Dealership group AutoNation Inc. is slowly integrating its recently acquired CIG Financial into the company.
AutoNation in October purchased Irvine, Calif.-based auto finance company CIG Financial for $85 million.
Glenn Chin, senior equity analyst at Seaport Research Partners, said CIG is not yet integrated in AutoNation's new-car dealerships but is active in the group's AutoNation USA standalone used-car stores.
In February, AutoNation CEO Mike Manley said the group was to restart a finance company as a source of profits and strategic advantage as it grew its used-vehicle business.
"I think it's important for the largest automotive retailer in the country to be able to offer finance through a captive where we can tailor-make services, where we can make sure that the relationships that we build with our customers are deep, where we can be flexible to make sure that we account for different cycles, different changes in buying habit," Manley said on an earnings call at the time. "So I am strongly in favor of that."