WASHINGTON, D.C. — According to a report from the U.S. Treasury Department released Monday, the government lost a total of $9.26 billion on its bailout of the auto industry during the Great Recession. The program closed after the Treasury sold its final shares of Ally Financial on Dec. 19, The Detroit News reports. The Treasury ... Read More »
The government is selling the last of its shares in Ally Financial Inc., the former financing arm of General Motors that was bailed out during the financial crisis, reported MLive. Detroit-based Ally said Thursday that the Treasury Department is selling its remaining 54.9 million shares. That amounts to about an 11 percent stake in the ... Read More »
DETROIT — Ally Financial has launched a new tool to help consumers decide whether buying or leasing might be their best option when shopping for a vehicle. Available for free on Ally’s website, the interactive buy or lease tool will help arm consumers with the right information to start the vehicle financing process, officials said. ... Read More »
WASHINGTON — Last week, the U.S. Department of the Treasury announced that it would continue to wind down its investment in Ally Financial by selling additional shares of common stock through its first pre-defined written trading plan. The Treasury currently holds 75,065,340 shares, or approximately 16% of Ally common stock. “Treasury’s sale of additional Ally ... Read More »
NEW YORK — In the second quarter, Ally Financial Inc.’s auto franchise posted its second highest level of consumer auto originations in its history. The feat was driven by record decision applications and used-vehicle originations. Consumer financing originations totaled $10.9 billion for the quarter, up 11% year over year. The originations were comprised of $4.7 ... Read More »
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