Ally Financial Inc. is doing more leasing, more used-vehicle loans and more loans to dealerships with brands other than those of General Motors and Chrysler, all in line with a strategy it previously laid out.
"We continue to diversify our originations away from GM and Chrysler," CEO Michael Carpenter said during the company's conference call last week discussing first-quarter earnings.
He said dealerships with brands other than GM's and Chrysler's accounted for 19 percent of Ally's originations in the first quarter, an increase of 40 percent from the year-earlier period.
Ally's total originations fell 5 percent in the first quarter to $9.2 billion, in part because of drops in Chrysler business and in subvented new-vehicle loans for GM. Carpenter said Ally has held back from boosting volume by buying riskier loans.