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GM’s car finance shows profitability

GM’s recently re-acquired car finance company, General Motors Financial Co., has posted net income profits rose 62 per cent in the fourth quarter of 2010 due to putting less money aside for loan losses.

GM’s recently re-acquired car finance company, General Motors Financial Co., has posted net income profits rose 62 per cent in the fourth quarter of 2010 due to putting less money aside for loan losses.

According to the figures, the car finance company earned $74.6 million which is up from $46 million from the figure posted a year previous.
It is good news for the company as the history of GM’s finance arm doesn’t make for happy reading. But perhaps 2011 will be a good year for GM and a good year for car finance.

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