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Front Office: A message from Kyle Birch

Published June 22, 2012

Dear GM Dealer,

GM Financial started off 2012 with a strong first quarter. We had approximately $1.8 billion in new loan and lease originations and earned $112 million in net income, giving us a solid foundation for the remainder of the year. About 30 percent of new vehicle originations were for GM vehicles, and GM's subprime loan penetration of 8.2 percent for the quarter increased from 6.1 percent a year ago, and is well above the industry average of 6.0 percent. U.S. lease origination volume increased to $272 million from $183 million last quarter. The increase in our lease volume is consistent with our strategy of building and maintaining a lease platform with sufficient scale to support our GM dealer customers.

In April we held our first GM Financial Dealer Council meeting of 2012. The purpose of this forum is to meet with a mix of GM dealers from across the country and GM management to help us gather information which will help GM Financial prioritize our efforts as we look to improve our relationships with dealers nationwide. As a result of hearing from you, we are now working on improving response times, developing end-of-lease communications and continuing to focusing on making GM Financial the preferred auto finance partner for all GM dealerships.

We look forward to communicating more information about these initiatives throughout the year.

Sincerely,

Kyle Birch
Kyle Birch
EVP Dealer Services
GM Financial

*As used in this article, "loans" include retail installment sale contracts originated by dealers and purchased by the company.

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