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.
May 7, 2015
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.
May 7, 2015
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
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.
April 23, 2015
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
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
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
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
Consolidating its lender base and improved availability of consumer financing were other reasons cited for the fourth-quarter performance of the group’s U.S.-based F&I operations.
February 12, 2015
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
GM Financial officials said Ally shouldn’t be surprised by GM’s decision to internalize its lease program. The company ended the year with a 50% share of GM’s lease business.
February 5, 2015
During a quarterly earnings conference call last week, Ally’s former CEO opened up about General Motors’ unexpected decision to move all of its lease incentives to its captive, GM Financial.
February 3, 2015
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
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.
October 23, 2014
Officials said the Charlotte test store was overwhelmed by sales and paperwork. F&I performance rebounded, however, after the group added document specialists.
October 23, 2014
The dealer group’s U.S. F&I operations raised its per-copy average $91 to $1,442 in the second quarter. On a year-to-date basis, the group's per-copy average rose $128 from a year ago to $1,499.
July 29, 2014
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