GM boosting sales through failing subprime auto loans

GM boosting sales through failing subprime auto loans | Washington Free Beacon
“You have the government trying to sell the bailout and this recovery and they’ve allowed, encouraged GM to revive itself off the back of subprime lending,” said Ed Niedermeyer, auto industry consultant.
GM Financial (GMF), the company’s in-house financing arm, reported that delinquencies grew by about $200 million to $933 million in 2012, according to GM’s annual SEC filing.
Delinquent contracts at GM now represent 8.5 percent of all auto loans—higher than delinquencies at Ford, Toyota, and Honda combined."