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| þ | ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|-------------------------------------------------------------------------------------------|

|  ̈ | TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|-----------------------------------------------------------------------------------------------|

| DELAWARE                        | 27-6449246          |
|---------------------------------|---------------------|
| (State or other jurisdiction of | (I.R.S. Employer    |
| incorporation or organization)  | Identification No.) |

|  ̈ Large accelerated filer |  ̈ Accelerated filer | þ Non-accelerated filer |  ̈ Smaller Reporting Company |
|--------------------------------|--------------------------|------------------------------|----------------------------------|

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| Part I   |                                                                                                                 |         |
|----------|----------------------------------------------------------------------------------------------------------------------|--------------|
| Item 1.  | Business*                                                                                                            |         |
| Item 1A. | Risk Factors*                                                                                                        |    |
| Item 1B. | Unresolved Staff Comments                                                                                            |         |
| Item 2.  | Properties*                                                                                                          |         |
| Item 3.  | Legal Proceedings*                                                                                                   |         |
| Item 4.  | Submission of Matters to a Vote of Security Holders*                                                                 |         |
| Part II  |                                                                                                                 |         |
| Item 5.  | Market For Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities* |         |
| Item 6.  | Selected Financial Data*                                                                                             |         |
| Item 7.  | Management’s Discussion and Analysis of Financial Condition and Results of Operations*                         |         |
| Item 7A. | Quantitative and Qualitative Disclosures About Market Risk*                                                          |         |
| Item 8.  | Financial Statements and Supplementary Data*                                                                         |         |
| Item 9.  | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure*                                |         |
| Item 9A. | Controls and Procedure*                                                                                              |         |
| Item 9B. | Other Information                                                                                                    |         |
| Part III |                                                                                                                 |         |
| Item 10. | Directors, Executive Officers and Corporate Governance of the Registrant*                                            |         |
| Item 11. | Executive Compensation*                                                                                              |         |
| Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters*                      |         |
| Item 13. | Certain Relationships and Related Transactions and Director Independence*                                            |         |
| Item 14. | Principal Accountant Fees and Services*                                                                              |         |
| Part IV  |                                                                                                                 |         |
| Item 15. | Exhibits, Financial Statement Schedules                                                                              |         |

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|   | (a) | List the following documents filed as a part of the report: |
|--------|-----|-------------------------------------------------------------|

|   | (1) | Financial Statements — Not Applicable. |
|--------|-----|----------------------------------------------|

|   | (2) | Financial Statement Schedules — Not Applicable. |
|--------|-----|-------------------------------------------------------|

|   | (3) | Exhibits |
|--------|-----|----------|

|   | • | Limited Liability Company Agreement of Ally Wholesale Enterprises LLC dated as of February 3, 2010. |
|--------|---------|-----------------------------------------------------------------------------------------------------|

|   | • | Indenture Supplement between Ally Master Owner Trust (“Issuing Entity”) and Wells Fargo, National Association, as Indenture Trustee (the “Indenture Trustee”), dated as of February 12, 2010. |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Trust Agreement among Ally Wholesale Enterprises LLC, as Depositor, and HSBC Bank USA, National Association, as Owner Trustee, dated as of February 12, 2010. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Pooling and Servicing Agreement among Ally Bank, as Seller, Ally Financial, as Servicer, and Ally Wholesale Enterprises LLC, as Purchaser, dated as of February 12, 2010. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Series 2010-4 Indenture Supplement, between Issuing Entity and Indenture Trustee, dated August 26, 2010. |
|--------|---------|----------------------------------------------------------------------------------------------------------|

|   | • | Rule 13a-14(a)/15d-14(a) Certification (Section 302 Certification). |
|--------|---------|---------------------------------------------------------------------|

|   | • | Report on Assessment of Compliance with Servicing Criteria concerning activities of Ally Financial for the year ended December 31, 2010. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Report on Assessment of Compliance with Servicing Criteria concerning activities of Wells Fargo, National Association for the year ended December 31, 2010. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Registered Public Accounting Firm Attestation Report on Assessment of Compliance with servicing activities of Ally Financial dated March 9, 2011 for the year ended December 31, 2010. |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Registered Public Accounting Firm Attestation Report on Assessment of Compliance with servicing activities of Wells Fargo, National Association dated February 14, 2011 for the year ended December 31, 2010. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Servicer Compliance Statement of Ally Financial for the year ended December 31, 2010. |
|--------|---------|---------------------------------------------------------------------------------------|

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|   | • | Trust Sale and Servicing Agreement among Ally Financial, as Servicer, Ally Wholesale Enterprises LLC, as Depositor, and Ally Bank, as Seller, dated as of February 12, 2010. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Custodian Agreement between Ally Financial, as Custodian, Ally Wholesale Enterprises LLC, as Depositor, and Ally Bank, as Seller, dated as of February 12, 2010. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Administration Agreement among the Issuing Entity, Ally Financial, as Administrator, and Indenture Trustee, dated as of February 12, 2010. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------|

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|   | Ally Master Owner Trust                                 |   |
|--------|---------------------------------------------------------|--------|
|   |                                                    |   |
|   | by: Ally Financial, Inc.                                |   |
|   | (Servicer, not in its individual capacity but solely as |   |
|   | Servicer on behalf of the Issuing Entity)               |   |
|   |                                                    |   |
|   | /s/ David J. DeBrunner                                  |   |
|   | David J. DeBrunner                                      |   |
|   | Vice President, Controller and Chief Accounting Officer |   |
|   | Ally Financial Inc.                                     |   |
|   | (Senior Officer in charge of the servicing function)    |   |

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Table of Contents

| Exhibit |   | Description                                                                                                                                                                                                          |   | Method of Filing |
|---------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|
|    |   |                                                                                                                                                                                                                 |   |             |
| 3.1     |   | Limited Liability Company Agreement of Ally Wholesale Enterprises LLC dated as of February 3, 2010.                                                                                                                  |   | *                |
| 4.1     |   | Indenture between Ally Master Owner Trust (“Issuing Entity”) and Wells Fargo Bank, National Association, as Indenture Trustee (the “Indenture Trustee”), dated as of February 12, 2010.      |   | *                |
| 4.2     |   | Trust Agreement between Ally Wholesale Enterprises LLC, as Depositor, and HSBC Bank USA, National Association, as Owner Trustee, dated as of February 12, 2010.                                                      |   | *                |
| 4.3     |   | Pooling and Servicing Agreement among Ally Bank, as Seller, Ally Financial, as Servicer, and Ally Wholesale Enterprises LLC, as Purchaser, dated as of February 12, 2010.                                       |   | *                |
| 4.4     |   | Series 2010-4, Indenture Supplement between Issuing Entity and Indenture Trustee, dated August 26, 2010.                                                                                                             |   | **               |
| 31.1    |   | Certification of Executive Officer Pursuant to Rule 13a-14(a)/15d-14(a)                                                                                                                                              |   | Filed herewith.  |
| 33.1    |   | Report on Assessment of Compliance with Servicing Criteria concerning activities of Ally Financial for the year ended December 31, 2010.                                                                             |   | Filed herewith.  |
| 33.2    |   | Report on Assessment of Compliance with Servicing Criteria concerning activities of Wells Fargo, National Association for the year ended December 31, 2010.                                                          |   | Filed herewith.  |
| 34.1    |   | Registered Public Accounting Firm Attestation Report on Assessment of Compliance with servicing activities of Ally Financial dated March 9, 2011 for the year ended December 31, 2010.                               |   | Filed herewith.  |
| 34.2    |   | Registered Public Accounting Firm Attestation Report on Assessment of Compliance with servicing activities of Wells Fargo, National Association, dated February 14, 2011 for the year ended December 31, 2010.       |   | Filed herewith.  |
| 35.1    |   | Servicer Compliance Statement of Ally Financial for the year ended December 31, 2010.                                                                                                                                |   | Filed herewith.  |
| 99.1    |   | Trust Sale and Servicing Agreement among the Issuing Entity, Ally Financial., as Servicer and Custodian, Ally Wholesale Enterprises LLC, as Depositor, and Ally Bank, as Seller, dated as of February 12, 2010. |   | *                |
| 99.2    |   | Custodian Agreement between Ally Financial., as Custodian, Ally Wholesale Enterprises LLC, as Depositor, and Ally Bank, as Seller, dated as of February 12, 2010.                                               |   | *                |
| 99.3    |   | Administration Agreement among the Issuing Entity, Ally Financial, as Administrator, and Indenture Trustee, dated as of February 12, 2010.                                                                           |   | *                |
|    |   |                                                                                                                                                                                                                 |   |             |

|   |   |
|--------|--------|

| *  | Incorporated by reference to Ally Wholesale Enterprises LLC’s Form S-3 Registration Statement filed on May 24, 2010 (File No. 333-167044).  |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ** | Incorporated by reference to Exhibit 4.1 of Ally Master Owner Trust Form 8-K filed on August 30, 2010  (File No. 333-167044-1)               |

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