FORT WORTH, Texas — GM Financial revealed Wednesday that loan and lease financing on new General Motors vehicles accounted for 38.8 percent of the company's quarterly origination volume, compared to 19 percent in the previous quarter.

Loan originations for the quarter came in at $1.1 billion, compared to $935 million for the previous quarter and $624 million in the same period of the prior year.

Meanwhile, lease originations accounted for $311 million during the quarter, compared to $11 million in the previous period.

GM Financial's finance receivables stood at $8.7 billion as of March 31.

Discussing delinquency trends, management said, "Finance receivables 31 to 60 days delinquent were 3.8 percent of the portfolio at March 31, 2011, compared to 5.3 percent at March 31, 2010. Accounts more than 60 days delinquent were at 1.5 percent of the portfolio at March 31, 2011, compared to 2.2 percent a year ago."

Continuing  on, management said annualized net charge-offs came in at 4 percent of average finance receivables, compared to 7.6 percent for the same time frame in 2010.

Officials reported that the company had available liquidity of $710 million as of March 31, including $333 million in unrestricted cash, about $77 million of borrowing capacity on unpledged eligible assets and $300 million on a line of credit from GM.

As for net income, GM Financial posted net income of $77 million for the period. Net income was $75 million for the December 2010 quarter.