Group 1’s F&I Per-Copy Average Jumps $65 in the U.S. Market
HOUSTON — Group 1 Automotive, an international dealer group with outlets in the United States, the United Kingdom and Brazil, raised its consolidated F&I profit per-copy average by $27 to $1,352. The group’s U.S.-based F&I operations continued to live $1,500 per copy. In the United States, the group’s F&I operations averaged $1,515 in F&I per ... Read More »
HOUSTON — Group 1 Automotive, an international dealer group with outlets in the United States, the United Kingdom and Brazil, raised its consolidated F&I profit per-copy average by $27 to $1,352. The group’s U.S.-based F&I operations continued to live $1,500 per copy.
In the United States, the group’s F&I operations averaged $1,515 in F&I per vehicle retailed (PVR), a $65 improvement over last year. Its consolidated average was held down by the $54 and $238 PVR drops in the United Kingdom and Brazil, where the average stood at $693 and $399, respectively.
For the first nine months of the year, the group’s per-copy average for its U.S.-based F&I operations was $1,529, up $79 from the first nine months of 2014.
The PVR increase in Group 1’s U.S. market was driven, in part, by an increase in penetration rates for most of the group’s F&I product offerings. Officials also listed consolidation of its lender base, the availability of consumer financing, including improved subprime financing, and integrating compliance, training and benchmarking to create a transparent customer experience as other drivers.
“We are very pleased with where we are and we work every day to improve the underperforming stores and increase our product penetrations,” said Peter DeLongchamps, vice president of financial services and manufacturer relations. “So that’s just been a lot of hard work by my team and we are delighted with the results.”
Product acceptance rates varied in the group’s three markets, with service contracts leading the way in every one. In the United States, service contracts penetrated at a rate of 40%, while GAP, prepaid maintenance and the group’s paint sealant product posting acceptance rates of 28%, 12% and 19%, respectively.
The group posted a 10.8% increase in U.S. same-store F&I gross profit, which totaled $97 million, while total F&I revenue grew by 12% from a year ago.
For the quarter, the group posted record earnings and revenue. Total revenue increased 6.6% to an all-time quarterly record of $2.8 billion, while total gross profit grew 6.3% to an all-time quarter record of $398.4 million. The group also reported record adjusted net income of $46 million, a 15.7% increase from a year ago.
All three of the group’s markets sold a combined 47,126 new vehicles and 32,491 used vehicles on a same-store basis during the third quarter. Its U.S. operations accounted for 37,132 of the new vehicles sold and 26,756 of the used vehicles sold. All three markets experienced double-digit increase in used-vehicle sales, the U.K. market realizing the largest increase during the period compared to a year ago.
More Industry

Autos More Appealing
Consumers gave new cars better scores again this year for design, performance and more as mass-market brands kept gaining on premium lineups, JD Power found in an annual poll.
Read More →
Used EVs Defy Overall Market
While the used-car market saw three months of price declines or stagnation, the used EV segment did the opposite – rising for three straight months.
Read More →
Gone to the Dogs
A Stellantis brand decided to have some fun with one of its SUVs’ design to address growing emphasis on family pets.
Read More →
OEM Poll Sees Industry Evolution
Kerrigan Advisors’ survey of automakers finds that tariffs, technology, network tightening and other factors are poised to reshape auto retail.
Read More →
Luxe N.C. Dealerships Change Hands
A collection of Italian and English brand franchises were handed off to the owner’s friend in the business and include the Carolinas’ only Ferrari retail stores.
Read More →
Exposure Drives Interest in Chinese Cars
At a recent demonstration, consumers had the chance to ride in a Chinese-branded vehicle, a firsthand experience that improved their perceptions and purchase intent.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Agent Advocate
Rob Mancuso, who comes from a long line of auto dealers, values general agents’ place in the industry and makes a case for them taking an even bigger seat at the table.
Read More →
Driving Under Distraction
Though consumers gave higher marks to new vehicles in JD Power’s most recent initial-quality poll, high-tech interference worsened, pointing to craving for simplicity.
Read More →
Affordable New Cars a Thing of the Past
More than one out of five new vehicles sell for more than $60,000, according to Edmunds. That's up 7% compared to prepandemic 2019.
Read More →