##### 



Exhibit 99.1 Aggregate Annual Servicing Report
Superior Wholesale Inventory Financing Trust X
September 16, 2004 (inception) through December 31, 2004 I Initial SWIFT X Series 2004-A StatisticsTrust Cap
    
    $
    4,371,584,700.00Pool Balance at Sale Date
    
    $
    4,917,564,949.51Initial Trust Balance
    
    $
    4,371,584,700.00Offered Class A Term Notes, Series 2004-A
    
    $
    2,000,000,000.00Offered Class B Term Notes, Series 2004-A
    
    $
    131,148,000.00Offered Class C Term Notes, Series 2004-A
    
    $
    54,645,000.00Initial 2004-A Revolving Note Balance
    
    $
    2,000,000,000.002004-A Certificate Balance
    
    $
    185,791,700.00Reserve Fund
    
    $
    21,857,924.00Class A Term Note Cash Accumulation Reserve Fund
    
    $
    23,024,000.00Class B Term Note Cash Accumulation Reserve Fund
    
    $
    2,642,000.00Class C Term Note Cash Accumulation Reserve Fund
    
    $
    1,677,000.00II Current Collection Period StatisticsPool and Trust StatisticsBeginning Pool Balance
    
    $
    4,917,564,949.51New A/R Principal
    
    $
    8,325,452,951.00Principal Reductions
    
    $
    (6,251,224,331.18
    )Factory Credits/Warranty Repurchases
    
    $
    (1,377,898,082.87
    )Partial Pay-Off Account
    
    $
    (18,890,039.26
    )Administrative Repurchases
    
    
    Warranty Repurchases
    
    
    Eligible Accounts Repurchased
    
    
    Defaulted Receivables
    
    
    Net Change in Pool Balance
    
    $
    677,440,497.69Ending Pool Balance
    
    $
    5,595,005,447.20Average Daily Pool Balance
    
    $
    5,140,634,362.61Beginning Trust Balance
    
    $
    4,371,584,700.00Ending Trust Balance
    
    $
    4,371,584,700.00Average Daily Trust Balance
    
    $
    4,371,145,822.42Beginning Cash Accumulation Reserve Fund Account  Class A Term Notes
    
    $
    23,024,000.00Ending Cash Accumulation Reserve Fund Account  Class A Term Notes
    
    $
    23,024,000.00Change in Cash Accumulation Reserve Fund Account  Class A Term Notes
    
    $
    Beginning Cash Accumulation Reserve Fund Account  Class B Term Notes
    
    $
    2,642,000.00Ending Cash Accumulation Reserve Fund Account  Class B Term Notes
    
    $
    2,642,000.00Change in Cash Accumulation Reserve Fund Account  Class B Term Notes
    
    $
    Beginning Cash Accumulation Reserve Fund Account  Class C Term Notes
    
    $
    1,677,000.00Ending Cash Accumulation Reserve Fund Account  Class C Term Notes
    
    $
    1,677,000.00Change in Cash Accumulation Reserve Fund Account  Class C Term Notes
    
    $
    Excess Available Receivable Balance
    
    $
    799,756,740.81Defaulted Receivables  Eligible
    
    
    Defaulted Receivables  Ineligible
    
    
    Gross Weighted Average Receivable Rate
    
    
    4.40
    %Weighted Average Cost of Wholesale Incentive Plan
    
    
    0.10
    %Securities BalancesBeginning Offered Class A Term Notes, Series 2004-A Balance
    
    $
    2,000,000,000.00Ending Offered Class A Term Notes, Series 2004-A Balance
    
    $
    2,000,000,000.00Average Daily Offered Class A Term Notes, Series 2004-A Balance
    
    $
    2,000,000,000.00Beginning Offered Class B Term Notes, Series 2004-A Balance
    
    $
    131,148,000.00Ending Offered Class B Term Notes, Series 2004-A Balance
    
    $
    131,148,000.00Average Daily Offered Class B Term Notes, Series 2004-A Balance
    
    $
    131,148,000.00Beginning Offered Class C Term Notes, Series 2004-A Balance
    
    $
    54,645,000.00Ending Offered Class C Term Notes, Series 2004-A Balance
    
    $
    54,645,000.00Average Daily Offered Class C Term Notes, Series 2004-A Balance
    
    $
    54,645,000.00Beginning Revolving Note 2004-RN1 Balance
    
    $
    1,000,000,000.00Ending Revolving Note 2004-RN1 Balance
    
    $
    1,000,000,000.00Average Daily Revolving Note 2004-RN1 Balance
    
    $
    999,561,122.42Beginning Revolving Note 2004-RN2 Balance
    
    $
    1,000,000,000.00Ending Revolving Note 2004-RN2 Balance
    
    $
    1,000,000,000.00Average Daily Revolving Note 2004-RN2 Balance
    
    $
    1,000,000,000.00Beginning 2004-A Certificate Balance
    
    $
    185,791,700.00Ending 2004-A Certificate Balance
    
    $
    185,791,700.00Average Daily 2004-A Certificate Balance
    
    $
    185,791,700.00III Trust Percentage & Trust Interest CollectionsAverage Daily Offered Class A Term Notes, Series 2004-A Balance
    
    $
    2,000,000,000.00Average Daily Offered Class B Term Notes, Series 2004-A Balance
    
    $
    131,148,000.00Average Daily Offered Class C Term Notes, Series 2004-A Balance
    
    $
    54,645,000.00Average Daily Revolving Note 2004-RN1 Balance
    
    $
    999,561,122.42Average Daily Revolving Note 2004-RN2 Balance
    
    $
    1,000,000,000.00Average Daily 2004-A Certificate Balance
    
    $
    185,791,700.00Average Daily Trust Balance
    
    $
    4,371,145,822.42Average Daily Pool Balance
    
    $
    5,140,634,362.61Total Interest Collected
    
    $
    69,915,241.31Trust Percentage
    
    
    85.0313
    %




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##### 



Aggregate Annual Servicing Report
Superior Wholesale Inventory Financing Trust X
September 16, 2004 (inception) through December 31, 2004 Beginning
    
    
    
    
    
    
    
    
    
    
    EndingNote Distribution
    
    
    Current Month
    
    
    Required
    
    
    Note DistributionIV Distribution of Trust Interest
    
    
    
    
    
    Account Balance
    
    
    Actual Amounts
    
    
    Distribution
    
    
    Account BalanceAvailable Trust Interest:Trust Interest Collections
    
    
    
    
    
    
    
    
    
    $
    34,214,003.80Minimum Investment Proceeds (Commercial Paper)
    
    
    
    
    
    
    
    
    
    $
    174,991.00Minimum Investment Proceeds (Money Market Funds)
    
    
    
    
    
    
    
    
    
    $
    111,424.41$
    34,500,419.21Class A Term Notes InterestInterest Rate (LIBOR+.10%)
    
    
    2.150
    %Average Daily Balance
    
    $
    2,000,000,000.00
    
    
    
    N/A
    
    
    $
    14,813,263.89
    
    
    $
    14,813,263.89
    
    
    
    N/A# of Days of Interest
    
    
    124Class B Term Notes InterestInterest Rate (LIBOR+.28%)
    
    
    2.330
    %Average Daily Balance
    
    $
    131,148,000.00
    
    
    
    N/A
    
    
    $
    1,052,676.73
    
    
    $
    1,052,676.73
    
    
    
    N/A# of Days of Interest
    
    
    124Class C Term Notes InterestInterest Rate (LIBOR+.50%)
    
    
    2.550
    %Average Daily Balance
    
    $
    54,645,000.00
    
    
    
    N/A
    
    
    $
    480,024.08
    
    
    $
    480,024.08
    
    
    
    N/A# of Days in Collection Period
    
    
    124Revolving Note 2004-RN1Interest Rate (LIBOR+.12%)
    
    
    2.121
    %Average Daily Balance
    
    $
    999,561,122.42
    
    
    
    N/A
    
    
    $
    6,301,366.90
    
    
    $
    6,301,366.90
    
    
    
    N/A# of Days in Collection Period
    
    
    107Revolving Note 2004-RN2Interest Rate (LIBOR+.12%)
    
    
    2.121
    %Average Daily Balance
    
    $
    1,000,000,000.00
    
    
    
    N/A
    
    
    $
    6,303,923.61
    
    
    $
    6,303,923.61
    
    
    
    N/A# of Days in Collection Period
    
    
    107Subtotal
    
    
    
    
    
    
    
    
    
    $
    28,951,255.21Interest Available After Notes
    
    
    
    
    
    
    
    
    
    $
    5,549,164.00Servicer Advances Not Previously Reimbursed
    
    
    
    
    
    
    
    
    
    $
    Reserve Fund Deposit Amount
    
    
    
    
    
    
    
    
    
    $
    Cash Accumulation Reserve Fund Deposit Amount
    
    
    
    
    
    
    
    
    
    $
    2004-A Certificate InterestInterest Rate (LIBOR+.50%)
    
    
    2.550
    %Average Daily Balance
    
    $
    185,791,700.00
    
    
    
    
    
    
    $
    1,632,070.41
    
    
    $
    1,632,070.41
    
    
    
    N/A# of Days of Interest
    
    
    124Trust Defaulted Amount
    
    
    
    
    
    
    
    
    
    $
    Unreimbursed Trust Charge-Offs
    
    
    
    
    
    
    
    
    
    $
    Seller Excess Interest
    
    
    
    
    
    
    
    
    
    $
    3,917,093.59Class A Term Note Cash Accumulation Reserve Fund Draw Amount
    
    
    
    
    
    
    
    
    
    $
    Class B Term Note Cash Accumulation Reserve Fund Draw Amount
    
    
    
    
    
    
    
    
    
    $
    Class C Term Note Cash Accumulation Reserve Fund Draw Amount
    
    
    
    
    
    
    
    
    
    $
    Seller Excess Interest + Draw Amount
    
    
    
    
    
    
    
    
    
    $
    3,917,093.59Monthly Service Fee (1/12 of 1% of Average
Daily Trust Invested Balance)
    
    
    
    
    
    
    
    
    
    $
    14,570,686.64




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##### 



V Summary (A) Coverage of Deficiency AmountDeficiency Amount
    
    $
    Deficiency Amount Covered by Servicer Advance
    
    
    (a) Monthly Service Fee
    
    
    (b) (1) Aggregate Term Noteholders Interest
    
    
    (2) Revolver Interest
    
    
    (3) Specified Support Arrangements Payments
    
    
    (c) Aggregate Certificateholders Interest
    
    
    Unsatisfied Deficiency Amount
    
    
    Unsatisfied Deficiency Amount Covered by Reserve
    
    
    (a) Monthly Service Fee
    
    
    (b) (1) Aggregate Term Noteholders Interest
    
    
    (2) Revolver Interest
    
    
    (3) Specified Support Arrangements Payments
    
    
    (c) Aggregate Certificateholders Interest
    
    
    (d) Servicer Advances not previously reimbursed
    
    
    (e) Trust Defaulted Amount
    
    
    (B) Beginning Unreimbursed Trust Charge-Offs
    
    
    Plus: Trust Charge-Offs (Prior Trust Defaulted Amount)
    
    
    Plus: Trust Defaulted Amounts(Current)
    
    
    Less: Amount Covered by Trust Interest Collections
    
    
    Less: Reserve Fund Draw Amount
    
    
    Ending Unreimbursed Trust Charge-Offs
    
    
    (C) Beginning Unreimbursed Servicer Advance
    
    
    Plus: Servicer Advance (Current Month)
    
    
    Less: Reimbursed Servicer Advance-(From Trust Interest Collections)
    
    
    Ending Unreimbursed Servicer Advance
    
    $
    (D) Reserve Fund Required Amount
    
    $
    21,857,924.00Beginning Reserve Balance
    
    
    Plus: Reserve Fund Deposit Amount
    
    $
    21,857,924.00Less: Reserve Fund Draw Amount
    
    
    Ending Reserve Balance
    
    $
    21,857,924.00
    
    
    Invested in Nations Money Market Funds/Commercial PaperRequired Amount Over Ending Reserve Balance
    
    
    (E) Class A Term Notes Cash Accumulation Reserve Fund Required Amount
    
    $
    23,024,000.00Beginning Class A Term Notes Cash Accumulation Reserve Fund Balance
    
    
    Plus: Cash Accumulation Reserve Fund Deposit Amount
    
    $
    23,024,000.00Less: Cash Accumulation Reserve Fund Draw Amount
    
    
    Ending Class A Term Notes Cash Accumulation Reserve Fund Balance
    
    $
    23,024,000.00
    
    
    Invested in Nations Money Market Funds/Commercial PaperRequired Amt. Over Ending Cash Accum. Reserve Fund Bal.
    
    
    (F) Class B Term Notes Cash Accumulation Reserve Fund Required Amount
    
    $
    2,642,000.00Beginning Class B Term Notes Cash Accumulation Reserve Fund Balance
    
    
    Plus: Cash Accumulation Reserve Fund Deposit Amount
    
    $
    2,642,000.00Less: Cash Accumulation Reserve Fund Draw Amount
    
    
    Ending Class B Term Notes Cash Accumulation Reserve Fund Balance
    
    $
    2,642,000.00
    
    
    Invested in Nations Money Market Funds/Commercial PaperRequired Amt. Over Ending Cash Accum. Reserve Fund Bal.
    
    
    (G) Class C Term Notes Cash Accumulation Reserve Fund Required Amount
    
    $
    1,677,000.00Beginning Class C Term Notes Cash Accumulation Reserve Fund Balance
    
    
    Plus: Cash Accumulation Reserve Fund Deposit Amount
    
    $
    1,677,000.00Less: Cash Accumulation Reserve Fund Draw Amount
    
    
    Ending Class C Term Notes Cash Accumulation Reserve Fund Balance
    
    $
    1,677,000.00
    
    
    Invested in Nations Money Market Funds/Commercial PaperRequired Amt. Over Ending Cash Accum. Reserve Fund Bal.
    
    
    
 From Bank of New York to GMACSeller Excess Interest
    
    $
    3,917,093.59Cash Accumulation Draw Amount-Class A Term Notes
    
    $
    Cash Accumulation Draw Amount-Class B Term Notes
    
    $
    Cash Accumulation Draw Amount-Class C Term Notes
    
    $
    Ineligible Interest
    
    $
    Additional Trust Principal
    
    $
    Minimum Investments Received for 2004
    
    $
    (111,424.41
    )Distribution to GMAC
    
    $
    3,805,669.18
 From Bank of New York to Chase Manhattan Bank (USA)From Chase Manhattan Bank (USA) - New York to GMACCertificate Interest Due GMAC
    
    $
    1,632,070.41
 From Bank of New York to Chase Manhattan Bank (USA)From Chase Manhattan Bank (USA) - New York to DTCCertificate Interest Due Investors
    
    $
    
 From Bank of New York to US Bank (NCAT)Revolving Note Interest
    
    $
    12,605,290.51
 From Bank of New York to Term Note Holders (DTC)Term Note Interest
    
    $
    16,345,964.70Total Disbursements From Bank of New York
    
    $
    34,388,994.80




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##### 



Aggregate Annual Servicing Report
Superior Wholesale Inventory Financing Trust X
September 16, 2004 (inception) through December 31, 2004 VI Distribution AmountsClass A Term Notes, Series 2004-A Balance Prior to Distribution
    
    $
    2,000,000,000.00Distribution Amount Allocable to Principal
    
    
    Class A Term Notes, Series 2004-A Balance After Distribution
    
    $
    2,000,000,000.00Class B Term Notes, Series 2004-A Balance Prior to Distribution
    
    $
    131,148,000.00Distribution Amount Allocable to Principal
    
    
    Class B Term Notes, Series 2004-A Balance After Distribution
    
    $
    131,148,000.00Class C Term Notes, Series 2004-A Balance Prior to Distribution
    
    $
    54,645,000.00Distribution Amount Allocable to Principal
    
    
    Class C Term Notes, Series 2004-A Balance After Distribution
    
    $
    54,645,000.00Revolving Note 2004-RN1 Balance Beginning of Collection Period
    
    $
    1,000,000,000.00Movement During Collection Period
    
    
    Revolving Note 2004-RN1 Balance End of Collection Period
    
    $
    1,000,000,000.00Revolving Note 2004-RN2 Balance Beginning of Collection Period
    
    $
    1,000,000,000.00Movement During Collection Period
    
    
    Revolving Note 2004-RN2 Balance End of Collection Period
    
    $
    1,000,000,000.002004- A Certificate Balance Prior to Distribution
    
    $
    185,791,700.00Distribution Amount Allocable to Principal
    
    
    2004-A Certificate Balance After Distribution
    
    $
    185,791,700.00VII Trust Early Amortization Triggers(1) Average Monthly Payment Rates <22.5%Current month
    
    
    30.8
    %Current month - 1
    
    
    27.8
    %Current month - 2
    
    
    35.7
    %Three month Average
    
    
    31.4
    %(2) Reserve Fund < Reserve Fund Required AmountReserve Fund on Deposit
    
    $
    21,857,924.00Reserve Fund Required Amount
    
    $
    21,857,924.00Current month
    
    $
    Reserve Fund on Deposit
    
    $
    21,857,924.00Reserve Fund Required Amount
    
    $
    21,857,924.00Current month - 1
    
    $
    Reserve Fund on Deposit
    
    $
    21,857,924.00Reserve Fund Required Amount
    
    $
    21,857,924.00Current month - 2
    
    $
    (3) Reserve Fund Required Amount Exceeds Reserve Fund by > Reserve Fund Trigger AmountReserve Fund Required Amount
    
    $
    21,857,924.00Reserve Fund on Deposit
    
    $
    21,857,924.00Current month
    
    $
    Reserve Fund Trigger Amount
    
    $
    20,000,000.00(4) Average Daily Trust Balance/(Average Term Notes + Average Certificate Balance)
Less than 75%
(To be determined over most recent six Collection Periods)Current month
    
    
    184.3
    %Current month - 1
    
    
    184.3
    %Current month - 2
    
    
    184.3
    %Current month - 3
    
    
    184.3
    %Current month - 4
    
    
    NACurrent month - 5
    
    
    NASix month Average
    
    
    NA(5) Aggregate Available Receivables < 70% of Aggregate ReceivablesCurrent month
    
    
    94.1
    %Current month - 1
    
    
    93.9
    %(6) Draw on the Reserve Fund resulting from LIBOR exceeding the PRIME rate that has not been restored?
    
    
    NOVIII Cash Accumulation TriggersHave any of the above Trust Early Amortization Events occurred with respect
to the Offered Term Notes?
    
    
    NOIX Rapid Amortization TriggersHave any of the following events occurred which would constitute a Rapid Amortization Event
for the 2004-A Term Notes and an Early Amortization Event for the Trust?(1) The occurrence of certain events of bankruptcy, insolvency or receivership relating to
General Motors, GMAC, the servicer, if not GMAC, or the seller.
    
    
    NORapid Amortization Triggers for the 2004-A Term Notes(2) Class A Term Note Cash Accumulation Reserve Fund < $1,833,333
    
    
    NOCurrent Month
    
    $
    23,024,000.00(3) Class B Term Note Cash Accumulation Reserve Fund < $139,891
    
    
    NOCurrent Month
    
    $
    2,642,000.00(4) Class C Term Note Cash Accumulation Reserve Fund < $68,306
    
    
    NOCurrent Month
    
    $
    1,677,000.00(5) Trust or Seller becomes required to register as an investment company.
    
    
    NO