FORT WORTH, Texas--(BUSINESS WIRE)--GENERAL MOTORS FINANCIAL COMPANY, INC. announced net income of $776 million for the quarter ended December 31, 2020, compared to $893 million for the quarter ended September 30, 2020, and $377 million for the quarter ended December 31, 2019. Net income was $2.0 billion for the year ended December 31, 2020 compared to $1.6 billion for the year ended December 31, 2019.

Retail loan originations were $7.6 billion for the quarter ended December 31, 2020, compared to $7.3 billion for the quarter ended September 30, 2020, and $5.5 billion for the quarter ended December 31, 2019. Retail loan originations for the year ended December 31, 2020 were $30.1 billion, compared to $25.1 billion for the year ended December 31, 2019. The outstanding balance of retail finance receivables, net of fees was $51.3 billion at December 31, 2020, compared to $42.3 billion at December 31, 2019.

Operating lease originations were $6.0 billion for the quarter ended December 31, 2020, compared to $5.5 billion for the quarter ended September 30, 2020, and $5.4 billion for the quarter ended December 31, 2019. Operating lease originations for the year ended December 31, 2020 were $19.7 billion, compared to $22.4 billion for the year ended December 31, 2019. Leased vehicles, net was $39.8 billion at December 31, 2020, compared to $42.1 billion at December 31, 2019.

The outstanding balance of commercial finance receivables, net of fees was $9.1 billion at December 31, 2020, compared to $12.1 billion at December 31, 2019.

Retail finance receivables 31-60 days delinquent were 2.1% of the portfolio at December 31, 2020 and 3.2% at December 31, 2019. Accounts more than 60 days delinquent were 0.8% of the portfolio at December 31, 2020 and 1.3% at December 31, 2019.

Annualized net charge-offs were 0.9% of average retail finance receivables for the quarter ended December 31, 2020 and 1.8% for the quarter ended December 31, 2019. For the year ended December 31, 2020, net charge-offs were 1.3%, compared to 1.6% for the year ended December 31, 2019.

The Company had total available liquidity of $27.6 billion at December 31, 2020, consisting of $5.1 billion of cash and cash equivalents, $19.0 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 China were $34 million for the quarter ended December 31, 2020, compared to $46 million for the quarter ended September 30, 2020, and $40 million for the quarter ended December 31, 2019. Earnings for the year ended December 31, 2020 were $147 million, compared to $166 million for the year ended December 31, 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 and full year ended December 31, 2020. This recording, along with the presentation slides and this release, will be posted to the Company’s website on February 10, 2021 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.