GM, Ford Credit Arms May Lose Billions on Car-Price Plunge [Yahoo! Finance News]
General Motors Company (GM)
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Source: Yahoo! Finance News
) -- General Motors Co. and Ford Motor Co.’s finance arms likely face multibillion-dollar losses linked to the dramatic drop in used-vehicle prices, JPMorgan Chase & Co. analysts said.Prices are falling faster and steeper than JPMorgan was expecting, lead analyst Ryan Brinkman wrote in a report Monday, citing mid-month data from Manheim. The auto-auction firm’s closely watched used vehicle value index plunged 11.8% in the first 15 days of April, a decline that will easily set a record if it holds for the full month.“The real losers of the development are likely the captive-finance subsidiaries of automakers like GM and Ford, and the rental-car companies,” Brinkman wrote. If prices finish the second quarter 10% lower than envisioned, he estimates losses could total $3 billion at GM Financial and $2.8 billion at Ford Credit.The spread of the coronavirus has caused a major dislocation in the $1.5 trillion used-car market. Physical auctions have been halted for weeks along with much of th
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GM
Earnings
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Sec Filings
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- 11/10/25 - Form SCHEDULE
- 10/30/25 - Form 4
- GM's page on the SEC website