Ally Financial’s quarterly report shows growth for the company and its network, but also reveals the impact of the company’s settlement with the CFPB and DOJ, as well as its ResCap bankruptcy plan.
The Los Angeles Business Journal released its annual ‘Top 100 Fastest Growing Private Companies’ list. On it was Westlake Financial Services, which came in at No. 54.
First-quarter net income was up 26.5 percent for the dealer group, while total gross profit grew 15.4 percent on 18 percent higher revenues.
Most of the major dealer groups posted big gains in the fourth quarter and for the full-year 2012. One group reached an all-time high of $1,215 in F&I gross profit per retail unit.
Lithia reported higher profits and revenues for the third quarter. Highlights include a 36.4 percent increase in F&I revenues.
Penske Automotive Group reports record second-quarter income from continuing operations and earnings per share.
AutoNation, Asbury and Sonic report solid second-quarter gains behind rising consumer demand and better credit conditions.
Asbury Automotive Group Inc. reported adjusted income from continuing operations for the fourth quarter 2011 of $17 million, up from $12.2 million during fourth quarter 2010.
Customer retention isn’t the only thing prepaid maintenance plans drive. With the right product mix, they also can add serious revenue to your store’s bottom line.
Every dealership is short staffed at times due to vacations, leaves of absence, resignations or terminations. Access to highly-trained substitutes keeps operations flowing and can even improve profitability.
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