F&I PVR Reaches Its Highest May Level

The strongest May F&I PVR in the benchmark came as sales softened and front-end gross surrendered part of its four-month recovery.

By Gregory Arroyo

May's sales activity looked much like it has throughout the StoneEagleDATA dataset.

Dealers averaged 116 retail deliveries per rooftop, up from 112 in April and continuing the April-to-May rebound that has appeared each year since 2022. However, May 2026 represented the lowest May since 2023, continuing the slightly softer sales pace that has characterized much of the year.

The profitability picture was less uniform.

Average front gross declined from $609 in April to $555 in May, the first monthly decline after four consecutive monthly increases. Despite recovering from the December 2025 low of $279, front gross remained 33.21% below its May 2025 level. That decline pulled average total gross down 7.49% from May 2025 to $2,568 per deal.

The decline could have been steeper if not for the strongest May F&I performance in the StoneEagleDATA dataset.

Average F&I profit per vehicle retailed (PVR) reached $2,012, the strongest May in the StoneEagleDATA dataset and second only to November 2025's all-time monthly high of $2,025. Average monthly F&I income per dealer also reached a May high of $232,485, increasing 2.47% from a year earlier despite retail volume remaining essentially flat.

This insight comes directly from StoneEagleDATA's latest benchmark report, powered by transaction-level data representing more than 50% of the automotive retail market. StoneEagleDATA delivers The Complete Picture of how sales conditions and F&I execution shape dealership profitability.

May's Complete Picture

May's record F&I profit per vehicle retailed (PVR) wasn't driven by materially higher product attachment. Products per deal edged up from 1.55 in April to 1.56 in May but remained slightly below last May's 1.59 average, while product penetrations remained largely in line with a year ago.

However, average income per F&I product sold continued its multi-year increase, while finance reserve income continued to benefit from rising finance amounts — the average increased by more than $2,000 from a year ago. Even with gains in both areas, the relationship between finance reserve income and product income changed very little, with product income continuing to account for roughly two-thirds of F&I PVR. (Click here to read the full analysis).

The first five months of 2026 provide additional perspective.

Through May, F&I PVR reached its highest January-through-May average in the StoneEagleDATA dataset. During the same period, front-end gross fell to its lowest January-through-May average since 2020, while total gross per deal ranked below every year since 2021 but remained above both 2019 and 2020.

May by the Numbers

• Deals per Dealer: Average monthly deal count increased from 112 in April to 116 in May. Compared with 117 deals in May 2025, volume declined 0.85% year over year.

• F&I PVR: Average F&I PVR reached $2,012 in May, up from $1,991 in April and $1,945 in May 2025. It was the strongest May result in the dataset.

• Front-End Gross per Deal: Front-end gross declined from $609 in April to $555 in May. Compared with $831 in May 2025, the average declined 33.21% year over year.

• Total Gross per Deal: Total gross per deal declined from $2,600 in April to $2,568 in May. Compared with $2,776 in May 2025, total gross declined 7.49% year over year.

• Products per Deal: Products per deal increased slightly from 1.55 in April to 1.56 in May but came in below May 2025’s 1.59 average.

• Total F&I Income per Dealer: Average monthly F&I income increased from $222,140 in April to $232,485 in May. Compared with $226,870 in May 2025, F&I income increased 2.47% year over year.

F&I Product Penetration Highlights

• Vehicle Service Contracts (VSC): Penetration increased from 44% in April to 45% in May, matching the rate in May 2025.

• Guaranteed Asset Protection (GAP): Penetration matched April’s 39% and the rate recorded in May 2025.

• Paint & Fabric Protection: Penetration remained at 20%, unchanged month over month and year over year.

• Prepaid Maintenance (PPM): Penetration remained at 17% in May, unchanged from April and up from 16% in May 2025.

• Tire & Wheel: Penetration remained at 10%, unchanged from April and down from 11% in May 2025.

That's The Complete Picture. Brought to you by StoneEagle. Your one true source for benchmarks and data that help drive success for your business.

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