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Net
income fell to $268 million, or 47 cents per share, in the third
quarter ended Sept. 30 from $423 million, or 74 cents per share,
a year earlier.
Excluding items, the company earned 51 cents per share, in line
with analysts' average estimate, according to Thomson Reuters
I/B/E/S.
Total auto loans made by Ally were down 6 percent at $11.1
billion.
Income from auto financing fell 16.4 percent to $347 million,
while income from dealer financing decreased 18.5 percent to
$387 million.
The company has been trying to boost its market share by
financing cars made by Ford Motor Co and Nissan Motor Co Ltd
after General Motors Co replaced Ally as the exclusive
lessor for Buick, GMC and Cadillac vehicles in February.
Up to Wednesday's close of $20.70, Ally's stock had lost about
12 percent this year.
(Reporting by Rachel Chitra in Bengaluru; Editing by Don
Sebastian)
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