Dealership service business has been falling after hitting record highs in the spring, Cox Automotive says.
Its Repair Order Volume Index fell in July for the third consecutive month and was down year-over-year, though its companion revenue index was up from a year earlier.
Repairs and maintenance business has enjoyed robust activity as many vehicle owners hang on to their models longer due to high new- and used-vehicle prices.
The repair data Cox uses is indexed to January 2019 using franchised dealership numbers.
The Repair Order Volume Index fell about 8% month-over-month in July to 83.7, down 3% year-over-year. Cox said it was the lowest July volume in five years.
The service revenue index fell about 2% to 130.1 but was up 3.5% year-over-year – ironically the highest July level in five years.
Cox said the average revenue per repair order fell $10 month-over-month.
Originally posted on Auto Dealer Today