Retail

Public dealerships' F&I gross profits fall in Q2 but most above $2,000 a vehicle

Penske Automotive Group CEO Roger Penske speaks Oct. 24, 2019, in the White House, during his Presidential Medal of Freedom presentation ceremony. (Shealah Craighead\/White House)
Penske Automotive Group CEO Roger Penske (SHEALAH CRAIGHEAD\/WHITE HOUSE)
August 27, 2024 08:02 PM

The six publicly traded franchised dealership groups all generated less finance and insurance same-store gross profit per vehicle during the second quarter compared with a year earlier. But five of the six reported F&I gross profit above $2,000 per vehicle, and two CEOs said in earnings calls that their groups' F&I performance ought to remain above historic levels.

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