 ally, auto bailouts, auto informed, autoinformed.com, automotive news, finance, gm financial, Ken Zino, tarp
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GM Bids on Ally’s International Auto Lending Business
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 ally, auto informed, autoinformed.com, automotive news, gm financial, Ken Zino
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Annals of Marketing – GM Loyalty Mastercard
General Motors (NYSE: GM) said today that it is redesigning its GM Rewards™ loyalty program and announcing the launch of the GM Rewards™ Mastercard® from Barclays US Consumer Bank. The revamped loyalty program is said to be simpler. Moreover, the new card provides customers more ways to earn and redeem GM Rewards points across GM brands for new vehicles, services, parts and accessories. GM Rewards members can also earn and redeem GM Rewards points towards digital services like most OnStar plans and Super Cruise [see footnote 1], the hands-free driver assistance technology which can be used on about 750,000 miles of compatible roads across the U.S. and Canada.
“GM has led the U.S. automotive industry in loyalty for a decade [2], and now we’re rewarding both our new and existing members with easier access to savings opportunities and new ways to engage with us,” said Ralph Darmo, VP of loyalty programs at GM. “Additionally, we’re creating exciting member-exclusive experiences that only GM can provide – such as trackside access at racing events and off-the-grid EV excursions. Cardmembers can use the new GM Rewards Mastercard to earn GM Rewards points from everyday purchases like food, shopping and travel. And you can redeem GM Rewards points towards your next vehicle, for accessories or features to upgrade your vehicle, and for services.” Continue reading →