Record adoption of digital tools bolstered sales during the challenging environment produced by the coronavirus. Despite working for years on these efforts, public groups say the finance-and-insurance component still requires improvement.
Public retailers credited a portion of their second-quarter rebounds to digital deals and paperless processes. While not every public group posted a profit, F&I income increased across the board among some of the nation's largest retailers, with two posting records in the period.
AutoNation Inc., the retailer with the highest same-store F&I profit per vehicle, said its digital F&I product penetration is not yet on par with in-store metrics.