Auto dealers drive third-quarter profits higher at Ally Financial

Commercial auto loan balances, which includes the financing of dealers' inventories, real estate and other operations, increased around 11 percent to around $31 billion. Ally made $11.8 billion in consumer auto loans in the third quarter, up 23 percent from a year earlier. Ally set aside $109 million for future loan defaults, 38 percent less than a year earlier, even as the share of borrowers who were behind on their payments rose to 2.28 percent from 2.10 percent. Analysts had forecast that Ally would earn 41 cents a share in the quarter, according to consensus estimates compiled by Thomson Reuters I/B/E/S.

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