Finance-and-insurance profit per vehicle rose for all six publicly traded dealership groups in the second quarter as the industry absorbed the continuing impact of the coronavirus pandemic on operations.
Earnings at the public dealership groups took a hit from the pandemic, though many reported better-than-expected figures for the quarter thanks in large part to early adoption of digital tools. After a swift transition in a challenging environment, retailers say hurdles remain in digitizing the F&I component in particular.
AutoNation Inc., the retailer with the highest same-store F&I profit per vehicle, said its digital F&I product penetration is not yet on par with in-store metrics.
"We have it, I would say, perfected in the stores," AutoNation CEO Mike Jackson said on a call with investors last month. "There is still work to do in the digital world on those products."
Jackson said last quarter that the ret…