Finance-and-insurance gross profit per vehicle might be leveling off among the six publicly traded franchised auto retailers after quarters of year-over-year gains.
Asbury Automotive Group Inc. was the only one of six publics to post a double-digit year-over-year percentage increase in same-store F&I gross profit per vehicle in the fourth quarter. Two of the publics registered slight year-over-year declines.
Five of the six — all but Sonic Automotive Inc. — saw results fall when compared with the third quarter. And Lithia Motors Inc. told investors that higher interest rates in 2023 would cut its F&I gross profit on vehicles.