GMAC: ResCap issues to be resolved in '09 Nov 5, 2009
The Detroit-based company s global automotive finance division saw its net income increase to $395 million in the third quarter. In the same period last year, the division lost $379 million. (Twin Cities Business Journal, MN)
Carmakers keen on auto finance arms Nov 3, 2009
In August 2004, the first auto financing company, GMAC-SAIC Automotive Finance Co Ltd, established by General Motors Acceptance Corp and Shanghai Automotive Group Finance Corp, began operations in China. The company has provided financial services to more than 225,000 consumers in China for purchasing GM vehicles. (Xinhuanet, China)
Delinquencies soar in Hawaii car loans Sep 11, 2009
"Challenging economic times continue to take a toll on the automotive finance world," said Scott Waldron, president of Experian Automotive, a Experian plc, one of the largest credit bureaus. "As the recession continued to drag on during the second quarter, the rate of delinquency rose much faster from the first to the second quarter than it did the previous year.". (Honolulu Advertiser)
Survey shows US automakers making improvements Aug 18, 2009
Industry-wide declines in overall dealer satisfaction point to a need for improved service from automotive finance lenders, according to the J.D. Power and Associates 2009 Dealer Financing Satisfaction Study(SM) released today. Overall dealer satisfaction with lenders has decreased considerably from 2008 in all four segments examined in the study. (Fresno Bee -- Business)
Correction: GMAC earnings story Aug 8, 2009
Place an obit: (559) 441-6228. Web Search powered by YAHOO. (Fresno Bee -- Business)
Land Of The Ad-dead Jul 7, 2009
Tuesday, July 07, 2009 Last Update: 05:25 AM EDT. DOUBLE-DIGIT DECLINE FORECAST FOR NORTH AMERICA. (New York Post -- Business)
GMAC Financial Services Announces Key Capital and Liquidity Actions May 22, 2009
GMAC previously announced an agreement with Chrysler to provide automotive finance products and services to Chrysler dealers and customers ... Providing relief on these restrictions will enable GMAC to have more funding available for a majority of its automotive finance assets, which provides a sustainable long-term funding channel for the business ... GMAC specializes in automotive finance, mortgage operations, insurance, commercial finance and online banking. (PR Newswire)
GMAC loss grows May 6, 2009
Income from the automotive finance and insurance segments fell. GMAC has been battered over the last year, as the collapse in the housing and auto markets battered its traditionally lucrative home and vehicle loan business. (Globe and Mail -- Business)
GMAC posts $675M loss in 1Q May 6, 2009
The Detroit-based company s global automotive finance division saw its net income drop to $225 million in the first quarter from $258 million a year earlier. The results were driven primarily by weaker credit performance, which was partially offset by lower interest expenses. (Charlotte Business Journal, NC)
Cars pile up after burst bubble Apr 3, 2009
"Consumers felt good about their future," said Mark Pregmon, a SunTrust Bank executive and chairman of the automotive finance committee of the Consumer Bankers Association. "It was riding the wave of the 'go' economy. Stocks were rising. Equity in houses was rising. People felt they could just borrow off their house. Their house was their ATM machine.". (Huntington WSAZ-TV, WV)
Atlanta competing for GMAC headquarters Mar 14, 2009
GMAC also has an automotive finance facility in Duluth and a personal insurance facility at Georgia 400 and Abernathy Road. The company employs about 250 people across metro Atlanta, a spokeswoman said. (Atlanta Business Chronicle, GA)
US giant puts up $5m to trap hackers Mar 5, 2009
must have automotive finance background ... must have automotive finance experience. (Yahoo News -- Computer Viruses & Worms)
GMAC Financial Services Appoints Jeffrey Brown as Corporate Treasurer Mar 4, 2009
GMAC specializes in automotive finance, real estate finance, insurance, commercial finance and online banking. As of Dec. 31, 2008, the organization had $189 billion in assets and serviced 15 million customers around the world. (PR Newswire)
Online gambling firm in talks with rival Feb 16, 2009
finance manager central auto group automotive finance manager central auto group is in need of an additional experienced finance manager. excellent compensation. (Yahoo News -- Gambling & Lottery)
GM in Talks With China's SAIC to Raise Cash-Sources Feb 12, 2009
In addition to their passenger car tie-up, GM and SAIC have seven other joint ventures in China, including an automotive finance company modeled after GMAC and a version of GM's OnStar navigation service for the Chinese market. In the early stages of the talks, GM signaled a willingness to consider selling other assets in China to SAIC, according to one of those with knowledge of the talks. (ABC News -- Wire)
Japan wants yen to be the anchor of Asia Feb 9, 2009
automotive finance manager do you need deals. too slow at your current store. (Yahoo News -- Asian Economy)
