The latest Cox Automotive analysis of Xtime metrics shows that service activity decreased and service revenue increased month over month in February at U.S. franchised dealerships, as was the case in January. The Repair Order Revenue Index is up year over year, while the Repair Order Volume Index is down compared to February 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 February Repair Order Volume Index decreased to 76.4, down 8.5% month over month from January’s upwardly revised number and was down 3.2% compared to February 2022.
Xtime Repair Order Volume Index for February
“The decline in the February Repair Order Volume Index is likely due to winter weather impacting service appointments in many parts of the country,” said Cox Automotive Chief Economist Smoke. “Service continues to be an excellent revenue opportunity for dealers, and service demand remains strong from consumers keeping their vehicles longer and opting to repair instead of replace.”
At 132.6, the Repair Order Revenue Index for February was up 0.5% from January’s upwardly revised reading and is up 7.0% year over year. The average revenue generated per repair order increased by $3 to reach a record high for the index.
Xtime Repair Order Revenue Index for February
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.