GM Financial is making plans to roll out a prime retail program early next year because of heightening competition.The program is targeted at dealers that the company already has relationships with. Their strategy is to first and foremost support GM vehicle sales. GM Financial also reported that its first-quarter net income has one down from the previous year from $112 million to $106 million. Consumer delinquency behavior had a large part in the decrease of the overall net income. GM Financial also announced today that they intend to offer $2 billion aggregate principal amount of senior notes in various branches. The goal is to repay certain indebtedness to General Motors and for general working capital purposes. The notes will be offered only to qualified institutional buyers.
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