General Motors Acceptance Corp. GMAC said profit...
From Times Wire Services
General Motors Acceptance Corp. GMAC said profit rose 17% in the fourth quarter to $242 million, from $207 million in the last three months of 1993. A strong increase in vehicle financing income was credited with the gain.
Profit totaled $920 million for the full year, down 6.2% from $981 million in 1993. The decline was blamed on a 37.9% drop in earnings in GMAC’s insurance subsidiary, Motors Insurance Corp.
