North American automotive financing operations accounted for pretax income of $559 million versus $592 million during the same quarter last year.Īlly's mortgage business also remains a ball and chain. Still, the company's auto lending net pretax profit declined 13 percent year over year to $703 million. The company also wrote more standard loans that are not propped up by factory incentives.Īlly's wholesale finance penetration for Chrysler and GM dealers dipped slightly, but it still finances at least three out of four new Chrysler and GM vehicles in stock.Īnd executives said the company offset the declines by attracting floorplan accounts from dealers selling non-GM and Chrysler makes.Īlly quoted market share data showing it still holds first place in retail auto lending and ranks third in auto leasing. retail finance business was up 18 percent overall to $9.5 billion, thanks to gains in auto leasing, used-vehicle financing and non-GM and Chrysler business. In the U.S., Ally saw double-digit declines in its GM and Chrysler discounted retail business because of decreases in auto manufacturer incentives.īut its U.S. Overall, Ally reported today net second-quarter profit of $113 million, down from $565 million a year ago. reported a 44 percent gain year over year in its global retail auto finance volume, though intense competition chipped away at its second-quarter profit.Īlly, formerly GMAC, wrote $2.3 billion in auto loans and leases worldwide, up from $1.6 billion in the second quarter of last year.
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