Updated 2020 predictions with John Pappanastos of EFG Companies

EFG Companies president and chief executive officer John Pappanastos elaborated about the company’s updated 2020 predictions for the retail automotive and F&I market. As the U.S. economy experiences the pandemic-driven downturn, EFG predicts continued softness in light-vehicle sales with greater downside performance risk than upside opportunity. While economic challenges may persist for the remainder of the year, EFG also sees evidence that dealerships are successfully managing the impact, and strength in F&I is boosting revenue.