All six public new-car dealership groups increased F&I gross profit per unit in the fourth quarter, with one even setting a historic high. But the record-breaking pace could be short-lived as used-vehicle sales rise.
AutoNation Inc., of Fort Lauderdale, Fla., not only led among the six groups in F&I gross profit per unit in the fourth quarter, it set an all-time high for the six of $1,732 on a same-store basis, an 11 percent and $170 rise from the year-earlier period.
As for the other five, all posted an increase of more than 3 percent:
•Group 1 Automotive Inc., of Houston, rose 3.6 percent, or $59, to $1,695.
•Asbury Automotive Group Inc., of Duluth, Ga., rose 9.8 percent, or $148, to $1,662.
•Sonic Automotive Inc., of Charlotte, N.C., rose 5.7 percent, or $77, to $1,421.
•Lithia Motors Inc., of Medford, Ore., rose 6.7 percent, or $84, to $1,342.
•Penske Automotive Group Inc., of Bloomfield Hills, Mich., rose 8.9 percent, or $98, to $1,197.