2
Safe Harbor Statement
This presentation contains several “forward-looking statements.” Forward-looking statements are those that use words
such as “believe,” “expect,” “intend,” “plan,” “may,” “likely,” “should,” “estimate,” “continue,” “future” or "anticipate" and
other comparable expressions. These words indicate future events and trends. Forward-looking statements are our
current views with respect to future events and financial performance. These forward-looking statements are subject to
many assumptions, risks and uncertainties that could cause actual results to differ significantly from historical results or
from those anticipated by us. The most significant risks are detailed from time to time in our filings and reports with the
Securities and Exchange Commission, including
our Annual Report on Form 10-K for the year ended December 31,
2016. Such risks include - but are not limited to - GM’s ability to sell new vehicles that we finance in the markets we
serve in North America, Latin America, China and Europe, particularly the United Kingdom where automobile sales may
be negatively impacted due to the passage of the referendum to discontinue its membership in the European Union; the
viability of GM-franchised dealers that are commercial loan customers; the availability and cost of sources of financing;
the level of net charge-offs, delinquencies and prepayments on the loans and leases we originate; the effect,
interpretation or application of new or existing laws, regulations, court decisions and accounting pronouncements; the
prices at which used cars are sold in the wholesale
auction markets; vehicle return rates and the residual value
performance on vehicles we lease; interest rate and currency exchange rate fluctuations; competition; our ability to
manage risks related to security breaches and other disruptions to our networks and systems; changes in general
economic and business conditions; and changes in business strategy, including expansion of product lines and credit risk
appetite, acquisitions and divestitures. If one or more of these risks or uncertainties materialize, or if underlying
assumptions prove incorrect, actual events or results may vary materially from those expected, estimated or projected. It
is advisable not to place undue reliance on our forward-looking statements. We undertake no obligation to, and do not,
publicly update or revise any forward-looking statements, except as required by federal securities laws, whether as a
result of new
information, future events or otherwise.
3
GM Financial Company Overview
GM Financial’s overall objective is to support GM vehicle sales while
achieving appropriate risk-adjusted returns
GM Financial (GMF) is General
Motors’ global captive finance
company
Earning assets of $79B, with
operations in more than 20 countries
− Offering auto finance products to
16,000 dealers worldwide
− GM Financial’s global footprint covers
over 85% of GM’s worldwide sales
GM Financial is a strategic
business for GM and well positioned for profitable
growth and contribution to overall enterprise value
North American segment
International segment
6
Strong Operating Results
$815 $837
$913
CY-14 CY-15 CY-16
Pre-tax Income ($M)
North America (NA) International (IO)
$21.3
$37.7
$43.4
CY-14 CY-15 CY-16
Origination Volume ($B)
NA Retail Loans NA Retail Leases
IO Retail Loans IO Retail Leases
3.2%
2.7%
2.2%
CY-14 CY-15 CY-16
Operating Expense Ratio
1.8% 1.9%
2.0%
CY-14 CY-15 CY-16
Net Charge-offs on Loans
7
Solid Balance Sheet
Tangible net worth is net of accumulated losses on foreign exchange translation
‒ Accumulated other comprehensive loss related to FX of $1.2B at December 31, 2016
Year-over-year leverage increase consistent with earning asset expansion in higher credit quality
tiers and within the applicable level of the Support Agreement
1. Calculated consistent with GM/GMF Support Agreement, filed on Form 8-K with the Securities and Exchange Commission on
September 4, 2014.
$40.8
$57.7
$78.6
Dec-14 Dec-15 Dec-16
Ending Earning Assets ($B)
Retail Loans Commercial Loans Retail Leases
Dec-14 Dec-15 Dec-16
Liquidity ($B)
Borrowing capacity Cash
$9.3
$14.7 $14.2
6.5x
8.3x
10.4x
Dec-14 Dec-15 Dec-16
Leverage Ratio1
$6.1
$6.9
$7.5
Dec-14 Dec-15 Dec-16
Tangible Net Worth ($B)
8
Earning Assets Composition
Earning assets evolving to more
captive-like mix with over 85% of
earning assets related to financing GM
new vehicles
Portfolio shifting to predominantly
higher credit quality assets
− Sub-prime loan portfolio (<620 FICO)
represented approximately 13% of ending
earning assets at December 31, 2016
Earning asset expansion in North
America aligns with GM’s geographic
sales
footprint
Lease 13%
Lease 13%
$78.6B
At December 31, 2016
Earning assets composition is shifting towards full captive state
Latin America
Commercial
2%
Latin America
Retail 6%
Europe
Commercial
4%
Europe
Retail 8%
North America
Commercial
8%
North America
Lease 44%
North America
Retail 28%
9
AMCAR – U.S. sub-prime retail loan ECARAT U.K. – retail loan
GMALT – U.S. lease ECARAT Germany – retail loan
GFORT – U.S. floorplan GCOLT – Canada lease
Funding Platform
Credit facilities
− Totaling $27.2B, provided by 37 banks at December 31, 2016
Global securitization platforms
− Segregated by asset type and geography - current platforms:
− Anticipate launching U.S. prime retail loan platform in 2017
− Projected CY 2017 issuances: ~$13-16B, including 144A
transactions
− Private amortizing securitizations are used to augment/diversify
funding
Global senior notes platform
− Supporting operations in U.S., Canada, Europe and Mexico
− Projected CY 2017 issuances:
~$11-14B, 5-8 offerings
Other
− Retail customer deposits in Germany, $1.9B at December 31, 2016
Unsecured debt 47% of total debt at December 31, 2016
At December 31, 2016
$73.9B
Shifting funding mix toward unsecured debt thereby increasing unencumbered assets; strategy
to fund locally with flexibility to issue globally to support U.S. growth
North America
Securitization
36%
North America
Sr Notes 36%
North America
Credit
Facilities
9%
International
Securitization
4%
International
Credit
Facilities 9%
International
Sr Notes 2%
International
Other
Unsecured 4%
11
Current Ratings
GM GM Financial
Company
Rating
Bond
Rating Outlook
Company
Rating
Bond
Rating Outlook
DBRS BBB N/A Stable BBB BBB Stable
Fitch BBB- BBB- Positive BBB- BBB- Positive
Moody’s I.G. Baa3 Stable Baa3 Baa3 Stable
Standard and Poor’s BBB BBB Stable BBB BBB Stable
Committed to Investment Grade
Investment grade status achieved with all agencies, consistent with GM’s ratings
− January 2017, Standard and Poor’s and Moody’s upgrade to BBB and Baa3, respectively; outlook stable
− June 2016, Fitch changed outlook to positive
Investment grade rating critical for captive strategy execution
GM targeting performance consistent with “A” ratings criteria
12
North America
13
GM and GMF Penetration Statistics
Dec-16 Sept-16 Dec-15
GMF as a % of GM Retail Sales
U.S. 32.2% 31.8% 33.4%
Canada 18.7% 14.3% 13.1%
GMF Wholesale Dealer Penetration
U.S. 15.9% 14.8% 12.8%
Canada 12.2% 12.2% 11.7%
GM as % of GMF Retail Originations
(GM New / GMF Retail Loan and Lease)
U.S. 86.3% 87.2% 87.8%
Canada 99.3% 98.5% 97.9%
GMF penetration of GM retail sales largely dependent on level of lease and subvented loan
products in the market
U.S. wholesale dealer penetration in the December 2016 quarter continued, steady
increases both sequentially
and year-over-year
14
Origination Mix by Credit Tier
Three Months Ended
(Loan and Lease Originations, $M)1 Dec-16 Dec-15
Amount Percent Amount Percent
Prime – FICO Score 680 and greater $6,471 72.7% $5,700 69.3%
Near prime – FICO Score 620 to 679 1,065 12.0% 1,048 12.7%
Sub-prime – FICO Score less than 620 1,359 15.3% 1,479 18.0%
Total loan and lease originations $8,895 100.0% $8,227 100.0%
Origination mix continuing to shift to prime credit tiers
1. For originations associated with the commercial vehicle program, FICO scores or equivalents are used in determining prime, near-prime and sub-prime classifications
15
Retail Loan Originations
GMF as % of
GM U.S. <620
GMF as a % of
GM U.S. ≥620
Weighted Avg.
FICO
32%
14%
685
38%
10%
661
36%
10%
659
30%
12%
686
Origination volume stable year-over-year, lower quarter-over-quarter reflecting higher
subvention participation in September 2016 quarter
29%
12%
682
$0.5 $0.5 $0.6 $0.6 $0.6
$0.5 $0.5 $0.5 $0.6 $0.6
$1.9 $1.6 $1.4
$2.2 $1.8
$18.1 $18.8
$19.4
$20.8
$21.8
Dec-15 Mar-16 Jun-16 Sept-16 Dec-16
Loans originated on new
vehicles by GM dealers
($B)
Loans originated on
used vehicles by GM
dealers ($B)
Loans originated on
vehicles by non-GM
dealers ($B)
Retail finance
receivables portfolio ($B)
$2.6
$3.4
$2.5
$3.0 $2.9
16
Retail Loan Credit Performance
December 2016 net charge-off percentage is down compared to December 2015 due
to positive impact of mix shift to prime, partially offset by credit normalization and a
decline in recovery values
− Finance receivables with FICO scores <620 comprise 48% of the North America retail loan portfolio
at December 31, 2016, compared to 60% at December 31, 2015
Recovery rates are expected to continue trending down year-over-year in 2017
Net annualized
charge-offs
31-60 day
delinquency
61+ day
delinquency
Recovery
Rate
54% 55% 52% 50% 53%
3.0%
2.6%
2.3%
2.7% 2.8%
0.0%
2.0%
4.0%
6.0%
8.0%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
Dec-15 Mar-16 Jun-16 Sept-16 Dec-16
De
linqu
e
nc
y
N
et
A
n
n
ual
ized
C
harg
e
-o
ff
s
Credit Metrics
18
Residual Value
GM and GMF jointly support residual values
− GM through the management of the retail/fleet strategy, incentive spend, inventory management, Express Drive
and Factory Pre-Owned Collection
− GMF through its comprehensive end-of-term remarketing process, designed to support GM dealer base while
maximizing resale values
GMF Dealer Source, a private-label online wholesale marketplace, provides single-source online access to
purchase a wide range of pre-owned GM vehicles, including off-lease, rental vehicles and GM company vehicles
ALG utilized to set residual values
− Residual value set at origination and marked quarterly over the life of the lease based on ALG estimates,
augmented with internal models
− Multiple factors used in predicting future vehicle residual values; including
Macro Factors: Gas Prices, Durable Goods, Consumer Spending
Industry Factors: Industry and Segment Supply, Wholesale Values, Incentives, Fleet Strategy
Brand Factors: Packaging/Pricing, Vehicle Lifecycle, Brand Outlook/Value, Quality Perception
Residual performance on returned vehicles1
‒ Consistent with overall industry view, expect used
vehicle values to decline
Future supply increase anticipated and captured
in forward-looking metrics
‒ U.S. disposition proceeds on returned vehicles
compared to estimates at origination moderated
throughout the year; trucks and utilities performing
better than cars
1. Vehicles not purchased by the lessee or dealer at contract residual value that are
returned to and remarketed by GMF
2. Reflects average per unit gain/(loss) on vehicles returned to GMF and sold in the period
19
Commercial Lending
Strong growth in number of dealers and receivables outstanding in the December 2016 quarter
Floorplan financing represents 89% of commercial portfolio
$4.1
$4.4
$4.8
$5.3
$6.5
656
694 721 745
792
Dec-15 Mar-16 Jun-16 Sep-16 Dec-16
Commercial Finance Receivables Outstanding ($B) Number of Dealers
20
International Operations
21
GM and GMF Penetration Statistics
Dec-16 Sept-16 Dec-15
GMF as a % of GM Retail Sales
Europe 43.2% 43.4% 43.4%
Latin America 53.3% 60.8% 52.0%
GMF Wholesale Dealer Penetration
Europe 98.9% 99.9% 99.6%
Latin America 97.2% 95.1% 96.9%
GM as % of GMF Retail Originations
(GM New / GMF Retail Loan and Lease)
Europe 80.6% 80.7% 80.5%
Latin America 94.9% 96.0% 94.5%
Penetration levels stable in Europe, with lower quarter-over-quarter penetration in Latin
America reflecting stronger GM support programs in September 2016 quarter
22
Retail Loan Originations
Stable origination trend, with foreign exchange impacting quarterly volume
− Number of outstanding loan contracts (1.6M) at December 31, 2016 increased by 3%
compared to December 31, 2015
$0.9 $1.0 $1.0 $0.9 $0.8
$0.7 $0.6
$0.7 $0.8
$0.8
$11.0
$11.5 $11.4 $11.5 $11.1
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
Dec-15 Mar-16 Jun-16 Sept-16 Dec-16
Latin America retail
loan ($B)
Europe retail
loan
($B)
Retail finance
receivables
portfolio ($B)
$1.6 $1.6 $1.7
$1.7 $1.6
23
Retail Loan Credit Performance
Credit metrics generally stable, consistent with a predominantly
prime portfolio
Net annualized
charge-offs
31-60 day
delinquency
61+ day
delinquency
0.9% 0.8% 0.9% 0.9% 1.0%
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
Dec-15 Mar-16 Jun-16 Sept-16 Dec-16
De
linqu
e
nc
y
Net
A
nnua
liz
e
d
Charg
e
-o
ff
s
Credit Metrics
24
Commercial Lending
At December 31, 2016, commercial finance receivables were comprised of
94% floorplan and 6% primarily real estate and dealer loans
$3.1
$3.6 $3.4 $3.2 $3.2
$1.3
$1.2 $1.2 $1.2 $1.4
2,139 2,147 2,146 2,143 2,150
1,400
1,500
1,600
1,700
1,800
1,900
2,000
2,100
2,200
2,300
Dec-15 Mar-16 Jun-16 Sep-16 Dec-16
Europe Commercial Receivables Outstanding ($B) Latin America Commercial Receivables Outstanding ($B)
$4.8
$4.6 $4.4 $4.6 $4.4
Number of Dealers
25
SAIC-GMAC - China Joint Venture
GMF owns a 35% equity stake in SAIC-GMAC joint venture
− Joint venture began operations in 2004
− Ownership stake gives GMF a presence in the largest auto market
− Results reflected in financial statements under equity method
− Calendar year 2016 equity income of $151M, up from $116M for calendar year 2015
China market:
− GM’s market share for Q4 2016 was 13.8%; industry forecasted to grow in the low single digits in 2017
− Car purchases are primarily for cash in China; financing penetration relatively low compared to other regions
−
Auto loans typically have high down payment, low LTV and low charge-offs
Three months ended
Dec-16 Sept-16 Dec-15
China JV as a % of SGM1 Retail Sales2 36.3% 29.6% 24.5%
Retail Originations ($B)2 $3.0 $2.0 $2.1
Ending Earning Assets ($B)
Retail $8.5 $7.5 $6.9
Commercial3 $2.6 $2.8 $3.3
Net Retail Charge-offs 0.2% 0.2% 0.6%
Equity Income ($M) $42 $36 $31
1. SAIC General Motors Sales Co., Ltd.
2. Includes off-balance sheet contracts originated for third parties
3. Commercial finance receivables are not netted with dealer deposits, in comparison to GMF U.S. GAAP presentation of $2.0B
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