General Motors Financial (ACF) 8-K GM Financial Reports September Quarter Operating Results

Exhibit 99.1

GM FINANCIAL REPORTS SEPTEMBER QUARTER OPERATING RESULTS

• Earnings of $109 million

• Loan and lease originations of $1.5 billion

• Available liquidity of $1.5 billion

• Annualized net credit losses of 3.0%

FORT WORTH, TEXASNovember 9, 2011 –GENERAL MOTORS FINANCIAL COMPANY, INC.(“GM Financial” or the “Company”) announced net income of $109 million for the quarter ended September 30, 2011, and $282 million for the nine months ended September 30, 2011.

Loan originations were $1.4 billion for the quarter ended September 30, 2011, compared to $1.3 billion for the quarter ended June 30, 2011, and $959 million for the quarter ended September 30, 2010. Loan originations for the nine months ended September 30, 2011, were $3.8 billion, compared to $2.5 billion for the nine months ended September 30, 2010. Finance receivables totaled $9.4 billion at September 30, 2011.

Lease originations of General Motors Company (“GM”) vehicles were $189 million for the quarter ended September 30, 2011, compared to $173 million for the quarter ended June 30, 2011. Lease originations of GM vehicles totaled $672 million for the nine months ended September 30, 2011. Leased vehicles, net, totaled $564 million at September 30, 2011.

Finance receivables 31-to-60 days delinquent were 4.7% of the portfolio at September 30, 2011, compared to 6.2% at September 30, 2010. Accounts more than 60 days delinquent were 1.7% of the portfolio at September 30, 2011, compared to 2.5% a year ago.

Annualized net charge-offs were 3.0% of average finance receivables for the quarter ended September 30, 2011, compared to 5.4% for the quarter ended September 30, 2010. For the nine months ended September 30, 2011, annualized net charge-offs were 3.1%, compared to 5.8% last year.

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The Company had total available liquidity of $1.5 billion at September 30, 2011, consisting of $307 million of unrestricted cash, approximately $860 million of borrowing capacity on unpledged eligible assets and $300 million on a line of credit from GM.

About GM Financial

General Motors Financial Company, Inc. provides auto finance solutions through auto dealers across the United States and Canada. GM Financial has approximately 3,400 employees, 700,000 customers and $10 billion in auto receivables and leases. The Company is a wholly-owned subsidiary of General Motors Company and is headquartered in Fort Worth, Texas. For more information, visit www.americredit.com.

Forward-Looking Statements

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 transition report on Form 10-K/T for the six month period ended December 31, 2010. Such risks include – but are not limited to – variable economic conditions, adverse portfolio performance, volatile wholesale vehicle values, unpredictable leased vehicle residual values and return rates, reliance on warehouse financing and capital markets, the ability to continue to securitize loans, the continued availability of credit enhancement for securitization transactions on acceptable terms, fluctuating interest rates, competition, regulatory and legal changes, the high degree of risk associated with subprime borrowers, 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 the Company’s 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.

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On October 1, 2010, the Company was acquired by General Motors Holdings LLC, a wholly owned subsidiary of General Motors Company. The merger was accounted for under purchase accounting whereby the purchase price of the transaction was allocated to the assets acquired and liabilities assumed based upon fair market values. As a result of the purchase price allocation, the carrying value of GM Financial’s net finance receivables, deferred tax assets, credit facilities, securitization notes payable and uncertain tax positions increased. Additionally, goodwill of approximately $1.1 billion was established on October 1, 2010. The consolidated financial statements as of and for the three and nine months ended September 30, 2011 (labeled “Successor”) reflect the change in basis from the application of purchase accounting. The consolidated financial statements for the periods prior to the merger (labeled “Predecessor”), have been prepared on the same basis as the audited financial statements included in the annual report on Form 10-K for the year ended June 30, 2010.

General Motors Financial Company, Inc.

Consolidated Statements of Income

(Unaudited, Dollars in Thousands)

	Successor				Predecessor
	Three Months Ended September 30, 2011		Nine Months Ended September 30, 2011		Three Months Ended September 30, 2010			Nine Months Ended September 30, 2010
Revenue
Finance charge income	$	348,285	$	907,047	$	342,349		$	1,020,772
Other income		42,396		108,686		30,275			74,630
		390,681		1,015,733		372,624			1,095,402
Costs and expenses
Operating expenses		88,135		249,920		68,855			212,374
Leased vehicles expenses		17,864		39,446		6,539			20,847
Provision for loan losses		50,941		134,935		74,618			198,527
Interest expense		56,295		139,729		89,364			294,678
Acquisition expenses						42,651			42,651
Restructuring charges, net						(39	)		715
		213,235		564,030		281,988			769,792
Income before income taxes		177,446		451,703		90,636			325,610
Income tax provision		68,639		169,840		39,336			125,554
Net income	$	108,807	$	281,863	$	51,300		$	200,056

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Consolidated Balance Sheets

(Unaudited, Dollars in Thousands)

	Successor				Predecessor
	September 30,		December 31,		September 30,
	2011		2010		2010
Assets
Cash and cash equivalents	$	307,215	$	194,554	$	537,529
Finance receivables, net		8,917,970		8,197,324		8,147,086
Restricted cash – securitization notes payable		929,196		926,082		975,942
Restricted cash – credit facilities		124,979		131,438		134,468
Property and equipment, net		46,487		47,290		36,592
Leased vehicles, net		564,103		46,780		54,730
Deferred income taxes		119,017		157,884		77,999
Goodwill		1,107,684		1,094,923
Other assets		190,083		122,463		143,064
Total assets	$	12,306,734	$	10,918,738	$	10,107,410
Liabilities and Shareholder’s Equity
Liabilities:
Credit facilities	$	552,871	$	831,802	$	617,415
Securitization notes payable		6,901,572		6,128,217		6,273,224
Senior notes		500,000		70,054		70,620
Convertible senior notes		500		1,446		419,693
Accounts payable and accrued expenses		194,244		97,169		138,072
Taxes payable		83,231		160,712		70,366
Intercompany taxes payable		245,369		42,214
Interest rate swap agreements		16,050		46,797		60,895
Other liabilities		6,882		10,219		6,504
Total liabilities		8,500,719		7,388,630		7,656,789
Shareholder’s equity		3,806,015		3,530,108		2,450,621
Total liabilities and shareholder’s equity	$	12,306,734	$	10,918,738	$	10,107,410

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Consolidated Statements of Cash Flows

(Unaudited, Dollars in Thousands)

	Successor						Predecessor
	Three Months Ended September 30, 2011			Nine Months Ended September 30, 2011			Three Months Ended September 30, 2010			Nine Months Ended September 30, 2010
Cash flows from operating activities:
Net income	$	108,807		$	281,863		$	51,300		$	200,056
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		31,353			72,397			14,649			50,047
Amortization of purchase accounting premium		(13,007	)		(57,698	)
Amortization of accretable yield		16,853			143,775
Accretion and amortization of loan and leasing fees		(6,996	)		(14,910	)		(942	)		(163	)
Provision for loan losses		50,941			134,935			74,618			198,527
Deferred income taxes		3,303			41,159			452			(68,692	)
Stock-based compensation expense		3,532			9,585			5,019			13,228
Other		(5,968	)		(23,148	)		(8,175	)		(5,157	)
Changes in assets and liabilities:
Other assets		1,699			27,743			16,373			49,813
Accounts payable and accrued expenses		8,721			(500	)		(9,957	)		17,490
Taxes payable		7,795			(79,518	)		1,405			13,311
Intercompany taxes payable		59,214			203,155
Net cash provided by operating activities		266,247			738,838			144,742			468,460
Cash flows from investing activities:
Purchases of receivables		(1,340,610	)		(3,793,696	)		(940,763	)		(2,445,707	)
Principal collections and recoveries on receivables		936,431			2,816,607			883,807			2,709,871
Purchases of leased vehicles		(166,978	)		(584,726	)
Proceeds from termination of leased vehicles		10,956			32,017
Net change in restricted cash and other		(3,801	)		(27,152	)		2,351			(55,221	)
Net cash (used) provided by investing activities		(564,002	)		(1,556,950	)		(54,605	)		208,943
Cash flows from financing activities:
Net change in credit facilities		133,442			(274,040	)		(68,030	)		(179,011	)
Net change in securitization notes payable		33,380			828,527			254,488			(228,946	)
Issuance of senior notes					500,000
Other net changes		(85,397	)		(120,132	)		(21,297	)		(51,879	)
Net cash provided (used) by financing activities		81,425			934,355			165,161			(459,836	)
Net (decrease) increase in cash and cash equivalents		(216,330	)		116,243			255,298			217,567
Effect of Canadian exchange rate changes on cash and cash equivalents		(2,183	)		(3,582	)		(42	)		318
Cash and cash equivalents at beginning of period		525,728			194,554			282,273			319,644
Cash and cash equivalents at end of period	$	307,215		$	307,215		$	537,529		$	537,529

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Other Financial Data

(Unaudited, Dollars in Thousands)

	Three Months Ended September 30, 2011			Nine Months Ended September 30, 2011			Three Months Ended September 30, 2010			Nine Months Ended September 30, 2010
Loan origination volume	$	1,358,115		$	3,845,258		$	959,004		$	2,488,956
GM lease origination volume		188,706			672,417
GM new vehicle loans as % of total loan originations		30.9	%		28.0	%		15.7	%		13.2	%
GM new vehicle loans and leases as % of total loan and lease originations		39.3	%		38.7	%		15.7	%		13.2	%
Loans securitized	$	954,915		$	3,872,703		$	1,164,267		$	2,732,029

	Successor				Predecessor
	Three Months Ended September 30, 2011		Nine Months Ended September 30, 2011		Three Months Ended September 30, 2010		Nine Months Ended September 30, 2010
Average finance receivables	$	9,276,098	$	8,958,549	$	8,718,310	$	8,850,833
Average leased vehicles, net		501,767		305,442		74,704		93,028
Average earning assets	$	9,777,865	$	9,263,991	$	8,793,014	$	8,943,861

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	Successor						Predecessor
	September 30, 2011			December 31, 2010			September 30, 2010
Finance receivables:
Pre-acquisition finance receivables	$	5,076,311		$	7,724,188		$	8,675,575
Post-acquisition finance receivables		4,361,893			923,713
		9,438,204			8,647,901			8,675,575
Add accretable yield:
Pre-acquisition finance receivables		83,006			423,556
Less non-accretable discount on:
Pre-acquisition finance receivables		(451,918	)		(847,781	)
Less allowance for loan losses on:
Post-acquisition finance receivables		(151,322	)		(26,352	)
Pre-acquisition finance receivables								(528,489	)
	$	8,917,970		$	8,197,324		$	8,147,086
Non-accretable discount as a percentage of pre-acquisition finance receivables		8.9	%		11.0	%
Allowance for loan losses as a percentage of post-acquisition finance receivables		3.5	%		2.9	%
Allowance for loan losses as a percentage of pre-acquisition finance receivables								6.1	%

	September 30,			December 31,			September 30,
	2011			2010			2010
Loan delinquency as a percent of ending finance receivables:
31–60 days		4.7	%		6.2	%		6.2	%
Greater than 60 days		1.7			2.4			2.5
Total		6.4	%		8.6	%		8.7	%

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	Three Months Ended September 30, 2011			Nine Months Ended September 30, 2011			Three Months Ended September 30, 2010			Nine Months Ended September 30, 2010
Contracts receiving a payment deferral as an average quarterly percentage of average finance receivables		5.4	%		5.2	%		6.1	%		6.3	%
Net charge-offs	$	69,957		$	209,053		$	119,439		$	387,097
Annualized net charge-offs as a percent of average finance receivables		3.0	%		3.1	%		5.4	%		5.8	%
Net recoveries as a percent of gross repossession charge-offs		55.3	%		54.2	%		46.4	%		46.4	%

Components of net margin:

	Successor						Predecessor
	Three Months Ended September 30, 2011			Nine Months Ended September 30, 2011			Three Months Ended September 30, 2010			Nine Months Ended September 30, 2010
Finance charge income	$	348,285		$	907,047		$	342,349		$	1,020,772
Other income		42,396			108,686			30,275			74,630
Interest expense		(56,295	)		(139,729	)		(89,364	)		(294,678	)
Net margin	$	334,386		$	876,004		$	283,260		$	800,724

Annualized net margin as a percent of average earning assets:

	Successor						Predecessor
	Three Months Ended September 30, 2011			Nine Months Ended September 30, 2011			Three Months Ended September 30, 2010			Nine Months Ended September 30, 2010
Finance charge income and other income		15.9	%		14.6	%		16.8	%		16.4	%
Interest expense		(2.3	)		(2.0	)		(4.0	)		(4.4	)
Net margin		13.6	%		12.6	%		12.8	%		12.0	%

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	Successor						Predecessor
	Three Months Ended September 30, 2011			Nine Months Ended September 30, 2011			Three Months Ended September 30, 2010			Nine Months Ended September 30, 2010
Operating expenses	$	88,135		$	249,920		$	68,855		$	212,374
Annualized operating expenses as a percent of average earning assets		3.6	%		3.6	%		3.1	%		3.2	%

Contact:

Caitlin DeYoung

(817) 302-7394

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