AutoNation F&I profit hits high
While many retail environment stores have continued to struggle with earnings and sales, those that provide a valuable service to customers continue to see an increase. One company that has continued to perform well, even during the period in which more consumers shop online than ever before, is AutoNation. AutoNation is a major retailer of auto supplies and products and has stores located all over the country. While they are best known for the retail side of the business, the company has some other interesting lines of business as well.
One line of business that has continued to do very well for the company is the finance and insurance side of the business. The product line, which is called AutoNation F&I, has continued to do very well with consumers and many small businesses. Due to the popularity of the relatively new product line, it is no wonder why this part of the business has done so well.
In early February, the company released their earnings that showed that the F&I product line has done even better than previously though. The overall profit per unit increased by more than 4.5% to $1,650 per unit, which is much more than many would have projected when the company announced this product line awhile back.
Now that the new product line is doing so well, AutoNation will likely continue to expand in the area. They are also looking into a number of other product and service lines that could continue to pay long-term benefits.