FORT WORTH, Texas--(BUSINESS WIRE)--GENERAL MOTORS FINANCIAL COMPANY, INC. announced net income of $893 million for the quarter ended September 30, 2020, compared to $173 million for the quarter ended June 30, 2020, and $516 million for the quarter ended September 30, 2019. Net income was $1.2 billion for both the nine months ended September 30, 2020 and 2019.

Retail loan originations were $7.3 billion for the quarter ended September 30, 2020, compared to $8.7 billion for the quarter ended June 30, 2020, and $5.4 billion for the quarter ended September 30, 2019. Retail loan originations for the nine months ended September 30, 2020 were $22.5 billion, compared to $19.7 billion for the nine months ended September 30, 2019. The outstanding balance of retail finance receivables, net of fees was $48.7 billion at September 30, 2020, compared to $42.3 billion at December 31, 2019 and $42.0 billion at September 30, 2019.

Operating lease originations were $5.5 billion for the quarter ended September 30, 2020, compared to $3.2 billion for the quarter ended June 30, 2020, and $5.8 billion for the quarter ended September 30, 2019. Operating lease originations for the nine months ended September 30, 2020 were $13.7 billion, compared to $17.0 billion for the nine months ended September 30, 2019. Leased vehicles, net was $39.4 billion at September 30, 2020, compared to $42.1 billion at December 31, 2019 and $42.5 billion at September 30, 2019.

The outstanding balance of commercial finance receivables, net of fees was $8.5 billion at September 30, 2020, compared to $12.1 billion at December 31, 2019 and $13.3 billion at September 30, 2019.

Retail finance receivables 31-60 days delinquent were 2.1% of the portfolio at September 30, 2020 and 3.0% at September 30, 2019. Accounts more than 60 days delinquent were 0.8% of the portfolio at September 30, 2020 and 1.2% at September 30, 2019.

Annualized net charge-offs were 1.2% of average retail finance receivables for the quarter ended September 30, 2020 and 1.6% for the quarter ended September 30, 2019. Annualized net charge-offs were 1.5% for both the nine months ended September 30, 2020 and 2019.

The Company had total available liquidity of $29.1 billion at September 30, 2020, consisting of $4.7 billion of cash and cash equivalents, $20.9 billion of borrowing capacity on unpledged eligible assets, $0.5 billion of borrowing capacity on committed unsecured lines of credit, $1.0 billion of borrowing capacity on the Junior Subordinated Revolving Credit Facility from GM, and $2.0 billion of borrowing capacity on the GM Revolving 364-Day Credit Facility.

Earnings resulting from the Company's equity investment in joint ventures that conduct automotive finance operations in the Asia/Pacific region were $46 million for the quarter ended September 30, 2020, compared to $42 million for the quarter ended June 30, 2020, and $39 million for the quarter ended September 30, 2019. Earnings for the nine months ended September 30, 2020 were $113 million, compared to $126 million for the nine months ended September 30, 2019.

About GM Financial

General Motors Financial Company, Inc. is the wholly-owned captive finance subsidiary of General Motors Company and is headquartered in Fort Worth, Texas. In lieu of a conference call, management recorded remarks addressing the Company’s results of operations for the quarter ended September 30, 2020. This recording, along with the presentation slides and this release, will be posted to the Company’s website on November 5, 2020 by 11:00 a.m. central time. The recording and materials can be accessed via the Investor Relations section of the Company’s website at https://investor.gmfinancial.com.