GM Financial earnings before tax were $300m (£195m) in Q2 2013, up from $200m for the same period in 2012, according to General Motors’ (GM) half-year report.
Overall, GM’s Revenue for the quarter was $39.1bn, up from $37.6bn for the same period in 2012. Earnings before interest and tax also rose to $2.3bn, from $2.1bn in 2012.
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GM Financial has begun rebuilding itself as an international financing operation following GM’s reacquisition of many branches of Ally Financial over the past 12 months, including an initial rise in earnings in 2012.
In the first quarter of 2013, GM Financial announced the majority of loans and leases it was writing were on GM vehicles and announced plans to double its portfolio.
The company was also confirmed as the captive finance partner to Vauxhall in the UK and Opel in continental Europe in May while several senior executives at GM were promoted or moved in a management-level reshuffle at the start of July.
