Just over half of all loans and leases written by GM Financial in the US were on General Motors (GM) vehicles in the first quarter of 2013, up from 44.6% for the same period of the previous year.
It is also the first time GM vehicles have accounted for more than 50% of the GM Financial portfolio since the manufacturer restarted its captive finance arm in 2010.
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Since then, while GM Financial has reacquired much of its international business from Ally Financial and solidified arrangements with Chrylser and Vauxhall-Opel in Europe and the UK, the firm has added prime and subprime leasing and wholesale finance for dealers to its portfolio in the US.
It expects to begin offering prime loans – which Dan Berce, GM Financial chief executive called the "last remaining hole" in its portfolio – in early 2014.
richard.brown@timetric.com
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