ALLY Is No Tricolor

Ally Financial has just released its third-quarter 2026 results, providing fresh context for the rising auto-loan delinquencies reported by American Banker. Ally originated $12.9 billion in consumer auto loans during the quarter, up 10% year over year, while its 30-day-plus delinquency rate rose six basis points to 4.96%. Retail auto net charge-offs edged up just one basis point to 1.89%.

The numbers show why delinquencies need to be viewed alongside portfolio growth. Ally’s consumer auto loan assets increased $6.3 billion year over year to $99.9 billion, while total auto earning assets climbed $10.2 billion to $125.6 billion. Credit-loss provisions also increased, reflecting asset growth and the reserves associated with it. Meanwhile, Ally reported $401 million in net income attributable to common shareholders, up 8% from the same quarter last year.

For the collateral recovery industry, the distinction matters. Rising delinquencies deserve attention, but Ally’s figures show a growing lending operation with relatively stable year-over-year charge-off rates. Comparing every lender experiencing higher delinquencies to Tricolor misses the bigger picture. Ally’s delinquencies are rising alongside its originations and portfolio expansion. That is a very different story from financial distress, and the latest quarterly results provide little basis for treating the two situations as equivalent.