Subprime auto lender AmeriCredit ( ACF) cut its earnings outlook for 2008 and said profit slumped 20% in the quarter amid rising loan loss provisions. During the three months ended Sept. 30, the Fort Worth, Texas-based lender made $62 million, or 49 cents a share, compared to $74 million, or 54 cents a share, in the year-ago quarter. Analysts expected the company would make 61 cents a share. The company lowered its outlook for its fiscal 2008, which ends June 30. AmeriCredit expects profit to be in the range of $295 million to $320 million, with earnings in the range of $2.30 to 2.50 a share. The company had previously set a profit range of $320 million to $350 million, and an earnings range of $2.50 to $2.75 a share. Origination volume is also expected to fall, it says. The company expects total originations in the range of $9 billion to $9.5 billion, down from its original estimates of $10 billion to $10.5 billion. "While we saw normal seasonal credit deterioration during the September quarter, we also experienced weaker than expected results primarily from loans originated in 2006," said Dan Berce, AmeriCredit's president and chief executive. "As a result of this underperformance and a potentially softer economy in the near term, we have boosted the provision for loan losses for the quarter, which reduced our net income."