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%.
April 26, 2016
TrueCar CEO Scott Painter has announced that he will vacate his post in the wake of second quarter losses of nearly $15 million.
August 6, 2015
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 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
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
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