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Dealership Profits Decline
While new and used retail sales stagnated, dealerships have been particularly supported by fixed operations and finance-and-insurance profits, according to a new report.
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SEARCHMENUSEARCHWhile new and used retail sales stagnated, dealerships have been particularly supported by fixed operations and finance-and-insurance profits, according to a new report.
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On the same day Santander announced the departures of President Jason Grubb and COO of Originations Brand Martin, Exeter Finance Corp. announced the appointment of the two auto finance veterans to CEO and COO, respectively.
Read More →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.
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Organizers of Dealer Summit announced that Charlie Robinson, president and COO of the Resource Automotive division at The Warranty Group, will deliver the keynote address for F&I Think Tank.
Read More →Dealer review site DealerRater named Merchants Auto a 2016 Dealer of the Year, a title given to less than 0.1% of the more than 41,000 dealers in the DealerRater network.
Read More →CNA National Warranty Corp. (CNAN) announced this week it returned more than $40 million to dealers through its various participation plans in 2015, bringing the total amount of money the firm has returned to dealers since its founding to more than $370 million
Read More →F&I Express has added AssurancePlus to its network of aftermarket F&I providers. The addition will allow dealers to erate, econtract and eregister all of AssurancePlus’ F&I products.
Read More →VW Credit Inc. has partnered with Safe-Guard Products International to develop,, market an distribute a new line of Volkswagen-, Audi-, and Ducati-branded F&I products. The new line will be introduced to dealers on Jan. 1, 2017.
Read More →Asbury Automotive Group reported this week that it’s F&I operations realized a $55 per-copy increase in the fourth quarter, with the group averaging $1,426 in gross profit per vehicle retailed during the end-of-year quarter.
Read More →Hyundai and Acura took the top honors, winning the competition's Best Brand and Best Luxury Brand awards, respectively. The contest looks at a vehicle’s depreciation, fuel costs, finance and insurance fees, maintenance and repair costs, and state fees to find its winners.
Read More →Cox Automotive has named Zambezi as its lead creative agency for its Autotrader and Kelley Blue Book brands. Zambezi will work with both companies to help change the way they collectively approach marketing and communications for consumers.
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