Record-high levels of finance and insurance profits could see a slowdown next year, some industry experts predict.
An October J.P. Morgan report estimated F&I gross-profit-per-vehicle among the six major publicly traded dealership groups would drop slightly in 2023, but not below pre-pandemic levels.
The financial institution's industry analysts project this year's average F&I gross profit of $2,300 for the group would drop about 8.7 percent to $2,100 at the end of next year — but far above the $1,700 seen in 2019. J.P. Morgan projected further deterioration to $2,050 in 2024 and to $2,000 in 2025.