General Motors Financial (ACF) 8-K Americredit Reports Second Quarter Operating Results

Exhibit 99.1

AMERICREDIT REPORTS SECOND QUARTER OPERATING RESULTS

• 2^nd quarter net loss of $19 million, $0.17 per share

• Increased loan loss reserves through higher provision for loan losses

• FY08 originations target reduced to $6.5 to $7.0 billion

• FY08 earnings guidance updated

FORT WORTH, TEXAS January 22, 2008 – AMERICREDIT CORP. (NYSE: ACF) today announced a net loss of $19 million, or $0.17 per share, for its second fiscal quarter ended December 31, 2007, versus earnings of $95 million, or $0.74 per share, for the same period a year earlier. For the six months ended December 31, 2007, AmeriCredit reported net income of $43 million, or $0.35 per share, versus earnings of $170 million, or $1.27 per share, for the six months ended December 31, 2006. Operating results include Long Beach Acceptance Corp. since its acquisition on January 1, 2007.

Net income for the three and six months ended December 31, 2006, included a $23 million after-tax gain ($36 million pre-tax), or $0.18 per share and $0.17 per share, respectively, related to the partial sale of AmeriCredit’s investment in DealerTrack Holdings, Inc.

Automobile loan purchases increased to $1.80 billion for the three months ended December 31, 2007, compared to $1.74 billion for the same quarter last fiscal year. Loans purchased for the six months ended December 31, 2007, were $4.19 billion compared to $3.42 billion for the same period a year earlier. Managed receivables totaled $16.35 billion at December 31, 2007, compared to $12.58 billion at December 31, 2006.

Annualized net charge-offs totaled 6.9% of average managed receivables for the December 2007 quarter compared to 5.8% for the December 2006 quarter. For the six months ended December 31, 2007, annualized net charge-offs were 6.2% compared to 5.6% for the same period last year.

Managed receivables 31-to-60 days delinquent were 6.8% of the portfolio at December 31, 2007, compared to 6.7% at December 31, 2006. Accounts more than 60 days delinquent were 3.0% of the portfolio at December 31, 2007, compared to 2.6% a year ago.

“The December quarter was challenging on many fronts, with weaker credit performance and uncertainty in the capital markets. As a result, we have revised our operating plans to align our loan volume with available capital resources,” said AmeriCredit President and Chief Executive Officer Dan Berce. “Over the next several months, we will bring our originations infrastructure and overhead into alignment with our revised originations target.”

Regulation FD

Pursuant to Regulation FD, the Company provides its expectations regarding future business trends to the public via a press release or 8-K filing. The Company anticipates some risks and uncertainties with its business. The Company undertakes no obligations to update its expectations regarding future business trends.

The following net income and earnings per share forecasts and the related assumptions have been updated from guidance provided on October 24, 2007, to reflect changes in the Company’s current business outlook.

Net income and EPS forecasts

	Revised Fiscal year ending June 30, 2008		Previous Fiscal year ending June 30, 2008
Net income ($ millions)	$	170 - $195	$	295 - $320
Earnings per share	$	1.35 - $1.55	$	2.30 - $2.50

The forecasts for fiscal year 2008 incorporate, but are not limited to, the following assumptions:

• New loan origination volume of $6.5 to $7.0 billion;

• Net interest margin of 10.5% to 11.0% of average receivables;

• Operating expenses, excluding depreciation on leased vehicles, of 2.5% to 2.7% of the portfolio;

• Credit losses of between 5.7% and 6.2%; and

• Provision for loan losses as a percent of average receivables of between 5.8% and 6.3%.

AmeriCredit will host a conference call for analysts and investors today at 5:30 P.M. Eastern time. For a live Internet broadcast of this conference call, please go to the Company’s Web site to register, download and install any necessary audio software. For those who cannot listen to the live broadcast, a replay will be available shortly after the call.

About AmeriCredit

AmeriCredit Corp. is a leading independent automobile finance company that provides financing solutions indirectly through auto dealers and directly to consumers in the United States and Canada. AmeriCredit has over one million customers and more than $16 billion in managed auto receivables. The Company was founded in 1992 and is headquartered in Fort Worth, Texas. For more information, visit www.americredit.com.

Except for the historical information contained herein, the matters discussed in this news release include forward-looking statements that involve risks and uncertainties detailed from time to time in the Company’s filings and reports with the Securities and Exchange Commission including the Company’s annual report on Form 10-K for the year ended June 30, 2007. Such risks include – but are not limited to – variable economic conditions, adverse portfolio performance, volatile wholesale vehicle values, reliance on warehouse financing and capital markets, the ability to continue to securitize its loan portfolio, the continued availability of credit enhancement for its securitization transactions on acceptable terms, fluctuating interest rates, increased competition, regulatory changes, the high degree of risk associated with subprime borrowers, acquisition integration and exposure to litigation. These forward-looking statements are based on the beliefs of the Company’s management as well as assumptions made by and information currently available to Company management. Actual events or results may differ materially. It is advisable not to place undue reliance on any forward-looking statements. The Company undertakes no obligation to, and does not, publicly update or revise any forward-looking statements, except as required by federal securities laws, whether as a result of new information, future events or otherwise.

AmeriCredit Corp.

Consolidated Statement of Operations

(Unaudited, Dollars in Thousands, Except Per Share Amounts)

		Three Months Ended December 31,					Six Months Ended December 31,
	2007			2006		2007			2006
Revenue:
Finance charge income	$	612,699		$	502,217	$	1,224,557		$	986,574
Other income		40,137			36,244		80,577			68,049
Servicing income		418			979		794			8,438
Gain on sale of equity investment		—			36,196		—			36,196
		653,254			575,636		1,305,928			1,099,257
Costs and expenses:
Operating expenses		103,084			94,095		208,049			182,383
Depreciation expense – leased vehicles		8,848			—		14,433			—
Provision for loan losses		356,513			174,800		601,158			348,705
Interest expense		214,033			155,860		425,294			299,331
Restructuring charges		(163	)		77		(293	)		386
		682,315			424,832		1,248,641			830,805
(Loss) income before income taxes		(29,061	)		150,804		57,287			268,452
Income tax (benefit) provision		(9,971	)		55,378		14,558			98,790
Net (loss) income	$	(19,090	)	$	95,426	$	42,729		$	169,662
(Loss) earnings per share:
Basic	$	(0.17	)	$	0.82	$	0.37		$	1.41
Diluted	$	(0.17	)	$	0.74	$	0.35		$	1.27
Weighted average shares		114,253,706			115,834,752		114,933,806			120,518,553
Weighted average shares and assumed incremental shares		114,253,706			130,153,556		127,505,633			134,935,826

Consolidated Balance Sheets

(Unaudited, Dollars in Thousands)

	December 31, 2007		June 30, 2007		December 31, 2006
Cash and cash equivalents	$	567,087	$	910,304	$	897,386
Finance receivables, net		15,436,986		15,102,370		11,857,385
Restricted cash – securitization notes payable		994,336		1,014,353		865,591
Restricted cash – credit facilities		175,971		166,884		149,173
Property and equipment, net		60,762		58,572		54,796
Leased vehicles, net		204,558		33,968		—
Deferred income taxes		244,065		151,704		99,657
Goodwill		212,595		208,435		8,914
Other assets		252,952		164,430		180,358
Total assets	$	18,149,312	$	17,811,020	$	14,113,260
Credit facilities	$	2,479,400	$	2,541,702	$	2,400,881
Securitization notes payable		12,368,081		11,939,447		8,907,498
Senior notes		200,000		200,000		—
Convertible debt		750,000		750,000		750,000
Funding payable		49,666		87,474		56,484
Accrued taxes and expenses		240,589		199,059		141,548
Other liabilities		84,438		18,188		14,212
Total liabilities		16,172,174		15,735,870		12,270,623
Shareholders’ equity		1,977,138		2,075,150		1,842,637
Total liabilities and shareholders’ equity	$	18,149,312	$	17,811,020	$	14,113,260

Consolidated Statements of Cash Flows

(Unaudited, Dollars in Thousands)

	Three Months Ended December 31,						Six Months Ended December 31,
	2007			2006			2007			2006
Cash flows from operating activities:
Net (loss) income	$	(19,090	)	$	95,426		$	42,729		$	169,662
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization		20,505			13,419			37,460			19,497
Accretion and amortization of fees		5,904			(6,472	)		10,592			(13,959	)
Provision for loan losses		356,513			174,800			601,158			348,705
Deferred income taxes		(87,740	)		(43,370	)		(63,211	)		42
Stock-based compensation expense		5,520			5,435			12,552			9,321
Gain on sale of available for sale securities		—			(36,196	)		—			(36,196	)
Other		447			(166	)		885			(3,509	)
Changes in assets and liabilities:
Other assets		(41,594	)		39,127			(80,651	)		3,305
Accrued taxes and expenses		77,065			28,699			36,255			(9,829	)
Net cash provided by operating activities		317,530			270,702			597,769			487,039
Cash flows from investing activities:
Purchase of receivables		(1,835,876	)		(1,950,000	)		(4,126,287	)		(3,740,828	)
Principal collections and recoveries on receivables		1,534,023			1,300,174			3,119,836			2,631,281
Distributions from gain on sale Trusts		7,293			16,692			7,466			92,709
Purchases of property and equipment		(3,841	)		(1,937	)		(6,718	)		(3,001	)
Net purchases of leased vehicles		(40,837	)		—			(172,550	)		—
Proceeds from sale of available for sale securities		—			44,300			—			44,300
Net change in restricted cash and other		199,566			1,092,985			3,322			(11,812	)
Net cash (used) provided by investing activities		(139,672	)		502,214			(1,174,931	)		(987,351	)
Cash flows from financing activities:
Net change in credit facilities		267,361			429,786			(66,096	)		294,599
Net change in securitization notes payable		(514,863	)		(1,174,637	)		425,464			386,773
Proceeds from issuance of convertible debt		—			—			—			497,376
Repurchase of common stock		—			—			(127,901	)		(323,964	)
Proceeds from issuance of common stock		3,347			29,206			13,546			43,226
Other net changes		(3,695	)		1,406			(12,759	)		(11,393	)
Net cash (used) provided by financing activities		(247,850	)		(714,239	)		232,254			886,617
Net (decrease) increase in cash and cash equivalents		(69,992	)		58,677			(344,908	)		386,305
Effect of Canadian exchange rate changes on cash and cash equivalents		9			(2,058	)		1,691			(2,159	)
Cash and cash equivalents at beginning of period		637,070			840,767			910,304			513,240
Cash and cash equivalents at end of period	$	567,087		$	897,386		$	567,087		$	897,386

Other Financial Data

(Unaudited, Dollars in Thousands)

	Three Months Ended December 31,							Six Months Ended December 31,
	2007				2006			2007			2006
Origination volume	$	1,804,719			$	1,740,767		$	4,185,936		$	3,424,736
Loans securitized		1,025,651				601,800			3,713,833			2,975,741
Average on-book receivables	$	16,409,662			$	12,392,922		$	16,298,629		$	12,173,441
Average gain on sale receivables		6,462				58,069			14,137			181,432
Average managed receivables	$	16,416,124			$	12,450,991		$	16,312,766		$	12,354,873
	December 31, 2007				June 30, 2007			December 31, 2006
On-book receivables	$	16,352,204			$	15,922,458		$	12,548,925
Gain on sale receivables		—				24,091			34,083
Managed receivables	$	16,352,204			$	15,946,549		$	12,583,008
	Three Months Ended December 31,							Six Months Ended December 31,
	2007				2006			2007			2006
Operating expenses	$	103,084			$	94,095		$	208,049		$	182,383
Annualized operating expenses as a percent of average managed receivables		2.5	%			3.0	%		2.5	%		2.9	%
				��
Tax rate		34.3	%			36.7	%		25.4	%		36.8	%
	December 31, 2007				June 30, 2007			December 31, 2006
Loan delinquency:
On-book:
(% of ending on-book receivables)
31 - 60 days		6.8	%			4.7	%		6.7	%
Greater than 60 days		3.0				2.1			2.6
Total		9.8	%			6.8	%		9.3	%
Managed portfolio:
(% of ending managed receivables)
31 - 60 days		6.8	%			4.7	%		6.7	%
Greater than 60 days		3.0				2.1			2.6
Total		9.8	%			6.8	%		9.3	%

	Three Months Ended December 31,						Six Months Ended December 31,
	2007			2006			2007			2006
Contracts receiving a payment deferral as an average quarterly percentage of average receivables outstanding:
On-book (% of average on-book receivables)		6.8	%		6.8	%		6.4	%		6.5	%
Managed portfolio (% of average managed receivables)		6.8	%		6.7	%		6.4	%		6.5	%
	Three Months Ended December 31,						Six Months Ended December 31,
	2007			2006			2007			2006
Net charge-offs:
On-book	$	286,146		$	183,153		$	506,137		$	345,017
Managed portfolio:	$	286,162		$	183,437		$	506,175		$	349,833
Annualized net charge-offs as a percent of average receivables:
On-book		6.9	%		5.9	%		6.2	%		5.6	%
Managed portfolio:		6.9	%		5.8	%		6.2	%		5.6	%
Annualized net recoveries as a percent of gross repossession charge-offs:
On-book		43.9	%		48.8	%		46.0	%		48.8	%
Managed portfolio:		43.9	%		48.8	%		46.1	%		48.7	%
	December 31, 2007			June 30, 2007			December 31, 2006
On-book receivables:
Principal	$	16,352,204		$	15,922,458		$	12,548,925
Allowance for loan losses and nonaccretable acquisition fees		(915,218	)		(820,088	)		(691,540	)
	$	15,436,986		$	15,102,370		$	11,857,385
Allowance as a percentage of on-book receivables		5.6	%		5.2	%		5.5	%

The Company’s net margin as reflected on the consolidated statement of operations is as follows:

	Three Months Ended December 31,						Six Months Ended December 31,
	2007			2006			2007			2006
Finance charge income	$	612,699		$	502,217		$	1,224,557		$	986,574
Other income		40,137			36,244			80,577			68,049
Interest expense		(214,033	)		(155,860	)		(425,294	)		(299,331	)
Net margin	$	438,803		$	382,601		$	879,840		$	755,292
	Three Months Ended December 31,						Six Months Ended December 31,
	2007			2006			2007			2006
Finance charge income		14.8	%		16.1	%		14.9	%		16.1	%
Other income		1.0			1.1			1.0			1.1
Interest expense		(5.2	)		(5.0	)		(5.2	)		(4.9	)
Annualized net margin as a percent of average on-book receivables		10.6	%		12.2	%		10.7	%		12.3	%

The following table provides additional information for comparative purposes related to the Company’s acquisition of Long Beach Acceptance Corp. (“LBAC”) on January 1, 2007:

	Three Months Ended December 31, 2007						Six Months Ended December 31, 2007
	Total Company Excluding LBAC			Total			Total Company Excluding LBAC			Total
Origination volume	$	1,601,136		$	1,804,719		$	3,710,118		$	4,185,936
Average managed receivables	$	14,333,313		$	16,416,124		$	14,236,416		$	16,312,766
Net charge-offs	$	262,521		$	286,162		$	465,898		$	506,175
Annualized net charge-offs as a percent of average receivables		7.3	%		6.9	%		6.5	%		6.2	%
Contracts receiving a payment deferral as an average quarterly percentage of average receivables outstanding		7.3	%		6.8	%		6.9	%		6.4	%
Net margin	$	409,661		$	438,803		$	818,112		$	879,840
Annualized net margin as a percent of average on-book receivables		11.3	%		10.6	%		11.4	%		10.7	%
	December 31, 2007
	Total Company Excluding LBAC			Total
Managed receivables	$	14,276,457		$	16,352,204
Loan delinquency:
(% of ending managed receivables)
31 - 60 days		7.0	%		6.8	%
Greater than 60 days		3.2			3.0
Total		10.2	%		9.8	%
Allowance as a percentage of on-book receivables		5.9	%		5.6	%

Contact:

Investor Relations	Media Relations
Caitlin DeYoung	John Hoffmann
(817) 302-7394	(817) 302-7627