Ally Beats Estimates With Auto-Loan Demand Staying Strong

Ally Financial Inc. reported earnings that beat estimates, fueled by consumers purchasing more cars even as gas prices rose.

The company reported $11.5 billion in car-loan originations, more than the $10.5 billion average estimate from analysts. About 66% of those loans were tied to used cars, the online bank said Friday in a statement. Customers filed a record 4.4 million auto-loan applications.