Dealership Service Revenue and Ticket Volume Decreased in April, according to Xtime Metrics
Monday May 22, 2023
A recent analysis by Cox Automotive of Xtime metrics revealed that service activity and revenue at franchised dealerships in the U.S. decreased in April compared to the previous month. However, the Repair Order Revenue Index has increased compared to last year and reached a record high in March, while the Repair Order Volume Index has decreased compared to April 2022.
The monthly Xtime volume and revenue metrics are designed to showcase average service department performance over time, with the information indexed to January 2019. The two top-line measures provide a glimpse into service department performance at franchised dealerships in the U.S. Xtime, a Cox Automotive brand, provides software that helps auto dealers facilitate more than 10 million service appointments monthly.
The April Repair Order Volume Index decreased to 82.0, down 9.1% month over month from March’s upwardly revised number and was down 6.6% compared to April 2022.
Xtime Repair Order Volume Index for April
At 133.5, April’s Repair Order Revenue Index was down 0.5% from March’s upwardly revised reading and is up 5.3% year over year. The average revenue generated per repair order decreased by $3 off the record high reached in March.
Xtime Repair Order Revenue Index for April
“Car owners are keeping their vehicles longer and investing by servicing and repairing their vehicles, without the worry of large monthly loan payments,” said Skyler Chadwick, director of Product Consulting at Xtime. “Higher service costs pushed total service revenue per dealership to a record high for any April in the past five years. Most consumers understand that maintaining their car is still much cheaper than buying a new one, especially when considering the typical monthly payment for a new vehicle is over $750.”
Cox Automotive Industry Insights, with help from the Xtime data team, report the Repair Order Volume Index and Repair Order Revenue Index around the 20th of each month. For more information, reach out to the Cox Automotive Public Relations team.
Xtime is the leading end-to-end software solution that drives customer loyalty and revenue for automotive dealers in each stage of the service process. With easy-to-use technology and industry experts, Xtime helps dealers meet changing customer expectations. As an advanced, connected solution that provides exceptional support, Xtime is committed to helping dealers deliver the ultimate service experience. Through transparency, convenience, and trust, Xtime Spectrum — comprised of Schedule, Engage, Inspect, and Invite — facilitates more than ten million service appointments monthly. Xtime is a Cox Automotive™ brand.