ONTARIO, CALIF. — CU Direct today announced the appointment of Ron Frey as chief strategy officer of its automotive solutions. He joined the company this month. Frey will oversee the planning and direction of automotive solutions as it relates to product and market expansion. This includes oversight of existing products, including CUDL, a credit union ... Read More »
FORD LAUDERDALE, Fla. – AutoNation’s F&I operations, or what the group refers to as Customer Financial Services, lived above $1,500 in F&I gross profit per vehicle retailed (PVR) in 2015, with the business unit’s full-year revenues rising by $100.5 million from 2014. The group’s F&I operation’s full-year PVR average was $1,538, up $124 from 2014. ... Read More »
Honda Motor Co’s order that its U.S. dealers stop selling some 2.2 million of the automakers’ most popular models is compounding financial and regulatory headaches for car dealers stuck with millions of vehicles that have potentially hazardous air bags or other safety defects, reports Reuters. With the recalls affecting Honda vehicles dating back several years, used-car ... Read More »
FORD LAUDERDALE, Fla. — Strong performances in all of AutoNation Inc.’s business sectors — particularly the group’s F&I operations, which continued to live above $1,500 per copy during the period — drove record third-quarter results for the nation’s largest dealer group. While F&I accounted for 4.3% of the company’s $5.1 billion in same-store revenue, F&I ... Read More »
United Development Systems, Inc. (UDS), a Clearwater, Florida based F&I Performance firm, has announced the addition of Fernando Romani as Regional Manager. Romani will assume responsibilities for UDS Dealer Partners in the South Florida market, with a keen focus on F&I department development with current partners and market share growth through new partner acquisitions. Prior ... Read More »
FORT LAUDERDALE, Fla. — For the first time, AutoNation reported F&I gross profit per vehicle retailed (PVR) of more than $1,500, an all-time high for the public dealer group. The group saw an average gross PVR of $1,515 during the first quarter 2015, up $114, or 8.1%, from a year ago. Approximately two-thirds of that ... Read More »
FORT LAUDERDALE, Fla. — Stepping down after 15 years as president and COO, Mike Maroone said during the company’s quarterly investor call this week that he was “very optimistic” about AutoNation’s future. The dealer group realized record earnings per share from continuing operations in the fourth quarter 2014 and its strongest year in company history. ... Read More »
FORT LAUDERDALE, Fla. — AutoNation reported record F&I gross profit per vehicle retailed, with the dealer group’s F&I operations now averaging $1,401 per copy. The gain in back-end profitability, along with strong performances in used- and new-vehicles sales as well as parts and service, drove a 10% increase in third-quarter revenue from last year. AutoNation ... Read More »
FORD LAUDERDALE, Fla. — In a quarter in which it posted record second-quarter earnings per share (EPS) from continuing operations, AutoNation’s F&I operations realized an 11.5% increase in revenue from a year ago and a $9 million, or 5%, increase in total gross profit. Average gross profit per vehicle retailed for the nation’s largest auto ... Read More »
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