Sky’s the limit for AutoNation F&I
|Jim Henry is a special correspondent for Automotive News|
- Uber might trump the cost of car ownership, but not leasing…yet
- Maybe NHTSA could use excessive force to fix old Jeeps -- or leg traps
- Buick chief says new China duties won't distract from 'a lot more to do' in U.S.
- Midsize with a four-banger or large and loaded? How auto insurance affects consumers' buying power
- Toyota's message to critics who, um, pooh-pooh fuel cells
It looks like AutoNation Inc. has upped the ante once again in F&I revenues per vehicle, having reached a record $1,307 in the fourth quarter of 2012.
AutoNation is typically No. 1 among the six biggest publicly traded new-vehicle retail groups in F&I revenue per vehicle. AutoNation made $1,200 the number to beat in 2011, which some of its competitors have since managed, and $1,100 the benchmark in 2010.
And AutoNation isn’t through yet, said COO Mike Maroone in a conference call for investors on Jan. 31 when asked how high the F&I numbers can go.
“I don’t want to put a stake in the ground for where it can go,” he said. “I will say that we’re forecasting continued growth in F&I PVR [per vehicle retailed]. It’s a very important part of our strategy.”
You can reach Jim Henry at email@example.com.