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Dan Clara, Asbury's senior vice president of operations, told investors and analysts on a Feb. 2 call that rising interest rates had not affected Asbury's ability to add F&I products to deals. Asked if higher interest rates would affect demand for vehicles in the second half of 2023, Asbury CEO David Hult said \"we think we'll be just fine\" should the Federal Reserve institute one or two more 0.25 percentage point rate hikes. Company CEO Mike Manley told investors and analysts in a Feb. 17 call that his group's plan is to grow CIG Financial at a \"very manageable speed\" on pace largely with the growth of the AutoNation USA used-vehicle-only business.

Florida dealership associations described retailers as relatively unscathed after Hurricane Ian soaked and whipped the state last week, while auto plants and dealerships in the Carolinas closed in anticipation of being the storm's next target. Ian made landfall northwest of Fort Myers on Wednesday afternoon as a Category 4 storm with sustained winds of 145 mph. The storm weakened to a tropical storm as it churned across Florida but regained hurricane strength after reaching the Atlantic Ocean on Thursday.