The auto maker, in the midst of a restructuring aimed at restoring profitability, has been stung in recent months by the weak performance at GMAC Financial Services, which has struggled due to losses at its residential-mortgage business even as auto loans continue to be profitable.
Adding fuel to the fire for GM investors, Lehman Brothers analyst Brian Johnson said in a research note Monday that GMAC is experiencing a "sharp" increase in delinquency rates among its auto-loan customers since July.
Auto-loan delinquencies could further expose GM to a falling credit market and could further disrupt the auto maker's restructuring efforts. GM surprised the automotive industry when it reported a third-quarter net loss of $38.96 billion earlier this month. The majority of the loss was attributed to tax-asset valuation, though GM booked a $757 million loss associated with its 49 percent stake in GMAC.
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