In the words of General Motors Financial president and chief executive officer Dan Berce, the paper the captive is adding “continues to skew to more prime originations.”

Berce made his latest proclamation when GM Financial shared its third-quarter results, which included $2.2 billion of prime originations. As Berce explained during the company’s latest conference call, that figure constituted 58.3 percent of the captive’s total retail mix in Q3, up from 54.4 percent a year ago.

And with less non-prime coming into the portfolio, Berce highlighted that “as far as credit performance, we did see improvement, again, year-over-year with losses attaining a 1.9 percent level, down from 2.5 percent a year ago. The increase is driven primarily by our continuing shift to prime lending.

“In fact, finance receivables with FICO score less than 620, now comprise just 39 percent of our North America retail loan portfolio compared to 48 percent at calendar year-end 2016 and 51 percent a year ago,” Berce went on to say.

The company indicated its retail finance receivables 31 to 60 days delinquent represented 3.6 percent of its portfolio at the close of Q3, down from 4.4 percent a year earlier. Accounts more than 60 days delinquent constituted 1.6 percent of the portfolio, down from 1.9 percent.

With higher quality paper entering the system, GM Financial tabulated that its income from continuing operations for the quarter that ended Sept. 30 came in at $186 million, compared to $134 million a year earlier. The captive said its income from continuing operations through nine months totaled $635 million, up from $415 million through the first three quarters of 2016.

So far this year, GM Financial has originated in $15.5 billion retail financing with $4.7 billion coming in the third quarter. The outstanding balance of retail finance receivables was $32.3 billion as of Sept. 30.

GM Financial’s leasing segment continues to grow, too, as the captive originated $19.6 billion in lease deals through three quarters with $6.5 billion arriving in Q3.

And on the commercial side, GM Financial reported that its outstanding balance of commercial finance receivables stood at $9.5 billion on Sept. 30, up from $6.6 billion a year earlier. The captive indicated that 874 dealers are leveraging its commercial offerings with 90 percent of that portfolio representing floor-plan financing.

Finally, GM Financial shared that its total available liquidity is $17.8 billion, consisting of $4.0 billion of cash and cash equivalents, $12.7 billion of borrowing capacity on unpledged eligible assets, $0.1 billion of borrowing capacity on committed unsecured lines of credit and $1.0 billion of borrowing capacity on a junior subordinated revolving credit facility from GM.