StoneEagle: PVR, PPD on the Rise in Q3 F&I Report
The latest quarterly StoneEagleDATA F&I Benchmark Report finds U.S. dealers enjoyed gains in F&I profit per vehicle retailed, products per deal and monthly F&I income in the third quarter, offsetting losses in average front end gross and total gross per vehicle.
Dealers on StoneEagle’s platform averaged $1,933 in F&I PVR and 1.56 PPD in Q3, up 8.2% and 2.6%, respectively, on a year-over-year basis. Monthly F&I income improved by 11.4% to an average of $222,677 per dealer.
Average front-end gross declined by 26.4% to $560 per vehicle and total gross per unit ticked down to $2,493 from $2,547 in the year-ago quarter.
In a release, StoneEagle CEO Cindy Allen notes that, while much was made of a Q3 boom for EV sales as the clock wound down on a now-expired federal tax credit, those units represented only 5.5% of franchised dealer transactions, 60% of which were leases.
“EVs drew a lot of attention this period, but they were only a small slice of what we measured,” Allen writes. “StoneEagleDATA shows that dealers doubled down from a front-gross perspective and leaned on leasing to help consumers into EVs, and that consistent F&I revenue is what gives them the ability to make those adjustments.”
