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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                        | 27-6576000          |
|---------------------------------|---------------------|
| (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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|   | · | Custodial account reconciliations contained reconciling items that were not resolved within the required timeframe. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------|

|   | · | Payments made on pool assets were not properly allocated between principal and interest. |
|--------|--------|------------------------------------------------------------------------------------------|

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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 Auto Assets LLC dated as of September 10, 2009. |
|--------|---------|---------------------------------------------------------------------------------------------|

|   | • | Indenture between Ally Auto Receivables Trust 2010-2 (“Issuing Entity”) and Deutsche Bank Trust Company Americas, as Indenture Trustee (the “Indenture Trustee”), dated as of June 25, 2010. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Trust Agreement between Ally Auto Assets LLC, as Depositor, and BNY Mellon Trust of Delaware, as Owner Trustee, dated as of  June 25, 2010. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Pooling and Servicing Agreement among Ally Bank, as Seller, Ally Financial, as Servicer, and Ally Auto Assets LLC, dated as of June 25, 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 Deutsche Bank Trust Company Americas 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 Deutsche Bank Trust Company Americas dated February 25, 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 Auto Assets, LLC, as Depositor, and the Issuing Entity, dated as of June 25, 2010. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Custodian Agreement between Ally Financial, as Custodian, and Ally Auto Assets LLC, as Depositor, dated as of June 25, 2010. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------|

|   | • | Administration Agreement among the Issuing Entity, Ally Financial, as Administrator, and Indenture Trustee, dated as of June 25, 2010. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------|

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|   | Ally Auto Receivables Trust 2010-2                      |
|--------|---------------------------------------------------------|
|   |                                                    |
|   | 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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| Exhibit |   | Description                                                                                                                                                                                                          |   | Method of Filing |
|---------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------|
|    |   |                                                                                                                                                                                                                 |   |                       |
| 3.1     |   | Limited Liability Company Agreement of Ally Auto Assets LLC dated as of September 10, 2009.                                                                                                                          |   | **                         |
| 4.1     |   | Indenture between Ally Auto Receivables Trust 2010-2 (“Issuing Entity”) and Deutsche Bank Trust Company Americas, as Indenture Trustee (the “Indenture Trustee”), dated as of June 25, 2010. |   | *                          |
| 4.2     |   | Trust Agreement between Ally Auto Assets LLC, as Depositor, and BNY Mellon Trust of Delaware, as Owner Trustee, dated as of June 25, 2010.                                                                           |   | *                          |
| 4.3     |   | Pooling and Servicing Agreement among Ally Bank, as Seller, Ally Financial, as Servicer, and Ally Auto Assets LLC, dated as of June 25, 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 Deutsche Bank Trust Company Americas 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 Deutsche Bank Trust Company Americas, dated February 25, 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 Ally Financial, as Servicer, Ally Auto Assets, LLC, as the Depositor, and the Issuing Entity, dated as of June 25, 2010                                                     |   | *                          |
| 99.2    |   | Custodian Agreement between Ally Financial, as Custodian, and Ally Auto Assets LLC, as Depositor, dated as of June 25, 2010.                                                                                         |   | *                          |
| 99.3    |   | Administration Agreement among the Issuing Entity, Ally Financial, as Administrator, and Indenture Trustee, dated as of June 25, 2010.                                                                               |   | *                          |

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| * | Incorporated by reference to the corresponding Exhibit to the Issuing Entity’s Current Report on Form 8-K filed on June 22, 2010 (File No. 333-163392-03). |
|---|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ** | Incorporated by reference to Exhibit 3.1 of Ally Auto Assets LLC’s Form S-3 Registration Statement filed on November 27, 2009 (File No. 333-163392). |
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