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General Motors Financial Company, Inc. is the financial services arm of General Motors.The company is a global provider of auto finance, with operations in the United States, Latin America, Canada, Europe (which was sold to PSA Groupe and BNP Paribas following the sale of GM's core area businesses Opel and Vauxhall in a $2.2 billion deal), and China.
June 19, 2009: Deadline for filing all objections to the sale of General Motors. June 22, 2009: Deadline for making competing bids in the auction of General Motors' assets. June 25, 2009: Final hearing on the bankruptcy loan. July 10, 2009: Deadline for completion of the sale, requested by the U.S. Treasury and General Motors. [9] [10]
General Motors' (GM) automotive liquidity come in above target at $37.8 billion at the end of Q3.
General Motors was financially vulnerable before the automotive industry crisis of 2008–2010. In 2005, the company posted a loss of US$10.6 billion (~$15.9 billion in 2023). [17] In 2006, its attempts to obtain U.S. government financing to support its pension liabilities and also to form commercial alliances with Nissan and Renault failed.
Despite a small dip in U.S. vehicle sales, General Motors' first-quarter net income rose more than 25% on strong deliveries of pickup trucks and other higher-profit vehicles. GM on Tuesday said it ...
On February 18, 2009, General Motors and Chrysler again approached the U.S. government, in regard to obtaining a second bridging loan of $21.6 billion (£15.2 billion). $16.6 billion of this would go to General Motors, while Chrysler would take $5 billion. General Motors agreed to shed 47,000 jobs, close five plants, and axe 12 car models.
While average full coverage car insurance rates increased by $289 last year, this is less than the $336 jump from 2023 to 2024 — and experts think 2025 increases will be even more moderate.
The automotive industry was weakened by a substantial increase in the prices of automotive fuels [2] linked to the 2003–2008 energy crisis which discouraged purchases of sport utility vehicles (SUVs) and pickup trucks which have low fuel economy. [3]