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TAG SEARCH RESULT: Quarterly Earnings

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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

November 3, 2016 - Industry News

Sonic: Q3 'Operationally Challenging'

F&I, used retail sales, and fixed ops helped dampen Sonic's third quarter declines in volume and gross profit per unit (GPU) retailed. The group also reported that its EchoPark locations increased their F&I per-copy average by 16.3% to $1,078. Overall, the group's F&I operations averaged $1,341 per copy during the period.

Tags: F&I, Quarterly Earnings, Sonic Automotive, Third Quarter, used vehicles

November 1, 2016 - Industry News

AutoNation Continues Living Above $1,600 Per-Copy in Q3

For the third time this year, AutoNation's F&I department has cracked the $1,600 per-copy mark. But the big news is the group's intention to open used-only dealerships in 2017. They will be called AutoNation USA stores, and will feature noncommission-based sales associates and negotiation-free pricing.

Tags: AutoNation, Financial Report, Q3, Quarterly Earnings

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

August 2, 2016 - Industry News

Ally Financial Moving More Downstream Into Higher Risk Tiers

During Ally Financial's second quarter earnings call, company officials said the finance source is moving downstream into the higher risk, higher yield credit tiers and focusing less on the low-risk superprime loans.

Tags: Ally, Quarterly Earnings, Second Quarter, Super Prime

July 28, 2016 - Industry News

EchoPark, F&I Offset Sagging Sales Numbers for Sonic in Q2

Poor retail sales were offset by a 3.1% increase in total F&I gross profit and a 40.5% increase in revenue at Sonic Automotive's EchoPark locations. While declining oil prices have hurt the company's performance in the Houston market, officials are confident the group will recover.

Tags: EchoPark, F&I, Quarterly Earnings, Second Quarter, Sonic Automotive

July 26, 2016 - Industry News

GM Financial Maintains ‘Credit and Pricing Discipline’ in Q2

Despite a competitive subprime auto finance environment, GM Financial continued gravitating toward a more prime-like credit profile during the second quarter.

Tags: GM Financial, Prime, Quarterly Earnings, Second Quarter, subprime

July 26, 2016 - Industry News

Q2 Auto Originations Total $8.3 Billion for Wells Fargo

Wells Fargo reported second quarter auto originations of $8.3 billion, a 7% gain from the first quarter of the year and a 2% gain from the year prior. Bank officials, however, reported higher delinquencies and net charge-offs.

Tags: Auto Loans, Quarterly Earnings, Second Quarter, Wells Fargo

April 26, 2016 - Industry News

F&I, Fixed Ops Lead the Way for Sonic in Q1 2016

Record F&I and fixed-ops gross profit helped Sonic Automotive offset low vehicle sales. But the big story for the publicly traded dealer group was the performance of the F&I offices at its one-touch EchoPark dealerships. They increased their per-copy averages by 54.1%.

Tags: EchoPark, Quarterly Earnings, Quarterly Report, Sonic Automotive

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

November 4, 2015 - Industry News

Group 1's F&I Per-Copy Average Jumps $65 in the U.S. Market

While the international dealer group's consolidated per-copy average grew $27 to $1,352 in the third quarter, it's U.S.-based F&I operations saw its per-copy average rise $65 to $1,515. For the first nine months of 2015, the group's per-copy average is $1,529.

Tags: F&I, F&I profit, Group 1 Automotive, Quarterly Earnings

November 3, 2015 - Industry News

AutoNation Posts $146 Q3 Increase in F&I Per-Copy Average

The group averaged $1,549 in F&I profit per vehicle retailed in the third quarter. Company officials noted that new-vehicle PVRs from self-generated sales, including F&I contributions, were about $800 higher than new-vehicle PVRs from sales generated by third-party lead providers.

Tags: AutoNation, Quarterly Earnings, Third Quarter, TrueCar

October 20, 2015 - Industry News

Q3 Auto Originiations Up at Wells Fargo, Chase Auto Finance

Wells Fargo and Chase Auto Finance grew third-quarter auto originations by 10% and 19%, respectively, with a Wells Fargo official noting that new auto sales were at their highest levels in a decade.

Tags: auto loan origination, Auto Loans, JP Morgan Chase, Quarterly Earnings, Wells Fargo

August 6, 2015 - Industry News

TrueCar’s Painter to Step Down

TrueCar CEO Scott Painter has announced that he will vacate his post in the wake of second quarter losses of nearly $15 million.

Tags: AutoNation, Quarterly Earnings, Scott Painter, TrueCar

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

July 23, 2015 - Industry News

AutoNation’s Jackson Urges Other Lenders to Follow Honda Financial’s Lead

The group’s chief executive reiterated his support for Honda Financial’s new dealer markup caps. He said the policy should serve as a template for the rest of the auto finance industry.

Tags: AutoNation, captive finance, CFPB, Consumer Financial Protection Bureau, Department of Justice, F&I products, Mike Jackson, Quarterly Earnings, rate markup

July 23, 2015 - Industry News

GM Financial's Penetration of GM Retail Sales Grows Globally in Q2

GM Financial's transformation from subprime finance source to GM's captive finance company continued in the second quarter, with GM new-vehicle loans and leases accounting for 83.5% of total originations during the period.

Tags: Auto Lending, General Motors, GM Financial, leasing, Quarterly Earnings, subprime lending

July 21, 2015 - Industry News

Sonic Cautious About CFPB, But Revs Up Hybrid F&I Push

Sonic executives said the company is delaying plans to launch a captive finance company in light of the CFPB’s recent settlement with Honda Finance. But the group has given the go-ahead for the first phase of its much-delayed hybrid sales process.

Tags: One Sonic-One Experience, Quarterly Earnings, Sonic Automotive

May 7, 2015 - Industry News

Group 1’s U.S. F&I Operations Achieves Record PVR Average

The international dealer group’s U.S. F&I operations grew its F&I per-copy average $80 from a year ago to a record $1,538. Training and execution were the drivers, officials said.

Tags: F&I, F&I profit, First Quarter, Group 1 Automotive, Quarterly Earnings

May 7, 2015 - Industry News

Sonic Delays Further Rollout of Hybrid Process

Sonic executives said that until the group perfects its vehicle-pricing tool, the One Sonic-One Experience initiative will not expand beyond the five stores currently employing the program's hybrid sales and F&I process.

Tags: First Quarter, hybrid manager, One Sonic-One Experience, Quarterly Earnings, Sonic Automotive

April 23, 2015 - Industry News

Lithia’s Drop in New-Vehicle Gross Per Unit Offset by Q1 F&I Performance

Lithia’s F&I operations grew its per-copy average by $52. The performance helped offset a $90 drop in new-vehicle gross profit per unit.

Tags: F&I profit, First Quarter, Lithia, Lithia Motors, Quarterly Earnings

April 23, 2015 - Industry News

AutoNation's PVR Average Surpasses $1,500

For the first time, the public dealer group’s F&I profit per deal average surpassed the $1,500 mark. Officials said the company will continue to emphasize F&I product sales as it preps for the launch of an AutoNation-branded maintenance contract later this year.

Tags: AutoNation, CFPB, Consumer Financial Protection Bureau, F&I products, First Quarter, Maintenance plan, Mike Jackson, Online Buying, Quarterly Earnings

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

April 16, 2015 - Industry News

Wells Pulls Back, Chase Sees Thinner Margins

The country’s largest auto lender, Wells Fargo, tempered its auto lending activities in 2015’s first quarter, with new originations down 10% from the previous year. Also reporting was J.P. Morgan Chase, which increased originations by 9%.

Tags: auto loan origination, Auto Loans, J.P. Morgan Chase, Quarterly Earnings, Wells Fargo

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

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