Penske Automotive’s finance and insurance revenue dropped in the first quarter as used inventory shrank.   Finance and insurance (F&I) revenue dropped 3.8% year over year to $198.2 million, according to the company’s April 30 earnings release.  F&I made up 3% of Q1 revenue, down 20 basis points (bps) YoY, and 18.3% of gross profit, down120 […]