AutoNation 2006 Annual Report Download - page 31
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Table of Contents
Finance and Insurance
Revenue and gross profit $634.3 $ 601.0 $ 33.3 5.5 $590.8 $ 10.2 1.7
Gross profit per vehicle retailed $ 1,066 $ 986 $ 80 8.1 $ 961 $ 25 2.6
Revenue and gross profit $632.3 $600.5 $ 31.8 5.3
Gross profit per vehicle retailed $ 1,067 $ 985 $ 82 8.3
Reported finance and insurance revenue and gross profit benefited from the impact of acquisitions when compared to same store
performance.
During 2006, same store finance and insurance revenue and gross profit benefited from increased retrospective commissions
received on extended service contracts, as well as higher new and used vehicle prices and increased premium luxury revenue per vehicle
retailed. Improvements were also driven by our continued emphasis on training and certification of store associates, particularly in third
and fourth quartile stores, and on maximizing our preferred lender relationships.
Finance and insurance revenue and gross profit increased slightly in 2005 compared to 2004. The improvement was driven by
increased retrospective commissions received on extended service contracts partially offset by decreased new and used vehicle sales,
which were caused in part due to the effects of Hurricane Wilma on our Florida stores. Improvements were also driven by our continued
emphasis on training store associates.
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