An F&I manager from New York asks the magazine’s resident F&I pro how achieving a $1,600 per-copy average is even possible. He responds with strategies employed by the Top 25 F&I operations in the nation.
Group 1 Automotive's U.S. F&I operations realized a 4% increase in F&I profit per retail unit, with the group's per-copy average settling in at $1,525 in 2015's end-of-year quarter.
Training, improving the performance of the group’s bottom-third producers and increased product penetration were drivers of the group’s Q3 per-copy increase, which stood at $1,362.
Dealers would do well in aligning F&I pay plans with their objectives. But as the magazine’s newest contributor explains, adding another wrinkle to F&I pay plans may not be the best thing.
F&I managers love to tout their profit per retail unit, but the “Father of F&I Menus” says there’s a more accurate way to measure performance.
Asbury was firing all cylinders during the third quarter, with the 77-rooftop dealer group reporting revenue and profit increases of 14 and 68 percent, respectively.
F&I performance helped both dealer groups realize strong profit gains in the second quarter, with Group 1 realizing another record-setting quarter in finance and insurance.
VisionMenu Inc. has added a new feature to its VisionMenu Plus and VisionReport software that will allow dealers to track their F&I department’s profit per retail unit when the menu is and isn’t used.
F&I’s new columnist questions those one-size-fits-all strategies and says it’s time for dealers to take back their markets.
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