Despite a 51% net income decline, the company’s net income is higher year-over-year.
CEO acknowledges that greater market woes may be on the horizon.
J.D. Power’s latest U.S. Dealer Financing Satisfaction Study finds knowledgeable and empowered bank and finance company personnel are critical to building successful relationships with dealers and F&I professionals.
Blinker’s P2P ecommerce technology isn’t designed to pose a threat to car dealers. In fact, the company could be working with manufacturers and dealerships in the near future.
Ally Financial said it will make up to $750 million available to DriveTime for the purchase of retail contracts over the coming year.
With current CFO Chris Halmy set to retire on March 1, 2018, Ally Financial today announced that Jenn LaClair is joining the company as CFO designate, with the intent that she will be appointed to succeed Ally's retiring CFO.
Forty-nine U.S. auto dealers have been nominated for the 2017 Time Dealer of the Year award, according to Ally Financial. For being nominated, Ally will contribute $1,000 to each dealer's charity of choice.
Dealers in Arizona, Hawaii, Michigan, Mississippi, Montana, New Jersey, New Mexico and Wisconsin will soon be able to econtract with Ally through Dealertrack. Ally currently offers econtracting in 42 states, and hopes to complete the expansion over the next several weeks.
Ally Financial said this week it is increasing the online vehicle retailer's floorplan credit line from $60 million to $125 million. This will allow Carvana to finance approximately 7,100 vehicles, up from 3,400.
The former captive originated $41 billion in auto loans in 2015, surpassing the high $30 billion range it projected at the beginning of the year. Much of that was due to the 53% increase in non-GM/Chrysler originations.
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