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US auto retailers sold 300,000 new EVs, an increase of 48.4% year-over-year and a record for any quarter.
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Deliveries soar 18%, setting a record for the first half of the year.
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Both automakers posted consecutive monthly gains in June.
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Expects weakened U.S. market in the spring.
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As automakers report second quarter results, analysts say a market rebound may be on the way.
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The auto finance industry continued to quell the subprime bubble talk, with finance sources extending credit to five times more superprime car buyers than deep subprime shoppers.
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Asbury increased its F&I per-copy average 3% to $1,436 in the second quarter. But total F&I gross profit fell due to a 'Choppy' retail environment, officials said.
Read More →During Ally Financial's second quarter earnings call, company officials said the finance source is moving downstream into the higher risk, higher yield credit tiers and focusing less on the low-risk superprime loans.
Read More →Poor retail sales were offset by a 3.1% increase in total F&I gross profit and a 40.5% increase in revenue at Sonic Automotive's EchoPark locations. While declining oil prices have hurt the company's performance in the Houston market, officials are confident the group will recover.
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