Mexican Media Brands
Ally Financial’s Quarterly Earnings Soar 70%
Ally Financial Inc. reports net income of $177 million in the fourth quarter compared with $104 million in October-December 2013.
#economics
Share
Ally Financial Inc. reports net income of $177 million in the fourth quarter compared with $104 million in October-December 2013.
Quarterly pretax income jumped to $229 million from $142 million a year earlier. Results were driven largely by a 45% hike in pretax earnings for the auto finance company's Dealer Financial Services unit.
For the full year, Ally boosted net income to $1.2 billion from $361 million in 2013. Pretax profit climbed to $1.4 billion from $606 million. The company says its finance business with non-General Motors and Chrysler dealers grew 45%.
RELATED CONTENT
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.