Service Activity Spikes in May
Analysis of Xtime data showed increases in Repair Order Volume Index and the Repair Order Revenue Index.
Data shows a year-over-year increase in the Repair Order Volume Index and the Repair Order Revenue Index.
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Service activity increased notably at franchised dealerships in the U.S. in May compared to the previous month, according to analysis by Cox Automotive of Xtime metrics.
The analysis also showed service revenue decreased slightly from record highs in March and April and a year-over-year increase in both the Repair Order Volume Index and the Repair Order Revenue Index.
The May Repair Order Volume Index surged to 88.2, a 7.0% increase from April's upwardly revised figure, and a 1.8% increase from May 2022, which is the first year-over-year boost in service ticket volume since January.
The Repair Order Revenue Index for May came in at 132.4, down 1.3% from an upwardly revised April figure, and up 4.5% year over year. The average revenue per repair order declined by $8 from April's revised record high.
Xtime volume and revenue metrics present the average performance of the service department at franchised dealerships in the U.S. over time, with January 2019 as the point of comparison. Xtime, a Cox Automotive brand, provides software to help auto dealers schedule and manage over 10 million service appointments every month.
Cox Automotive Industry Insights and the Xtime data team analyze and compile this data into the Repair Order Volume Index and Repair Order Revenue Index around the 20th of each month.
Originally posted on Auto Dealer Today
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