GRAPEVINE, Texas — Over the past two years, Group 1 Automotive Inc. has revamped its finance and insurance operations with new technology and training to help the retailing giant sustain a consistently high F&I performance.
Since 2015, same-store F&I gross profit per vehicle for Group 1, the nation's fourth-largest dealership group, has exceeded $1,500. In 2018, it reached $1,707.
An effective staff, consistent training and an appealing F&I product lineup are keys to F&I success, said Keegan Savell, Group 1's regional finance director for the Dallas-North Texas market. But recent changes also helped the dealership group continue to move the mark: a digital menu and an internal compliance training platform.
Compliance has always been a mandate for the company, but "we've taken additional measures to make it even more of a priority by launching our own internal compliance," said Savell.