On Jan. 2, GM Financial and GMAC UK acquired Ally’s 40% equity interest in SAIC-GMAC Automotive Finance Company Limited, a joint venture that conducts auto finance operations in China.
According to a report released by the U.S. Treasury Department this week, the government lost more than $9 billion on its bailout of General Motors Corp., Chrysler LLC and auto lending arms Ally Financial Inc. and Chrysler Financial.
On the same day the U.S. Department of the Treasury sold the last of its remaining 54.9 million shares of Ally common stock, Ally Financial revealed that it has received a subpoena from the Department of Justice related to subprime auto lending.
Ally Financial has improved its Ally Auto Mobile Pay app and added a new Click-to-Chat tool to its website that links users with live service agents.
F&I and Showroom delves into a new study commissioned by the American Financial Services Association. It concludes that the CFPB’s use of the BISG proxy method is “conceptually flawed” and could lead to overstatement of alleged harm to consumers.
Ally Financial has announced that 55 U.S. auto dealers have been selected as nominees for the 2015 TIME Dealer of the Year award. The nominees will be honored at the NADA Convention & Exposition in January.
More than 70% of new-car dealers surveyed in September said they increased their charitable giving in 2014, according to a new survey conducted by the NADA and Ally Financial.
The interactive tool, located on Ally’s website, leads consumers through five sample questions to help them determine the best purchase option for their driving needs and budget.
The U.S. Department of the Treasury plans to wind down its investment in Ally Financial by selling additional shares of common stock through its first pre-defined written trading plan. The Treasury current holds about 16% of Ally common stock.
The auto finance source also recorded record used-vehicle originations and grew its dealer network by more than 900 dealers in the second quarter.
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