General Motors Looking To Double GM Financial Earnings0
General Motors sees a significant growth potential for its captive finance arm, GM Financial.
In an interview with Bloomberg TV’s David Westin, General Motors CFO Chuck Stevens revealed that, despite growing its leasing business, GM Financial’s biggest growth opportunity lies in the United States market, since the subsidiary is already near or at full captive penetration levels in international markets.
But in the U.S., GM Financial had 30 percent penetration (leasing or financing) of GM retail deliveries in 2015, a number that the automaker is looking to grow to 50-55 percent over the next several years. That growth should enable the captive to double its earnings, which were $800 million in 2015 and $800 million in 2014.
- Sweepstakes Of The Month: Win a 2023 Corvette Z06 Convertible. Details here.