First of all, General Motors Financial is a relatively new entity, as the automaker was forced to divest its former finance arm during its bailout. GM started a new finance division by acquiring AmeriCredit in 2010 and then creating GM Financial, a wholly owned subsidiary. AmeriCredit brought a majority of the subprime loans into the fold, but GM has since decreased its focus in that area and instead dished out more prime loans. By the end of 2016,just 48% of GM's retail loans were subprime, and that downward trend is likely to continue. Net charge-offs in North America have been declining between those two time periods, reflecting a more prime-filled portfolio