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While the international dealer group's consolidated per-copy average grew $27 to $1,352 in the third quarter, it's U.S.-based F&I operations saw its per-copy average rise $65 to $1,515. For the first nine months of 2015, the group's per-copy average is $1,529.
Read More →The group averaged $1,549 in F&I profit per vehicle retailed in the third quarter. Company officials noted that new-vehicle PVRs from self-generated sales, including F&I contributions, were about $800 higher than new-vehicle PVRs from sales generated by third-party lead providers.
Read More →Wells Fargo and Chase Auto Finance grew third-quarter auto originations by 10% and 19%, respectively, with a Wells Fargo official noting that new auto sales were at their highest levels in a decade.
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TrueCar CEO Scott Painter has announced that he will vacate his post in the wake of second quarter losses of nearly $15 million.
Read More →GM Financial's transformation from subprime finance source to GM's captive finance company continued in the second quarter, with GM new-vehicle loans and leases accounting for 83.5% of total originations during the period.
Read More →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.
Read More →The tablet-driven, fixed-price F&I process at Asbury’s Q Auto stores didn’t perform as well as the traditional F&I process employed at the group's core stores, but officials said they are happy with the new format’s progress.
Read More →GM Financial officials said Ally shouldn’t be surprised by GM’s decision to internalize its lease program. The company ended the year with a 50% share of GM’s lease business.
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During a quarterly earnings conference call last week, Ally’s former CEO opened up about General Motors’ unexpected decision to move all of its lease incentives to its captive, GM Financial.
Read More →Officials said the Charlotte test store was overwhelmed by sales and paperwork. F&I performance rebounded, however, after the group added document specialists.
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