A recent analysis by Cox Automotive of Xtime metrics revealed that service activity at franchised dealerships in the U.S. decreased notably in July compared to the previous month. Service revenue declined slightly for the third consecutive month after reaching record highs in March and April. The Repair Order Volume Index decreased compared to the previous year, while the Repair Order Revenue Index increased compared to July 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.
In July, the Repair Order Volume Index dropped to 83.7, down 7.8% compared to June’s upwardly revised figure and is down 3.0% compared to July last year, reflecting the lowest service volume for July in the past five years.
Xtime Repair Order Volume Index for July
July’s Repair Order Revenue Index is at 130.1, which is a 1.9% decrease from June’s upwardly revised reading. However, the Revenue Index still shows a 3.5% increase from the previous year and is the highest recorded level for July in the past five years. The average revenue per repair order decreased by $10 compared to last month.
Xtime Repair Order Revenue Index for July
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.