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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

August 21, 2014 - Industry News

Outstanding Auto Loan Balances Reach Record High, Experian Reports

The total dollar amount of automotive loan balances outstanding hit $839.1 billion in the second quarter of 2014, up 11.7% from the previous year. Officials said the industry should watch this trend closely, as it may dictate the availability of credit in the future.

Tags: auto loan, Delinquencies, Experian Automotive, Second Quarter

August 5, 2014 - Industry News

Ally Posts Near-Record Originations in Q2

The auto finance source also recorded record used-vehicle originations and grew its dealer network by more than 900 dealers in the second quarter.

Tags: Ally Financial, Michael A. Carpenter, Quarterly Earnings, Second Quarter

July 24, 2014 - Industry News

AutoNation Discusses CFPB, Digital Push

AutoNation reported during its second-quarter investor call that it has installed the NADA’s Fair Credit Compliance Program in nine stores. Officials also provided an update on the company’s digital push.

Tags: AutoNation, CFPB, digital marketing, F&I products, NADA, Quarterly Earnings, Second Quarter

August 8, 2013 - Industry News

Dealertrack Reports Strong Q2 Financial Results

Dealertrack updated its 2013 guidance to reflect strong second quarter performance and 26 percent year-over-year revenue growth.

Tags: 2013, automotive, Dealertrack, financial results, Mark F. O'Neil, Second Quarter

August 5, 2013 - Industry News

Edmunds.com: Used Sales Up for Franchised Dealers, Down Overall

Used-car sales are down for the first half of the year, but not within the franchise and CPO segments, Edmunds.com reveals.

Tags: 2013, automotive, Edmunds.com, Report, sales, Second Quarter, Used-Car Sales, vehicles

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