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: (10-18-2001)
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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313-665-6266
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(Registrant's telephone number, including area code)
GMAC 3RD QUARTER 2001 EARNINGS SUMMARY
General Motors Acceptance Corporation (GMAC) earned consolidated net income
in the third quarter of 2001 of $437 million, up 9% from the $401 million earned
in the third quarter of 2000. These earnings represent a record third quarter
for GMAC. Net income for the first nine months of 2001 was $1,351 million, up
13% from the $1,193 million reported in the same period a year ago.
For the quarter, net income from financing operations totaled $310 million,
up 14% from the $272 million earned in the same period of 2000. The strong
results can be attributed to higher asset levels and the positive impact of
lower short-term interest rates, which were only partially offset by higher
credit losses and lower off-lease residual values.
GMAC Insurance Holdings, Inc. generated net income of $49 million in the
third quarter of 2001, down 2% from the $50 million earned in the same period of
2000. Improved underwriting results were offset by lower capital gains
reflecting general weakness in the equity markets.
GMAC Mortgage Group, Inc. earned $78 million in the third quarter of 2001,
virtually unchanged from the same period last year. Origination volume in both
the residential and commercial mortgage sectors grew at record pace.
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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 18, 2001 By s/ GERALD E. GROSS
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(Gerald E. Gross, Controller)