DETROIT — This morning, Ally Financial announced it will rebrand its GMAC consumer and dealer-related auto finance operations in the U.S., Canada and Mexico with the Ally name.

This follows the transition of the parent company to Ally Finance Inc. in May 2010. The rebranding of the auto finance operations will take place during August.

The company's U.S.-based auto finance products and services will transition from GMAC to Ally Financial on Aug. 23. The auto finance operations in Mexico and Canada will adopt the name Ally Credit on Aug. 16 and Aug. 23, respectively.

According to management, the Ally brand will be used for auto financing activities in the three North American markets, including activities to support General Motors, Chrysler, Saab, Thor Industries and Fiat Mexico.

"The move to the Ally name allows us to invest in a brand that we own and can build upon for the long term," explained Bill Muir, Ally president. "An ally is someone you rely on to support you, and our new brand embodies our 90-year heritage as a trusted finance source for the automotive industry."

In connection with the rebranding, Ally indicated it will be making a series of enhancements to the customer experience, which include:

—Simplifying and streaming consumer materials and online services to offer a more straightforward approach to auto financing.

—Investing in enhancements to the customer service process.

—Offering financial tools to simplify the payment calculation process.

—Providing opportunities to co-brand and customize certain consumer materials with information from the manufacturer and dealer.

"While our name has changed, our primary focus and core business continues to be automotive financial services," highlighted Muir. "Our dealer customers and auto partners can count on our ongoing commitment to their success."

Chris Liddell, chief financial officer for General Motors, pointed out, "As we enter an exciting new chapter in GM's history, Ally remains an important partner and auto financing provider for GM customers. We look forward to continuing that relationship."

Richard Palmer, CFO of Chrysler Group, added, "In taking over the financing of so many Chrysler dealers in such a short time Ally has shown itself to be a strong partner for Chrysler and our dealership network. Ally has proven to be a trusted and reliable source of financing with an in-depth knowledge of the auto industry."

Ally management pointed out that the company has extended more than $16 billion in credit to retail customers during the first half of 2010 in the U.S., Canada and Mexico, which represents an increase in originations of more than 120 percent from the first half of last year.

For the first six months of the year, the company extended an average of about $2 billion of credit per month to consumers in the U.S.

Management indicated there will be no change to current customer accounts or billing cycles.

Ally's auto financing operations outside of North America will continue to operate under the GMAC brand as options for further use of the brand are evaluated, the financial institution reported.