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TAG SEARCH RESULT: Asbury Automotive

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October 31, 2017 - Industry News

Asbury: Q3 Revenue, Gross Profit Down Due to Hurricanes

Total revenue and gross profit were down 5% and 2% from a year ago, respectively, with Hurricane Irma having a significant impact on sales in the group’s core Florida and Georgia markets. F&I was a bright spot, with total gross profit up 4% and the group’s per-copy average increasing by $142 from a year ago to $1,547.

Tags: Asbury Automotive, F&I profit, Hurricane Harvey, Hurricane Irma, new-vehicle sales, public dealer, used-vehicle sales

August 28, 2017 - Industry News

Asbury’s Monaghan to Retire; Successor Named

Craig Monaghan will step down as Asbury's president and CEO on Jan. 1 after nine years as the group's chief executive. David Hult, the company’s COO since November 2014, was named his successor.

Tags: Asbury Automotive, Craig Monaghan, David Hult, employment, hires

May 8, 2017 - Industry News

Asbury Appoints New CFO

Certified public accountant Sean D. Goodman was appointed senior vice president and CFO of the group. He previously served as vice president, chief accounting officer and CFO for Unifi Inc., a textile solutions manufacturer and distributor listed on the New York Stock Exchange.

Tags: Asbury Automotive

April 6, 2017 - Industry News

FTC Approves Settlements With CarMax, Asbury, West-Herr

The Federal Trade Commission last week approved settlements with CarMax, Asbury Automotive, and West-Herr Automotive Group, which the regulator charged with failing to disclose that some pre-owned vehicles offered for sale had unrepaired safety recalls despite the companies' claims of rigorous vehicle inspections.

Tags: Asbury Automotive, CarMax, Federal Trade Commission, GM Recalls, NHTSA, Recalls, Takata, West-Herr Automotive

February 8, 2017 - Industry News

F&I Delivers for Asbury in Q4 2016

The group’s F&I operations posted a $60 increase in F&I profit per vehicle retailed during a quarter in which the nation’s eighth largest auto retailer chose volume over margin.

Tags: Asbury Automotive, F&I products, F&I profit per vehicle retailed, new-vehicle sales, used-vehicle sales

December 19, 2016 - Industry News

CarMax, Asbury, West-Herr Automotive Settle FTC Recall Advertising Charges

The three retailers agreed to settle FTC charges that they touted rigorous inspections while failing to disclose that some vehicles were subject to unrepaired safety recalls. The FTC also finalizes orders against GM and two other sellers in similar cases settled earlier this year.

Tags: Asbury Automotive, CarMax, Deceptive Advertising, Federal Trade Commission, vehicle recall, West-Herr Automotive

November 9, 2016 - Industry News

Asbury: F&I Experiences "Small Setback" in Q3

Asbury Automotive COO David Hult called the group's F&I performance in the third quarter a "small setback" compared to previous quarters, noting that he remains hopeful for the coming quarter.

Tags: Asbury Automotive, F&I, Quarterly Earnings, Third Quarter

October 6, 2016 - Industry News

Asbury Opens Nissan Location in Atlanta

Image courtesy of Nissan.

The public dealer group staged a grand opening for its new Nalley Nissan of Atlanta location on Sept. 29. It's the first U.S. dealership to feature the OEM's new Nissan Retail Environment Design Initiative, or NREDI 2.0.

Tags: Asbury Automotive, Dealership, Nissan

August 17, 2016 - Industry News

Asbury: 'Choppy' Retail Environment Drives Down Q2 F&I Gross Profit

Asbury increased its F&I per-copy average 3% to $1,436 in the second quarter. But total F&I gross profit fell due to a 'Choppy' retail environment, officials said.

Tags: Asbury Automotive, F&I, new-vehicle sales, Quarterly Earnings, Second Quarter, used vehicles

February 11, 2016 - Industry News

Asbury: ‘Favorable Lending Environment” Spurs 9% Gain in Q4 F&I Revenue

Asbury Automotive Group reported this week that it’s F&I operations realized a $55 per-copy increase in the fourth quarter, with the group averaging $1,426 in gross profit per vehicle retailed during the end-of-year quarter.

Tags: Asbury Automotive, Fourth Quarter, PVR, Quarterly Earnings, Vehicle Sales

October 29, 2015 - Industry News

Asbury Realizes $28 Increase in Q3 F&I PVR

Training, improving the performance of the group’s bottom-third producers and increased product penetration were drivers of the group’s Q3 per-copy increase, which stood at $1,362.

Tags: Asbury Automotive, F&I manager, F&I products, F&I profit per vehicle retailed, PRU, PVR

July 23, 2015 - Industry News

Asbury ‘Comfortable With’ CFPB Limits on Dealer Markup

Asbury Automotive executives were confident that the dealer group’s internal caps on dealer markup and its fixed F&I product prices will keep it safe from any actions by regulators.

Tags: Asbury Automotive, CFPB, Consumer Financial Protection Bureau, Flat Fees, Quarterly Earnings, rate markup

April 21, 2015 - Industry News

Asbury’s Q Auto Stores a Work in Progress

The tablet-driven, fixed-price F&I process at Asbury’s Q Auto stores didn’t perform as well as the traditional F&I process employed at the group's core stores, but officials said they are happy with the new format’s progress.

Tags: Asbury Automotive, F&I process, First Quarter, mobile menu, Quarterly Earnings, used vehicles

February 12, 2015 - Industry News

Asbury Posts Record Earnings in Q4 2014

Fourth-quarter F&I net per vehicle retailed rose $30 from a year ago to $1,374 for the public dealer group. That performance helped drive record earnings during the quarter.

Tags: Asbury Automotive, F&I profit, Quarterly Earnings, used vehicles

October 23, 2014 - Industry News

Asbury’s F&I Per Copy Average Rises $22

F&I gross profit per retail unit grew to $1,337 on a same-store basis for the publicly traded dealer group, but the performance of the operation’s parts and service segment was the big story in the third quarter.

Tags: Asbury Automotive, F&I profit, Quarterly Earnings, Third Quarter

July 29, 2014 - Industry News

Asbury Reports Record Second Quarter

The dealer group reported a 21% increase from last year’s adjusted income from continuing operations, as well as a 12% increase in total gross profit.

Tags: Asbury Automotive, F&I products, Quarterly Earnings

April 24, 2014 - Industry News

Asbury Posts Record First Quarter

The group reported during it quarterly conference call that earnings per share were up 34% from the year-ago quarter, an all-time record for the group. On the same day, Executive Vice President and COO Michael Kearney announced his retirement.

Tags: Asbury Automotive, F&I, profit, public dealer, Quarterly Earnings

February 20, 2014 - Industry News

Group 1 to Implement NADA Fair Lending Plan

The dealer group not only endorses the association’s fair lending plan, it plans to implement the program in the next several months, officials confirm.

Tags: Asbury Automotive, compliance, Consumer Financial Protection Bureau, Group 1 Automotive, NADA, Penske Automotive Group, Quarterly Earnings

February 6, 2014 - Industry News

Asbury ‘Very Confident’ About Meeting CFPB’s Requirements

Asbury Automotive Group, which reported a record fourth quarter, does not plan to alter any business practices in response to the CFPB’s scrutiny of rate participation programs. Officials reveal that the dealer group already has already adopted many of the regulator's recommendations.

Tags: Asbury Automotive, CFPB, compliance, Consumer Financial Protection Bureau, Fourth Quarter, NADA Convention & Expo, National Automobile Dealers Association, Quarterly Earnings

February 4, 2014 - Industry News

Asbury Automotive Reports Record Fourth Quarter

Asbury Automotive reported a total revenue increase of 13% in the fourth quarter 2013, compared to 2012. Officials expect continued growth in 2014 thanks to a healthy automotive retail environment.

Tags: Asbury Automotive, Fourth Quarter, profit, Quarterly Earnings

February 4, 2014 - Industry News

Asbury Auto Group Implements StoneEagle Platform

Asbury Automotive Group has implemented StoneEagle’s SEcureMetrics F&I and sales reporting platform in all 80 of its dealerships.

Tags: Asbury Automotive, DMS integration, F&I, sales, StoneEagle Group

December 17, 2013 - Industry News

Asbury Appoints New CFO

Asbury Automotive Group Inc. appointed Keith R. Style as its new CFO. He will assume his new role on Jan. 1, following Scott Krenz’s retirement.

Tags: Asbury Automotive, Hiring

October 24, 2013 - Industry News

Public Groups Report Solid F&I Performance for Q3

Lithia officials said the group is focused on increasing F&I performance, while officials with Sonic announced the launch of a new initiative that will have “guest advocates” handle transactions from start to finish. Asbury reported a per-copy average of $1,305 during the third quarter.

Tags: Asbury Automotive, Brittany-Marie Swanson, F&I, Lithia Motors, Quarterly Earnings, Sonic Automotive

July 25, 2013 - Industry News

Q2 PRU Averages Eclipse $1,300 for Some Public Groups

Dealer group execs showcase big gains in average PRUs, say they're prepared for whatever action the CFPB takes with respect to dealer participation.

Tags: Asbury Automotive, CFPB, Gregory Arroyo, Group1 Automotive, Sonic Automotive

February 21, 2013 - Industry News

Major Dealer Groups Prepare to Top Records Set in 2012

Most of the major dealer groups posted big gains in the fourth quarter and for the full-year 2012. One group reached an all-time high of $1,215 in F&I gross profit per retail unit.

Tags: 2012, annual, Asbury Automotive, AutoNation, F&I, Finance, Fourth Quarter, Group1 Automotive, insurance, Lithia Motors, Penske Automotive Group, Revenue, Sonic Automotive

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