The latest Cox Automotive analysis of Xtime metrics reveals that service activity rose steadily month over month in March. U.S. franchised dealers saw repair order index volume lower than last year when the service business boomed. However, repair order revenue set a new March record.
The upwardly revised figure for February lifted the February Repair Order Volume Index to 15.9% month over month and decreased by 4.3% from March 2022.
The Repair Order Revenue Index for March increased by 0.5% from February’s the revised data. Compared to the record high established in February, the average revenue per repair order fell by just $3.
“The March ticket volume was lower than we have seen in previous years, but higher service costs pushed total service revenue per dealership to a record high for any March in the past five years,” noted Cox Automotive Chief Economist Jonathan Smoke.
Despite March’s ticket volume being lower than in prior months, increased service charges caused the dealership’s overall service income to reach a record high for any March in the preceding five years.
The monthly Xtime volume and income measurements aim to illustrate the average service department’s performance over time.
