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Equipment Finance News GM Financial results hold steady Published: 25th July 2016 Share GM Financial, General Motors’ captive subsidiary, has announced net income of $189 million for the quarter ended June 30, 2016, compared to $186 million for the quarter ended June 30, 2015. Net income for six months ended June 30, 2016 was $353 million, compared to $336 million for the six months ended June 30, 2015. Consumer loan and lease originations in the June quarter totalled $10.7 billion, made up of $4.2 billion in loans and $6.5 billion in leases. Leased vehicles, net was $28.4 billion at June 30, 2016. Retail loan originations for the six months ended June 30, 2016 were $8.3 billion, compared to $8.4 billion for the six months ended June 30, 2015. Operating lease originations for the six months ended June 30, 2016 were $13.3 billion, compared to $8.6 billion for the six months ended June 30, 2015. The outstanding balance of commercial finance receivables was $9.4 billion at June 30, 2016 compared to $9.2 billion at March 31, 2016 and $7.8 billion at June 30, 2015. Retail finance receivables 31-60 days delinquent were 3.4% of the portfolio at June 30, 2016 and 3.6% at June 30, 2015. Accounts more than 60 days delinquent were 1.5% of the portfolio at June 30, 2016 and 1.6% at June 30, 2015. The lender had total available liquidity of $15.4 billion at June 30, 2016, consisting of $3.1 billion of cash and cash equivalents, $10.7 billion of borrowing capacity on unpledged eligible assets, $0.6 billion of borrowing capacity on committed unsecured lines of credit and $1 billion of borrowing capacity on a junior subordinated revolving credit facility from GM. Additionally, earnings resulting from the company’s equity investment in SAIC-GMAC, a joint venture that conducts auto finance operations in China, were $37 million for the three months ended June 30, 2016 compared to $28 million for the three months ended June 30, 2015. Earnings for the six months ended June 30, 2016 were $73 million, compared to $56 million for the six months ended June 30, 2015. Pat Sweet Correspondent - Asset Finance Connect Sign up to our newsletter Featured Stories NewsEvolving roles of banks and independents in US Corporate Member NewsAssociated Asphalt secures funding from Paragon Bank NewsDutch leasing market sees robust growth in H1 2024 Equipment Finance