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GMAC POSTS INCREASED OPERATING EARNINGS FOR 1992 FIRST QUARTER

 GMAC POSTS INCREASED OPERATING EARNINGS FOR 1992 FIRST QUARTER
 DETROIT, April 27 /PRNewswire/ -- Consolidated net income of General Motors Acceptance Corporation for the first quarter of 1992 totaled $354 million, an increase of $48 million from the first quarter of 1991 after excluding a nonrecurring favorable 1991 adjustment, GMAC Chairman John R. Edman announced today.
 Restated 1991 first-quarter earnings of $637 million reflect a $331.5 million favorable adjustment to net income due to the implementation in 1991 of SFAS No. 109, a new accounting standard for income taxes. Exclusive of this one-time impact, 1991 first-quarter adjusted net income amounted to $306 million. On this basis, first- quarter 1992 earnings, which include the results of GMAC's financing, insurance and mortgage operations, reflect year-over-year improvement in all three businesses.
 Net income from financing operations, including mortgage results, for the 1992 first quarter totaled $294 million, compared with 1991 first-quarter adjusted income of $262 million. Insurance operations generated net income of $60 million for the first quarter of 1992, compared with 1991 first-quarter net income of $44 million excluding the impact of SFAS No. 109. Total earning assets were $99.2 billion at March 31, 1992, virtually unchanged from a year ago.
 In the United States, GMAC financed or leased 36 percent of new GM vehicles sold, up from 32 percent in the first quarter of 1991. GMAC financed or leased 413,000 new cars and trucks in the United States in the first quarter, compared with 359,000 vehicles during the prior-year period.
 Leasing volume, primarily acquired under GMAC's SMARTLEASE program, totaled 47,000 units during the first quarter of 1992, compared with 41,000 units a year ago, continuing the strong growth in consumer leasing.
 Outside the United States, 145,000 new vehicles were financed or leased by GMAC, 14,000 units higher than a year ago.
 Retail installment, lease financing and leasing contracts purchased worldwide totaled $11.3 billion for the first quarter of 1992, up $1.9 billion from the corresponding 1991 period.
 -0- 4/27/92
 /CONTACT: Lynda A. Kosinski of GMAC, 313-556-1022/
 (GM) CO: GMAC ST: Michigan IN: FIN AUT SU: ERN


DH -- DE012 -- 3049 04/27/92 10:54 EDT
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Date:Apr 27, 1992
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