The magazine’s reader survey reveals that average profit per new vehicle retailed still hovers around $800, and that F&I managers are averaging approximately two products per deal.
The recession’s effects on the industry last year wasn’t lost on F&I, according to the National Automobile Dealers Association’s DATA report, which showed declines in aftermarket income, F&I and service-contract acceptance rates.
With dealers facing changing customer expectations, increasing demands from the factories and customer resistance to the sales process, eliminating the F&I department might seem like a good idea. Dealership consultant breaks down what life would be like without the F&I department, and the results aren’t pretty.
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