One in eight new vehicles financed is through Ally
DETROIT -- Ally Financial has financed more consumer new vehicle purchases in the U.S. than any other lender during 2010, according to AutoCount data by Experian Automotive.
In 2010, Ally financed more than 803,000 new vehicle purchases, resulting in nearly $23 billion in consumer retail contracts in the U.S. This represents an approximately 60 percent increase in new vehicle originations compared to 2009.
"Ally accounted for one in every eight new vehicle purchases that are financed in this country last year," said Bill Muir, Ally Financial president. "We are proud to support a broad network of automotive dealers and their customers with financing products and services, and as the leading auto financing source in the market, we are committed to this industry for the long-term."
In total, combining new and used vehicles, purchases and leases, Ally financed $31.6 billion in consumer auto contracts in the U.S. in 2010. Ally financed nearly 1.2 million vehicles, an increase of more than 80 percent from 2009. In addition, the company provided financing for more than 2.8 million vehicles sold to over 5,000 dealers in 2010, an increase of nearly 80 percent from the prior year.
Muir continued, "Ally has some inherent strengths that have led to our leadership position in supporting the auto industry, and those strengths have contributed to both the growth and diversification of our auto finance business."
Ally Financial accepts financing applications for new and used vehicles from dealers of all auto makes, and is the preferred provider of financing for the automotive dealer networks of General Motors, Chrysler, Saab, Suzuki, Fiat and Thor Industries.
Experian Automotive reports Department of Motor Vehicles registration information from all 50 states. Four states do not report the financing source: Wyoming, Delaware, Rhode Island and Oklahoma.
About Ally Financial
Ally Financial Inc. (formerly GMAC Inc.) is one of the world's largest automotive financial services companies. The company offers a full suite of automotive financing products and services in key markets around the world. Ally's other business units include mortgage operations and commercial finance, and the company's subsidiary, Ally Bank, offers online retail banking products. With more than $172 billion in assets as of Dec. 31, 2010, Ally operates as a bank holding company. For more information, visit the Ally media site at http://media.ally.com.