In the 2009 Dealer Financing survey a year ago, GMAC shared the cellar with Chrysler Financial. Chrysler Financial fell out of this year's survey ranking because it wasn't making new loans in the survey period, a J.D. Power spokesman said. Ally now is Chrysler's preferred lender.Paul Cuevas, director of automotive finance at J.D. Power, said Ally probably would do better if the survey were held today. "If you did this now, it would be a complete reverse for GMAC," he said in a July 29 phone interview.
According to Experian Automotive, Ally more than doubled its market share of both new- and used-vehicle loans in the first quarter compared with a year ago.
Ally Financial reported that in the first quarter of 2010 it originated $8.2 billion in loans and leases. That was more than double the year-ago quarter. But the first quarter of 2010 still was down 46 percent from the first quarter of 2008.
"We're going to work to improve these rankings," said Tony Sapienza, an Ally spokesman, in a July 30 phone interview. "But we think the results (today) are different from what the survey reflects."Cuevas of J.D. Power said dealer priorities can change in tough times -- for instance, loyalty makes its way up the list of dealer priorities, possibly even ahead of rates.
Ed Robinson, CEO of BMW Financial, said his company was No. 1 in floorplan, despite the fact that the company raised rates during the U.S. credit crisis last year and doesn't use free flooring as a form of incentive.
"During the collapse we actually raised our (floorplan) rate. Money was becoming more expensive, credit was getting tighter, so we raised rates. We told our dealers we were going to do it, and we did it," Robinson said. "It's not a cheap game."