Service revenue increased slightly at U.S. franchised dealerships in May on fewer repair order tickets, according to the latest Cox Automotive analysis of Xtime metrics. The Repair Order Revenue Index increased month over month to the new highest level for the index, dating back to January 2018. Meanwhile, the Repair Order Volume Index decreased month over month in May.
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 May Repair Order Volume Index was down 1.1% month over month from April, at 86.9 and was down 1.6% from May 2021.
Xtime Repair Order Volume Index
The average revenue generated per repair order rose for the sixth consecutive month after leveling off in November 2021. At 126.8, the Repair Order Revenue Index for May was up 11.7% year over year and up only 0.08% from April.
Xtime Repair Order Revenue Index
Note: Historical data are seeing revisions, but the previously reported pattern remains intact.
“Compared to service metrics in May before the pandemic, Xtime dealers may be seeing a small decrease in customer volume, but repair order revenue is up 12%,” said Tiffani Stefanescu, manager of performance management at Xtime.
According to the Q2 Cox Automotive Dealer Sentiment Index, dealers remain positive about their fixed operations business. Dealer sentiment toward the current level of business in fixed operations has remained steady over the past four quarters but has dropped nine points compared to Q2 2021. Sentiment toward future opportunities with fixed operations over the next three months dropped seven points quarter over quarter and is down five points from a year ago.
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.