finance and insurance Archives

Stock of cars in showroom of automobile dealer

Elevated interest rates are prompting consumers to purchase vehicles in cash, contributing to a dip in finance and insurance profit ...

Vroom F&I profits rise 82% YoY

byAmanda Harris

November 8, 2023

0

Vroom’s finance and insurance profit increased in the second quarter as the retailer scaled e-commerce sales and offloaded older inventory. ...

Two people taking a leisurely afternoon cruise in an open sports fishing boat

Marine interest rates top 9%, quell consumer appetite

byJohnnie Martinez II

August 3, 2023

0

Rising interest rates are dampening consumer demand for boats and pushing down sales at marine manufacturer Brunswick and marine retailer ...

A car dealer walks past cars for sale at a used car dealership in Jersey City, New Jersey, U.S, on Wednesday, May 20, 2020. Governor Phil Murphy has lifted restrictions on in-person auto sales, provided the businesses follow social distancing guidelines, NBC reported.

Penske Auto floorplan interest expense jumps 242% YoY

byJoey Pizzolato

July 28, 2023

0

Penske Automotive logged an increase in floorplan interest expense in line with other publicly traded automotive retailers in the second ...

Group 1 F&I revenue flat as floorplan expense surges

byAmanda Harris

July 26, 2023

0

Group 1 Automotive’s finance and insurance profits remained steady in the second quarter as finance penetration decreased amid high interest ...

Lithia Motors F&I revenue down 2% YoY in Q2

byJoelle Anselmo

July 27, 2023

0

Lithia Motors showed declining finance and insurance revenue while nearly doubling its floorplan interest expenses quarter over quarter. Finance and ...

An AutoNation dealership in Las Vegas, Nevada, US

AutoNation Finance penetration reaches 20% in June

byRiley Wolfbauer

July 21, 2023

0

AutoNation Finance’s loan penetration increased in AutoNation storefronts during the second quarter while finance and insurance revenue ticked up and ...