UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-D

ASSET-BACKED ISSUER

DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF

THE SECURITIES EXCHANGE ACT OF 1934

For the monthly distribution period from

December 1, 2014 to December 31, 2014

Commission File Number of issuing entity: 333-163392-11

Ally Auto Receivables Trust 2011-5

(Exact name of issuing entity as specified in its charter)

Commission File Number of depositor: 333-163392

Ally Auto Assets LLC

(Exact name of depositor as specified in its charter)

Ally Bank

(Exact name of sponsor as specified in its charter)



DELAWARE		45-6479777
(State or other jurisdiction of incorporation or organization of the		(I.R.S. Employer Identification No.)
issuing entity)



Ally Auto Assets LLC		48265
200 Renaissance Center, Detroit, Michigan		(Zip Code)
(Address of principal executive offices of the issuing entity)

(313) 656-5500

(Telephone number, including area code)

Registered / reporting pursuant to (Check One)



Title of Class	Section 12(b)	Section 12(g)	Section 15(d)	Name of Exchange
				(If Section 12(b))
Class A-1			X
Class A-2			X
Class A-3			X
Class A-4			X

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ý No o

PART I — DISTRIBUTION INFORMATION

Item 1. Distribution and Pool Performance Information

Distribution and pool performance information of the asset pool of the issuing entity is set forth in the attached monthly Statement to Securityholder.

Item 1121(c) of Regulation AB. Repurchases and Replacements

No activity to report for the Period from December 1, 2014 to December 31, 2014 as required by Item 1121(c) of Regulation AB.

Date of most recent Form ABS-15G: February 13, 2014

Central Index Key (CIK) of Securitizer: 0001477336

PART II — OTHER INFORMATION

Item 2. Legal Proceedings

None.

Item 3. Sales of Securities and Use of Proceeds

None.

Item 4. Defaults Upon Senior Securities

None.

Item 5. Submission of Matters to a Vote of Security Holders

None.

Item 6. Significant Obligors of Pool Assets

None.

Item 7. Significant Enhancement Provider Information

None.

Item 8. Other Information

None.

Item 9. Exhibits



EXHIBIT NO.		DESCRIPTION

99		Monthly Statement to Securityholder for the Period from December 1, 2014 to December 31, 2014

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.



	Ally Auto Receivables Trust 2011-5
	(Issuing Entity)

	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

Date: January 26, 2015

EXHIBIT INDEX



EXHIBIT NUMBER		DESCRIPTION

99		Monthly Statement to Securityholder for the Period from December 1, 2014 to December 31, 2014

Ally Auto Receivables Trust 2011-5 10-D