U.S. franchised dealerships continued to earn more service revenue on fewer tickets in February, according to the latest Cox Automotive analysis of Xtime metrics. The Repair Order Revenue Index increased in February for the eighth consecutive month with the revenue per service ticket averaging $501, a record high. The Repair Order Volume Index decreased month over month and remains well below pre-pandemic levels.
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 February, the Repair Order Volume Index was down 1.6% month over month from January, at 78.6, and was up 6.5% from February 2021 but down 13.7% from February 2019.
The overall volume of repair orders being processed at U.S. franchised dealerships continues to be significantly lower compared to the months prior to the onset of the global pandemic. Research from Cox Automotive indicates many consumers continue to delay having their vehicles serviced, although this number is down significantly from the height of the pandemic. Service trends on Xtime benefited in early February from declining COVID cases and the U.S. not experiencing bad weather; however, service trends began to fade at the end of the month.
Xtime Repair Order Volume Index
The average revenue generated per repair order rose for the eighth straight month. At 121.5, the Repair Order Revenue Index for February was up 10.3% year over year and up 2.2% from January. The Revenue Index for February 2022 was 18.7% higher than February 2019.
Xtime Repair Order Revenue Index
The overall trend line indicates revenue per repair order has taken a step change since the COVID-19 pandemic hit the auto industry. Each repair order generates $501 in revenue on average.
Cox Automotive Industry Insights, with help from the Xtime data team, will 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.