Credit Woes Continue To Plague GMAC

05 May 2009

Credit problems continue to plague GMAC, with a first-quarter loss of $675 million, compared with $589 million a year ago.

Credit problems continue to plague GMAC, with a first-quarter loss of $675 million, compared with $589 million a year ago. Accounting for part of its troubles is an increase in net charge-offs on auto loans from 1.57% in North America to 2.91% and from 0.74% internationally to 1.08%. ...

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