Well, it looks like Q2 is poised to prove that Q1 was no flash in the pan. Like many of you, I’m hearing records getting smashed all over the place. We just sat through another corporate meeting and all our stores are breaking glass everywhere. I’ve also been reading many posts in EFI about some of your success stories and am cheering right along with you. Though some would like to attribute this uptick via stimulus money, I can tell you those coins have nothing to do with our red hot Super Duty trucks flying off the lot with five-figure down payments from folk who don’t qualify for the extra. The semiconductor chip shortage is still causing headaches. But in spite of this, people are still buying new vehicles. This is driving the market with a buying frenzy among consumers. Like many, our truck inventory is way down but it hasn’t stopped customers rather, they’re adjusting and buying what we have. Used wholesale prices-especially trucks-are out of the books. F&I continues to lead the charge and I expect April’s strong early start to continue into the summer selling season. This extra wave of business needs to be recognized and handled expeditiously. Manage your time wisely because business is great! Are you going to get your share? I hope so. MM Bits & Pieces………. Partners… Lithia Motors buys The Suburban Collection The acquisition is the first major platform in North Central region and is expected to add $2.4B in annualized revenues and includes all 56 Suburban Collection franchises, making today's announcement one of the largest number of franchises ever sold in a strategic transaction. Movements… NEUENSCHWANDER SUCCEEDS HAUGEN AS PORTFOLIO CSO Dan Haugen, chief sales officer for Portfolio, has retired, effective Dec. 31, 2020. David Neuenschwander, president of National Automotive Experts and NWAN, the Strongsville, Ohiobased company acquired by Portfolio last year, succeeds Haugen as CSO. F&I 20/20© is a bi-monthly Newsletter for the professional F&I Practitioner. This publication is a division of Ethical F&I Managers (EFI™) and is copyrighted. All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the publisher, except in the case of brief quotations embodied in critical reviews and certain other noncommercial uses permitted by copyright law. For permission requests, write to the publisher at: Marv Eleazer 4043 Liska Circle Valdosta, GA 31605 fordpantera@yahoo.com (229)460-3310 Editorial Board Gregory Arroyo garroyo@dealersocket.com Giving it Back... Davis Toyota of Orangeburg An Orangeburg auto dealership has begun a community outreach effort designed to help support various charitable and community organizations in Orangeburg County. Davis Toyota kicked off a Community of Caring Initiative in December and will continue the program during select months of the coming 3 Tony Dupaquier tonyd@theacademylive.com Shannon Robertson shannon.robertson@afip.com G.P. Anderson gp.anderson724@gmail.com
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