It's getting tougher for the public new-car retailers to post big percentage increases in F&I revenue per vehicle retailed, following a decade of almost continuous growth that, after the downturn, reached new highs.
"The higher the number gets, the hurdle gets a little bit harder to jump over," Michael Kearney, COO for Asbury Automotive Group Inc., said during a conference call for investors last month.
Along with Asbury, the large publicly traded new-car dealership groups are Group 1 Automotive Inc., AutoNation Inc., Sonic Automotive Inc., Lithia Motors Inc. and Penske Automotive Group Inc.
Asbury's average F&I revenue per retail vehicle reached $1,308 in 2013, up 46 percent from $896 in 2009. Asbury's F&I revenue per vehicle has increased 55 percent since 2004, when it was $843, a review of the company’s annual reports shows.