On Thursday, Penske Automotive Group reported barely higher average F&I revenue per vehicle of $1,098, up $2 from a year ago, making six out of six publicly traded groups that showed a year-ago improvement for the third quarter.
On Wednesday, AutoNation Inc. reported a company record $1,549 per vehicle, up 10% from a year ago. Earl Hesterberg, president and chief executive for Group 1 Automotive said on Tuesday U.S. operations had an average of $1,515 F&I revenue per vehicle, a record for the third quarter, and an increase of 4.5% from a year ago. Group 1 also operates in the United Kingdom and Brazil. Group 1 is working on its underperforming stores, and increasing sales penetration for aftermarket F&I products like vehicle service contracts, said Pete DeLongchamps, vice president, financial services and manufacturer relations.
