GM Financial Reports December Quarter Operating Results

FORT WORTH, TX--February 23, 2011: GENERAL MOTORS FINANCIAL COMPANY, INC. GM Financial or the Company, announced net income of $75 million for the quarter ended December 31, 2010. Net income for the quarter was impacted by $16 million of expenses directly related to the acquisition of the Company by General Motors Company.

Loan originations were $935 million for the quarter ended December 31, 2010, compared to $959 million for the quarter ended September 30, 2010 and $379 million for the quarter ended December 31, 2009. Financing for new GM vehicles accounted for 18.1% of total loan originations for the quarter ended December 31, 2010, compared to 15.7% for the quarter ended September 30, 2010 and 10.8% a year ago. Finance receivables totaled $8.6 billion at December 31, 2010.

Annualized net charge-offs were 5.5% of average finance receivables for the quarter ended December 31, 2010, compared to 8.9% for the quarter ended December 31, 2009.

Finance receivables 31-to-60 days delinquent were 6.2% of the portfolio at December 31, 2010, compared to 7.7% at December 31, 2009. Accounts more than 60 days delinquent were 2.4% of the portfolio at December 31, 2010, compared to 3.7% a year ago.

The Company had total available liquidity of $767 million at December 31, 2010, consisting of $195 million of unrestricted cash, approximately $272 million of borrowing capacity on unpledged eligible receivables and $300 million on a line of credit from GM. During the quarter, the Company used available cash to retire $463 million of convertible senior notes and senior notes in connection with the Company’s acquisition by GM.