Americans Return to Optimism and Normal Spending Habits as Terrorist and Fiscal Worries Subside.

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FORT WORTH, Texas--(BUSINESS WIRE)--April 11, 2002

Concern Waning Over Bin Laden and Recession

Consumer optimism and comfort levels edged out financial insecurity and worries about the recession, layoffs and Osama bin Laden, according to a national survey of 1,000 Americans released today.

The independent study commissioned by AmeriCredit Corp., and conducted by Market Facts, Inc., a national research firm, reveals that approximately four out of five Americans expect their spending habits will return to normal within a year. Nearly half of those surveyed say they already are back to normal spending.

Despite widespread preoccupation with the war in Afghanistan, Americans expressed less concern with the capture of al-Qaeda leader Osama bin Laden (16%) than seeing a clear end to the recession (32%) and an end to large numbers of layoffs (25%).

However, the AmeriCredit study clearly shows a new surge in consumer optimism.

According to the survey, 81 percent of Americans see a return to normal spending patterns within the next year. Some 14 percent believe their spending habits will be back to normal within three months.

Nearly half (43%) of Americans insist they have allayed fears of further financial setbacks and have already resumed normal spending. Attitudes were relatively consistent across major demographic breakdowns, including gender, age, household income and marital status.

In a regional breakdown, Midwesterners were most bullish, with 50 percent reporting their spending already is back to normal. The figure was 42 percent in the South, 40 percent in the West and 40 percent in the Northeast.

"The recession and its effects are still the subject of national debate, but our survey clearly indicates that a large majority of Americans feel they have weathered the storm and are intent on resuming normal consumer purchases," said Michael R. Barrington, vice chairman, president and chief executive officer of AmeriCredit. "We have all seen the early signs of renewed optimism, and our survey shows its extent and how it's affecting people's financial decisions."

Contrary to conventional wisdom, an overwhelming majority of Americans--81 percent--believe they are currently in control of their financial future. Young people age 18-to-24 feel most in control, followed by Baby Boomers in the 45-to-54 age bracket.

Of the 1,000 persons polled nationwide, 63 percent said they felt the burden of recent financial setbacks were shared by all levels of society. Only 17 percent felt that low and middle income workers were most severely affected, while 11 percent considered seniors on fixed incomes the hardest hit.

In response to a question of priorities in paying bills during the financial downturn, Americans said mortgage and rent payments ranked first, followed in order of importance by car payments and auto insurance. Of less priority were credit card payments, cellular phone bills and cable or satellite television bills.

Asked about major spending plans postponed during the past year, respondents listed in order of importance: home improvements, vacation plans, electronic or computer purchases, elective dental or medical procedures and automobile purchases.

American consumers listed the following major spending plans for 2002, in order of importance: vacations (23%), home improvements (22%) and automobile purchases (10%).

The independent survey of 1,000 Americans has a confidence factor of +/- 5%.

AmeriCredit Corp. (NYSE: ACF) is the largest independent middle-market auto finance company in North America. Using its branch network and strategic alliances with auto groups and banks, the company makes auto loans to consumers who are typically unable to obtain financing from traditional sources. AmeriCredit has one million active loan customers throughout the United States and Canada and more than $12 billion in managed auto receivables. The company was founded in 1992 and is headquartered in Fort Worth, Texas. For more information visit www.americredit.com.

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