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GM Financial Receivables and Transactions
 6 Months Ended
Jun. 30, 2025
GM Financial  
Finance Receivables [Line Items]  
GM Financial Receivables and Transactions GM Financial Receivables and Transactions
June 30, 2025December 31, 2024
RetailCommercial(a)TotalRetailCommercial(a)Total
GM Financial receivables$77,837 $16,399 $94,236 $76,066 $19,228 $95,294 
Less: allowance for loan losses(2,630)(91)(2,720)(2,400)(58)(2,458)
GM Financial receivables, net$75,207 $16,308 $91,516 $73,667 $19,169 $92,836 
Fair value of GM Financial receivables utilizing Level 2 inputs$16,308 $19,169 
Fair value of GM Financial receivables utilizing Level 3 inputs$76,842 $74,729 
__________
(a)Commercial finance receivables include dealer financing of $15.8 billion and $18.6 billion, and other financing of $571 million and $604 million at June 30, 2025 and December 31, 2024. Commercial finance receivables are presented net of dealer cash management balances of $3.2 billion and $3.4 billion at June 30, 2025 and December 31, 2024. Under the cash management program, subject to certain conditions, a dealer may choose to reduce the amount of interest on its floorplan line by making principal payments to GM Financial in advance.
Three Months EndedSix Months Ended
June 30, 2025June 30, 2024June 30, 2025June 30, 2024
Allowance for loan losses at beginning of period$2,567 $2,355 $2,458 $2,344 
Provision for loan losses354 174 682 378 
Charge-offs(490)(411)(968)(816)
Recoveries270 222 521 435 
Effect of foreign currency19 (29)28 (30)
Allowance for loan losses at end of period$2,720 $2,311 $2,720 $2,311 

The allowance for loan losses as a percentage of finance receivables was 2.9% and 2.6% at June 30, 2025 and December 31, 2024. The allowance ratio is based on factors including portfolio credit quality, expectations for recovery rates and economic outlook.

Retail Finance Receivables GM Financial's retail finance receivable portfolio includes loans made to consumers and businesses to finance the purchase of vehicles for personal and commercial use. The following tables are consolidated summaries of the retail finance receivables by FICO score or its equivalent, determined at origination, for each vintage of the retail finance receivables portfolio at June 30, 2025 and December 31, 2024:
Year of OriginationJune 30, 2025
20252024202320222021Prior TotalPercent
Prime – FICO score 680 and greater$13,597 $20,025 $12,446 $7,360 $3,959 $1,810 $59,196 76.1 %
Near-prime – FICO score 620 to 6792,048 3,046 1,821 1,194 804 393 9,306 12.0 %
Sub-prime – FICO score less than 6201,992 2,992 1,719 1,234 857 541 9,335 12.0 %
Retail finance receivables$17,636 $26,063 $15,986 $9,788 $5,620 $2,744 $77,837 100.0 %
Year of OriginationDecember 31, 2024
20242023202220212020PriorTotalPercent
Prime – FICO score 680 and greater$24,155 $15,814 $9,749 $5,424 $2,559 $366 $58,067 76.3 %
Near-prime – FICO score 620 to 6793,547 2,227 1,507 1,077 473 159 8,990 11.8 %
Sub-prime – FICO score less than 6203,399 2,059 1,546 1,141 543 322 9,008 11.8 %
Retail finance receivables$31,101 $20,100 $12,802 $7,642 $3,575 $847 $76,066 100.0 %
GM Financial reviews the ongoing credit quality of retail finance receivables based on customer payment activity. A retail account is considered delinquent if a substantial portion of a scheduled payment has not been received by the date the payment was contractually due. Retail finance receivables are collateralized by vehicle titles and, subject to local laws, GM Financial generally has the right to repossess the vehicle in the event the customer defaults on the payment terms of the contract. The accrual of finance charge income had been suspended on delinquent retail finance receivables with contractual amounts due of $910 million and $958 million at June 30, 2025 and December 31, 2024. The following tables are consolidated summaries of the delinquency status of the outstanding amortized cost of retail finance receivables for each vintage of the portfolio at June 30, 2025 and December 31, 2024, as well as summary totals for June 30, 2024:
Year of OriginationJune 30, 2025June 30, 2024
20252024202320222021Prior TotalPercentTotalPercent
0-to-30 days$17,493 $25,437 $15,415 $9,327 $5,280 $2,523 $75,474 97.0 %$71,211 97.1 %
31-to-60 days103 435 394 325 247 161 1,665 2.1 %1,551 2.1 %
Greater-than-60 days36 167 157 125 85 57 626 0.8 %509 0.7 %
Finance receivables more than 30 days delinquent139 602 550 450 333 218 2,291 2.9 %2,060 2.8 %
In repossession4 24 21 11 7 3 71 0.1 %64 0.1 %
Finance receivables more than 30 days delinquent or in repossession143 626 571 461 340 221 2,362 3.0 %2,124 2.9 %
Retail finance receivables$17,636 $26,063 $15,986 $9,788 $5,620 $2,744 $77,837 100.0 %$73,335 100.0 %
Year of OriginationDecember 31, 2024
20242023202220212020PriorTotalPercent
0-to-30 days$30,581 $19,411 $12,207 $7,178 $3,350 $710 $73,438 96.5 %
31-to-60 days374 481 425 340 166 99 1,885 2.5 %
Greater-than-60 days128 188 155 115 55 36 677 0.9 %
Finance receivables more than 30 days delinquent502 669 580 455 221 135 2,562 3.4 %
In repossession17 19 14 10 3 2 66 0.1 %
Finance receivables more than 30 days delinquent or in repossession519 689 595 464 225 136 2,628 3.5 %
Retail finance receivables$31,101 $20,100 $12,802 $7,642 $3,575 $847 $76,066 100.0 %

Commercial Finance Receivables GM Financial's commercial finance receivables consist of dealer financing, primarily for dealer inventory purchases, and other financing, which includes loans to commercial vehicle upfitters. For dealer financing, proprietary models are used to assign a risk rating to each dealer. GM Financial performs periodic credit reviews of each dealership and adjusts the dealership's risk rating, if necessary. The credit risk associated with other financing is limited due to the structure of the business relationships.
GM Financial's dealer risk model and risk rating categories are as follows:
RatingDescription
IPerforming accounts with strong to acceptable financial metrics with at least satisfactory capacity to meet financial commitments.
IIPerforming accounts experiencing potential weakness in financial metrics and repayment prospects resulting in increased monitoring.
IIINon-Performing accounts with inadequate paying capacity for current obligations and have the distinct possibility of creating a loss if deficiencies are not corrected.
IVNon-Performing accounts with inadequate paying capacity for current obligations and inherent weaknesses that make collection of liquidation in full highly questionable or improbable.

Dealers with III and IV risk ratings are subject to additional monitoring and restrictions on funding, including suspension of lines of credit and liquidation of assets. The following tables summarize the dealer finance receivables portfolio by dealer risk rating at June 30, 2025 and December 31, 2024:
Year of Origination(a)June 30, 2025
Dealer Risk RatingRevolving20252024202320222021PriorTotalPercent
I$12,840 $152 $221 $149 $331 $184 $233 $14,109 89.1 %
II905 3 27 29 14 36 5 1,020 6.4 %
III587 4 50 5 14 23 15 699 4.4 %
IV— — — — — — — — — %
Balance at end of period$14,333 $160 $298 $182 $359 $243 $253 $15,828 100.0 %
__________
(a)Floorplan advances comprise 99.1% of the total revolving balance. Dealer term loans are presented by year of origination.
Year of Origination(a)December 31, 2024
Dealer Risk RatingRevolving20242023202220212020PriorTotalPercent
I$16,190 $321 $209 $360 $237 $267 $22 $17,606 94.5 %
II621 — 10 26 3 2 — 663 3.6 %
III305 10 4 — 22 — 12 354 1.9 %
IV1 — — — — — — 1 — %
Balance at end of period$17,117 $331 $223 $385 $263 $269 $35 $18,623 100.0 %
__________
(a)Floorplan advances comprise 99.5% of the total revolving balance. Dealer term loans are presented by year of origination.

There were no commercial finance receivables on nonaccrual status at June 30, 2025 and December 31, 2024.
Transactions with GM Financial The following tables show transactions between our Automotive segments and GM Financial. These amounts are presented in GM Financial's condensed consolidated balance sheets and statements of income.
June 30, 2025December 31, 2024
Condensed Consolidated Balance Sheets(a)
Commercial finance receivables due from GM consolidated dealers$324 $279 
Subvention receivable from GM(b)$579 $360 
Commercial loan funding payable to GM$101 $100 
Three Months EndedSix Months Ended
June 30, 2025June 30, 2024June 30, 2025June 30, 2024
Condensed Consolidated Statements of Income
Interest subvention earned on finance receivables$364 $346 $731 $680 
Leased vehicle subvention earned$437 $359 $852 $723 
__________
(a)All balance sheet amounts are eliminated upon consolidation.
(b)Our Automotive segments made cash payments to GM Financial for subvention of $918 million and $934 million in the three months ended June 30, 2025 and 2024 and $1.6 billion and $1.7 billion in the six months ended June 30, 2025 and 2024.

GM Financial's Board of Directors declared and paid dividends of $350 million and $450 million on its common stock in the three months ended June 30, 2025 and 2024 and $700 million and $900 million in the six months ended June 30, 2025 and 2024.