According to the most recent Cox Automotive review of Xtime metrics, service activity at U.S. franchised dealerships declined in February while service income climbed compared to the prior month. While the Repair Order Volume Index is down from February 2022, the Repair Order Revenue Index is up year over year.
The report is linked to January 2019, and the monthly Xtime volume and revenue indicators are made to demonstrate the typical service department performance over time. The two top-line measurements offer a view into the performance of the service departments of franchised dealerships in the United States.
Software from Xtime, a Cox Automotive brand, assists auto dealers in scheduling more than 10 million service appointments each month.
According to Cox Automotive Chief Economist Smoke, “the fall in the February Repair Order Volume Index is probably due to winter weather hurting repair appointments in several parts of the country. “Services continue to be a great source of revenue for dealers, and demand for services is high due to consumers retaining their cars longer and choosing to fix rather than replace.”
The Repair Order Revenue Index for February increased 0.5% from the upwardly revised value for January and increased 7.0% year over year to 132.6. The index’s average revenue per repair order grew by $3, setting a new high.
The Xtime Metrics team assists Cox Automotive Industry Insights in reporting the Repair Order Volume Index and Repair Order Revenue Index around the 20th of every month.