UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES AND EXCHANGE ACT OF 1934
Date of report (Date of Earliest Event Reported): 10-12-00
GENERAL MOTORS ACCEPTANCE CORPORATION
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(Exact name of registrant specified in its charter)
Delaware
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(State or other jurisdiction of incorporation or organization)
1-3754 38-0572512
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(Commission File No.) (I.R.S. Employer Identification No.)
200 Renaissance Center, Detroit, Michigan 48265-2000
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313-665-4327
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(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
GMAC 3RD QUARTER 2000 EARNINGS SUMMARY
General Motors Acceptance Corporation (GMAC) earned record third
quarter consolidated net income of $401 million, up from the previous record of
$392 million earned in the third quarter of 1999. Net income for the first nine
months of 2000 was $1,193 million, up 1%from the $1,176 million reported in
the same period a year ago.
For the quarter, net income from automotive financing operations
totaled $272 million, down $14 million from the $286 million earned in the third
quarter of last year. Higher asset levels were more than offset by the
negative impact stemming from the higher level of market interest rates over the
past year.
GMAC Insurance Holdings, Inc. generated net income of $50 million in
the third quarter of 2000, down 9% from the $55 million earned in the third
quarter of 1999. Third quarter earnings were down year-over-year reflecting
lower realized capital gains in the quarter.
GMAC Mortgage Group, Inc. earned $78 million in the third quarter of
2000, up 53% from the $51 million earned for the same period last year. Mortgage
operations increased year-over-year benefiting from strong international growth
along with a lower cost of servicing and a double-digit increase in domestic
mortgage originations.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf the
undersigned hereunto duly authorized.
GENERAL MOTORS ACCEPTANCE CORPORATION
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(Registrant)
Dated: October 12, 2000 By s/ GERALD E. GROSS
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(Gerald E. Gross, Comptroller)
