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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.

July 21, 2015

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.

May 7, 2015

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.

April 23, 2015

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.

April 21, 2015

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%.

April 16, 2015

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.

February 12, 2015

AutoNation Posts Record Fourth Quarter

The dealer group realized its 17th consecutive quarter of double-digit year-over-year growth in earnings per share, with net income from continuing operations reaching a record $117 million in the end-of-year quarter.

February 5, 2015

Ally ‘Highly Confident’ About Overcoming Boot From GM Leasing Program

AutoNation to Cut Spending on Third-Party Lead Providers

The dealer group reported this week that its F&I operations achieved a record per-copy average of $1,401 in the third quarter. Officials also announced plans to cut spending on third-party lead providers 'every quarter' in order to invest in its own online presence.

October 30, 2014

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.

July 29, 2014

Acquisitions Drive 46% Revenue Increase for Dealertrack

Acquisitions Drive 46% Revenue Increase for Dealertrack

Dealertrack officials reported this week that average monthly subscription revenues from dealers were up 30% in the first quarter, thanks in part to the company’s recent acquisition of Dealer.com. Company officials also revealed plans to combine Dealer.com’s CRM capabilities with Dealertrack's own offering to produce a single solution.

May 15, 2014

Lithia Posts Record Revenues for 2013

The company’s revenues exceeded $1 billion in the fourth quarter and $4 billion for the full year. Its F&I operations also posted increases in F&I penetrations and profit per retail unit.

February 20, 2014

Penske Holds Off on Adopting NADA Compliance Program

Officials with Penske Automotive Group, which reported a record fourth quarter, said the operation will “wait and see” when it comes to adopting the NADA’s new fair lending compliance program.

February 18, 2014

TD Bank to Trim U.S. Dealer Network

TD Bank officials said the company will trim down its 9,000 member U.S. dealer network in order to provide better service.

December 17, 2013