Ally

GM agrees to buy Ally's European auto-finance business

Nov. 21, 2012 22:59 CET
General Motors agreed to buy the rest of Ally Financial Inc.'s international auto-finance businesses, including operations in Europe, in a deal with proceeds of $4.2 billion.... Read More »

 

GM Financial agrees to buy Ally's international auto-finance business

4:59 pm U.S. ET | Nov. 21, 2012
General Motors agreed to buy the rest of Ally Financial's international auto-finance businesses in a deal with proceeds of $4.2 billion as the carmaker seeks to spur rebounds in Europe and South America.... Read More »

 

JIM HENRY

Nissan captive, other lenders step up after Sandy

12:01 am U.S. ET | Nov. 7, 2012
Based on an unscientific round of calls, F&I managers at Nissan and Infiniti dealerships may have the best post-Hurricane Sandy finance offer: Current customers whose cars were totaled are eligible for employee pricing on new vehicles on top of existing factory incentives.... Read More »

 

Chrysler close to lender agreement in U.S., Marchionne says

12:43 pm U.S. ET | Sept. 28, 2012
Chrysler Group is close to an agreement to replace Ally Financial as its primary lender to dealers and customers, CEO Sergio Marchionne said in an interview.... Read More »

 

GM to bid for Ally's Europe, Latin America operations

4:49 pm U.S. ET | Sept. 19, 2012
GM is preparing to bid this week for Ally Financial's auto-lending arms in Europe and Latin America, said three people with knowledge of the matter. GM isn't pursuing an offer for Ally's Canadian operations or its Mexican auto insurer, said the people, who spoke on condition of anonymity because the talks are private.... Read More »

 

FINANCE & INSURANCE

Survey: Ally gets back to dealers fastest

12:01 am U.S. ET | Sept. 10, 2012
When it comes to speedy responses, Ally leads the pack by a wide margin, according to an unscientific online survey of dealership personnel by Automotive News.... Read More »

 

GM bid for Ally units highlights quandary of U.S. bailout

4:31 pm U.S. ET | Aug. 16, 2012
GM, partly owned by the U.S. Treasury, is seeking to buy international operations from auto lender Ally Financial, which ironically wants to use the proceeds to help repay its own federal bailout aid. With almost $33 billion in cash and marketable securities at the end of the second quarter, GM has the money to pursue such an acquisition. But analysts and investors disagree on whether that would be the best use of cash, with some preferring a stock buyback or dividend payment.... Read More »

 

Treasury appoints two directors to Ally Financial board

3:11 pm U.S. ET | Aug. 15, 2012
The Treasury Department today named two directors to the board of Ally Financial, the auto lender which is still 74-percent owned by the federal government after a series of bailouts during the financial crisis.... Read More »

 

GM unit bids for Ally international businesses

10:22 am U.S. ET | Aug. 13, 2012
General Motors has made a bid for Ally Financial's international operations, about two months after CEO Dan Akerson said he'd like to buy the business. GM's lending unit, GM Financial, bid on Ally's international operations last month, GM said in a filing with U.S. securities regulators. GM Financial and "a number of third parties" are in "the preliminary stages of the bid process investigation," the automaker said.... Read More »

 

Ally's auto business rises in Q2, but mortgage losses put company in red

8:49 am U.S. ET | Aug. 1, 2012
Ally Financial today reported higher auto originations and higher pre-tax income for its North American auto business, but the company posted an overall net loss of $898 million for the second quarter, due to its failed Rescap mortgage business.... Read More »

 

GM, Ally exit plan needed for U.S. Treasury, says government watchdog

10:21 am U.S. ET | July 10, 2012
Market conditions have slowed the Treasury's progress in selling stakes in General Motors and Ally Financial, its one-time consumer financing arm, but the Obama administration should develop a solid plan for doing so, a government watchdog told a House panel today.... Read More »