DETROIT -

Along with enhancing its consumer underwriting teams, Ally Financial declared today that it is increasing wholesale credit lines for dealers to take advantage of the U.S. auto market momentum.

Ally indicated that it expanded wholesale limits for more than 40 percent of its U.S. dealer clients in the first quarter.

“The flexibility in our credit line administration not only supports dealers, but also aligns with accelerated manufacturer production levels,” Ally Financial president Bill Muir stated.

“We are seeing strong demand for increased inventory financing for both new and used vehicles as dealers seek to fully stock their lots and maximize their sales potential,” Muir continued.

Ally attributed the market momentum to steady improvements in the economy, the ample availability of consumer credit, the interest in new and refreshed products coming to market and pent-up demand from consumers looking to replace their aging vehicles.

The company also announced today that it is increasing its U.S. underwriting team by 15 percent from year-end staffing levels to accommodate the greater volume of consumer financing applications.

“Our consumer underwriting teams now work seven days a week, with extended hours Monday through Saturday,” Muir mentioned.

The company said strategic hires have begun in key cities across the country, including Atlanta; Charlotte, N.C.; Chicago; Costa Mesa, Calif.; Detroit, Jacksonville, Fla.; Pittsburgh and Lewisville, Texas.

“It’s a great time to buy a car or truck,” Muir emphasized.

“We have attractive retail financing and lease programs in the market, including incentivized leases on 38 models for five manufacturers,” he went on to say. “There are also some great incentivized programs on certified used vehicles, so there’s something for everyone.”

Ally financed $9.7 billion in U.S. auto loans during the first quarter and had an average of $26 billion in dealer wholesale financing outstanding, up 10 percent from the same prior year period.