Ann: Change in substantial holding from PPT, page-13

Sorry industry hazard of lumping Finance & Insurance commissions in together, as you rarely sell I without first selling the F. But totally agreed the Insurance loss of commission & impact will also be significant. And as your mate says the products could rarely be claimed upon...CCI to self employed or unemployed. GAP for finance deals with big deposits, or tyre & rim (1 in a 1000 claims). At last look F&I had grown to approx a 10-40% of annual profit centre for MV dealers (& some even more), good luck replacing that with a new sales process & actually making money off the sale of the new car. As you point out all SP's across the listed MV dealers are down due to this. Just not sure where the bottom is of this one.