GMAC Financial Services' share of the retail finance business for General Motors vehicles has recovered from the fourth quarter last year, when GMAC's finance penetration slipped into single digits.
As the credit crisis strangled the economy, GMAC responded with stringent credit standards and stopped offering auto leases. The share of new GM vehicles it financed dropped to 8 percent in the last three months of 2008.
That share rebounded to 32 percent in the third quarter of 2009, down from 38 percent for all of 2008 and 45 percent in 2007.
Third-quarter finance penetration is slightly lower than normal because GMAC substantially reduced lease volume, said GMAC spokeswoman Gina Proia. The lender resumed leasing this year but on a much smaller scale.