Mark O'Neil explains Accelerate
Online F&I Profits Remain Uncertain Amid Rise of Digital Platforms
Wednesday March 21, 2018
Article Highlights
- Cox Automotive recently boosted its online F&I presence with the launch of Accelerate.
- The platform gives car shoppers the ability to “calculate monthly payments, get trade-in values, secure financing and browse F&I products.”
- Mark O’Neil, executive vice president and chief operating officer for Cox Automotive, said the 24 Las Vegas-area dealerships that have tested the program have seen an 80 percent increase in front-end and back-end gross profits, likely due to the platforms educational videos about F&I products that can be presented in a more subdued fashion for consumers.
Cox Automotive recently boosted its online F&I presence with the launch of Accelerate. The platform gives car shoppers the ability to “calculate monthly payments, get trade-in values, secure financing and browse F&I products.”
Mark O’Neil, executive vice president and chief operating officer for Cox Automotive, said the 24 Las Vegas-area dealerships that have tested the program have seen an 80 percent increase in front-end and back-end gross profits, likely due to the platforms educational videos about F&I products that can be presented in a more subdued fashion for consumers.