According to a recent analysis by Cox Automotive of Xtime metrics, service activity at franchised dealerships in the U.S. rebounded in August following a drop in July. After three months of consecutive declines, service revenue increased. Although the Repair Order Volume Index decreased compared to the previous year, the Repair Order Revenue Index remains higher than in August 2022.
“If you had any doubts that summer is over, our Xtime data is offering proof,” said Skyler Chadwick, director of Product Consulting for Cox Automotive. “After a long, hot summer, we can see an influx of consumers bringing their vehicles in for service. Consumers continue to hold onto their vehicles longer and make significant investments in service maintenance. The surge in service revenue is primarily due to the higher cost of parts, labor and major services.”
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.
In August, the Repair Order Volume Index increased to 91.5, up 8.2% from July and down 1.2% from August of last year.
Xtime Repair Order Volume Index for August
The Repair Order Revenue Index for August is at 134.9, reflecting a 2.3% rise from the revised reading in July. This index indicates a 4.3% increase year over year and the highest recorded level for August in the past five years. It also shows a significant 34% increase compared to August 2019.
Xtime Repair Order Revenue Index for August
In the Q3 Cox Automotive Dealer Sentiment Index, franchised dealers reported their current level of business in fixed operations is improving, and they expect it to grow in the next three months.
Cox Automotive Industry Insights, with help from the Xtime data team, reports 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.