Ally Financial leads industry in U.S. consumer and dealer auto financing
DETROIT, Feb. 8, 2013 /PRNewswire/ -- For the second year in a row, Ally Financial ranked number one in financing consumer auto sales in the U.S., according to AutoCount by Experian Automotive. The company financed nearly 1.5 million new and used vehicles through franchised and independent dealers last year.
"With nearly $39 billion in consumer auto financing and $32.5 billion in commercial auto assets outstanding at the end of 2012, Ally's support for the U.S. auto industry remains as strong as ever," said Bill Muir, president of Ally Financial. "We now have business relationships with nearly 15,000 dealers across the country, and our comprehensive product offerings are unmatched in the marketplace."
The company continued its transformation to a diversified, dealer-centric business model with the core focus on the U.S. auto industry. "The strategic actions we initiated last year to sell our international operations will further strengthen Ally in the U.S. for the long term," Muir said.
Ally is hiring an additional 200 sales and underwriting staff members this year in order to broaden its business reach and increase service to dealers.
"We help dealers of multiple brands sell more cars and trucks. We do that by providing expertise on the ground and at the underwriting desk," Muir said. "As the economy continues to improve, Ally will be well positioned to support the expected steady increase in financed auto sales."
Used vehicle financing and leasing comprised 46 percent of Ally's auto contract originations in 2012, up from 14 percent three years ago, reflecting the company's commitment to broaden its business in support of the industry.
Experian Automotive reports Department of Motor Vehicles registration information from 46 states. Four states do not report the financing source: Wyoming, Delaware, Rhode Island and Oklahoma.
About Ally Financial Inc.
Ally Financial Inc. is a leading automotive financial services company powered by a top direct banking franchise. Ally's automotive services business offers a full suite of financing products and services, including new and used vehicle inventory and consumer financing, leasing, inventory insurance, commercial loans and vehicle remarketing services. Ally Bank, the company's direct banking subsidiary and member FDIC, offers an array of deposit products, including certificates of deposit, savings accounts, money market accounts, IRA deposit products and interest checking. Ally's Commercial Finance unit provides financing to middle-market companies across a broad range of industries.
With approximately $182.4 billion in assets as of Dec. 31, 2012, Ally operates as a bank holding company. For more information, visit the Ally media site at http://media.ally.com or follow Ally on Twitter: @Ally.
SOURCE Ally Financial