GMAC Financial Services Reports Preliminary Fourth Quarter and Full-Year 2009 Financial Results
Feb 4, 2010
- Fourth quarter net loss of $5.0 billion; full-year net loss of $10.3 billion - Fourth quarter net loss from continuing operations of $3.9 billion; full-year net loss from continuing operations of $8.0 billion - Strategic actions expected to reduce further effects from the legacy mortgage business - Strengthened suppo ... Continue reading
GM Certified Used Vehicles Offers Nationwide 3.9% GMAC Financing on Pontiac G6
Feb 4, 2010
Attractive Financing for Terms up to 60 Months Offered for Qualified Buyers DETROIT February 3, 2010; GM Certified Used Vehicles, a leading manufacturer-certified used vehicle brand, today announced a new nationwide incentive program on all GM Certified Pontiac G6 models. Effective February 2 â March 31, GMAC Fina ... Continue reading
Ford Credit Earns $1.3 Billion in 2009*
Jan 28, 2010
Fourth Quarter 2009 Earnings of $440 Million Reported DEARBORN, Mich., Jan. 28 -- Ford Motor Credit Company reported net income of $1.3 billion in 2009, an improvement of $2.8 billion from a net loss of $1.5 billion a year earlier. On a pre-tax basis, Ford Credit earned $2 billion in 2009, compared with a loss of $2.6 ... Continue reading
Jan 28, 2010
DEARBORN, Mich., Jan. 28 -- -- Full year net income of $2.7 billion, or 86 cents per share, a $17.5 billion improvement from a year ago. Pre-tax operating profits of $454 million, a $7.3 billion improvement from a year ago++ -- Fourth quarter net income of $868 million, or 25 cents per share, a $6.8 billion improvement ... Continue reading
Car Buyers See Signs of Thaw in Lending
Jan 6, 2010
Washington DC January 6, 2010; The AIADA newsletter reported that for car buyers, four words mean the difference between going home in a new sedan or their old clunker: Your loan is approved. According to MSNBC, they are being uttered more often these days, spurred by a trillion-dollar government program that provides ... Continue reading
Miss-Managed by Insiders GMAC, To Get Another $3.5B of U.S. Taxpayer Money - Time To get Mad We Say
Dec 30, 2009
NEW YORK â GMAC Financial Services is expected to receive $3.5 billion more in federal aid to further stabilize the automotive lender, The Wall Street Journal reported Tuesday. The announcement is expected within days and would coincide with GMAC taking more steps to absorb losses related to its mortgage operation ... Continue reading
Chris Liddell Named GM Vice Chairman and CFO
Dec 21, 2009
DETROIT, Dec. 21 -- Chris Liddell has been appointed General Motors vice chairman and chief financial officer, it was announced today. Liddell was most recently CFO for Microsoft Corp., a post he held since May 2005. "Chris brings a depth and experience to this job that were unmatched in our search for a new financial ... Continue reading
Dec 17, 2009
WASHINGTON, Dec. 16 /PRNewswire-USNewswire/ -- As the new vehicle sales tax deduction nears its expiration date, shoppers looking to take advantage of the incentive should familiarize themselves with vehicle financing, says the Americans Well-informed on Auto Retailing Economics (AWARE). The Internal Revenue Service an ... Continue reading
Nationwide Insurance Introduces New iPhone App for Car Shopping
Dec 16, 2009
COLUMBUS, Ohio--Nationwide Insurance is introducing CartopiaSM, a free iPhoneTM app for car shopping that also works on the iPod Touch®. The new app helps car shoppers access unbiased information on specific cars from multiple reliable sources to help choose the new or used car thatâs right for them. The app is ... Continue reading
U.S. Automotive Lending Industry Showing Signs of Stabilization, According to Experian Automotive
Dec 9, 2009
Growth rate for 30-day loan delinquencies is slowing, average credit scores for new and used vehicle loans rising, loan terms shortening SCHAUMBURG, Ill., Dec. 9 -- Despite continued economic struggles, the automotive lending industry in the U.S. showed signs of stabilization during the third quarter of 2009, according ... Continue reading
Dec 8, 2009
Terrence O'Loughlin to join CCFL Board in January DAYTON, Ohio, Dec. 8 -- Reynolds and Reynolds announced today that Terrence O'Loughlin, director of compliance for Reynolds and Reynolds, has been elected to the Governing Board of the Conference on Consumer Finance Law (CCFL). CCFL is a national, nonprofit institution ... Continue reading
When Shopping for Auto Show Deals, Review Vehicle Financing Basics, Says AWARE
Nov 12, 2009
For Immediate Release Contact: Eric Hoffman 202-585-2808 eric.hoffman@autofinancing101.org When Shopping for Auto Show Deals, Review Vehicle Financing Basics, Says AWARE WASHINGTON November 12, 2009 - The auto show season is an exciting time for auto buffs and families alike. In addition to providing fun and entertainm ... Continue reading
Nov 9, 2009
NEW YORK--Willkie Farr & Gallagher LLP today announced that Matthew A. Feldman has rejoined the firm after serving as the Chief Legal Advisor to the Obama administrationâs Presidential Task Force on the Auto Industry. Mr. Feldman was recruited to join the Auto Team at the United States Treasury to help develop the ... Continue reading
Why is GMAC Paying Dividends While It Begs the Taxpayer for Money?
Oct 29, 2009
Special from Cody Willard's The Cody Word Marketwatch.com Let me get this straight: GMAC, which was owned by private equity gambling firm Cerberus (which is run by former Goldman dudes and even Dan Quayle), used to be the lending and banking and gambling arm of GM. The company was founded in 1919 to help finance cars f ... Continue reading
TransUnion.com: National Auto Loan Delinquency Rates Continued To Fall In Second Quarter 2009
Sep 1, 2009
TransUnion.com released today the results of its analysis of trends in the auto lending industry for the second quarter of 2009. The report is part of an ongoing series of quarterly consumer lending sector analyses focusing on credit card, auto loan and mortgage data available on TransUnion's Web site at www.transunion ... Continue reading
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