Post Tagged with: "Ally Financial"

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US: Ally Financial gets new CEO

US: Ally Financial gets new CEO

Ally Financial Inc., the US auto lender that survived through a government-sponsored bankruptcy bailout, has decided to put Jeffrey J. Brown in charge as chief executive officer, with Michael A. Carpenter leaving all his positions. Carpenter, the former CEO is also vacating his board position and Brown, 41, will fill […]

Ally Loss Widens in the Second Quarter

Ally Loss Widens in the Second Quarter

Ally Financial said that its loss in the second quarter widened due to higher provisions for soured vehicle loans and mortgage settlement. Net loss during the second quarter jumped to $927 million, compared with $898 million in 2012, including the $1.6 billion payment for the settlement with creditors regarding the […]

Ally Plans to Raise $1B to Pass US Stress Tests

Ally Plans to Raise $1B to Pass US Stress Tests

Ally Financial might raise around $1 billion in stock to be able to pass the Federal Reserve’s annual stress test, according to anonymous sources. The auto-lender majority owned by U.S. taxpayers, did not manage to pass the test several months ago. Now Ally plans to raise $1 billion in a […]

Ally Financial Pays ResCap $2.1B to Avoid Lawsuits

Ally Financial Pays ResCap $2.1B to Avoid Lawsuits

Ally Financial will pay $2.1 billion to the ResCap bankruptcy estate to avoid lawsuits. “Putting these issues behind us is in the best interest of our shareholders, employees and customers,” Ally CEO Michael A. Carpenter said in the statement. Ally agreed to pay $1.95 billion to the ResCap bankruptcy estate, […]

GM Rolls Out F&I Products With Vehicle Brand Names

GM Rolls Out F&I Products With Vehicle Brand Names

Beginning this month GM will roll out its F&I products, firstly though its dealerships in Ohio and then expanding nationwide by the end of this year. Steve Hill, vice president of customer care and aftersales for GM North America, said that GM will offer guaranteed asset protection, tire-and-wheel coverage policies […]

Opel Hopes to Boost Sales Through Opel Financial Services

Opel Hopes to Boost Sales Through Opel Financial Services

Opel expects to boost sales relying on cheaper leasing deals and loans after it has taken back in-house the German banking license. In April, GM Financial Company launched the new ‘Opel Financial Services’ brand, after it has bought back former financial services affiliate Ally Financial’s European and internationals operations. Ally […]

Ally Financial Reports $1.1 Billion Net Income for Q1

Ally Financial Reports $1.1 Billion Net Income for Q1

Ally Financial reported first quarter net income up by almost $800 million to $1.1 billion on one-time gain. Ally Financial announced that its core pre-tax loss reached $6 million during the first quarter from $111 million during the same period last year. Net income for Q1 was increased thanks to […]

Ally Financial to repay U.S. Treasury in full by 2014

Ally Financial to repay U.S. Treasury in full by 2014

Ally Financial will repay the U.S. Treasury for its bailout by 2014 on the strength of its auto-finance business, its CEO said. The second-largest remaining investment by the U.S. Treasury’s bailout fund, Ally Financial can make a significant payment this year toward the $14.6 billion still outstanding from the Treasury’s […]

Ally Financial posts Q4 profit as U.S. auto sales increase

Ally Financial posts Q4 profit as U.S. auto sales increase

Ally Financial, the biggest U.S. auto lender, posted a fourth-quarter profit as more consumers purchased cars and trucks. The company’s net income was $1.4 billion, compared with a loss of $206 million a year earlier, the company said today in a statement. Core pretax income was $19 million, rising from […]