Four of the six major publicly traded franchised auto dealership groups saw same-store finance and insurance gross profit per vehicle decline year over year in second-quarter earnings, with two of them pointing to higher interest rates as challenges.
Meanwhile, gainers AutoNation Inc. and Sonic Automotive Inc. reported greater success selling F&I products during the quarter.
F&I gross profit will continue to decline because of consumer affordability issues and the return of leasing, two analysts said.