Service Business Falls
Cox data shows activity, revenue decreases apparently not tied to strikes.
Detroit are apparently not to blame, says Cox Automotive.
Service activity at franchised dealerships fell 11% month-over-month, reaching its lowest volume since April.
IMAGE: Pexels/Malte Luk
Dealer service department business fell in September, but the union strikes in Detroit are apparently not to blame, says Cox Automotive.
Service activity at franchised U.S. dealerships decreased 11% month-over-month, reaching its lowest volume since April and down 4% year-over-year.
The drop-off occurred across brands, Cox said, so it doesn’t appear related to any parts shortages resulting from the strikes.
“We will be watching carefully in October,” said Cox Director of Product Consulting Skyler Chadwick in a press release about the monthly measurement.
Revenue declined along with volume, down 2% month-over-month and its lowest point since July, though it was up year-over-year by 3% and by 35% since September 2019, Cox said, months before the first pandemic lockdowns. The service activity data is indexed to January 2019.
Originally posted on Auto Dealer Today
More Industry
Ownership Priorities are Shifting
A new survey shows that in the U.S. vehicle quality for generation Z is largely defined by advanced safety features, intuitive technology and premium sound systems.
Read More →
Pump Price Jump Calculated
ISeeCars.com examined fuel costs for different power trains, finding which ones have experienced the biggest hits since the war in Iran commenced.
Read More →
Black Book: Weekly Market Update
Wholesale values fell last week despite the spring season still being in the traditional full-gear mode, analysts said.
Read More →
Arkansas Auto Group Acquires First Indiana Rooftop
Performance Brokerage Services represented both the buyer and seller in the sale of Carver Toyota of Columbus by Carlock Automotive Group.
Read More →
Stellantis to Dive Into U.S. Lending
The multinational maker of Chrysler, Dodge, Jeep, Ram and multiple other brands received conditional approvals for a Utah-based industrial bank.
Read More →
New-Vehicle Prices Rise
With April sales down, higher prices on in-demand large vehicles helped inflate the overall ATP, though increases were under long-term averages, Cox Automotive reported.
Read More →
Black Book: Weekly Market Update
Last week in the wholesale automotive market proved to be a mixed bag, analysts reported.
Read More →
Black Book: Weekly Market Update
Conversion rates were flat last week at 63%, Black Book analysts calculated, as low-mileage and almost-near units outpaced the overall market.
Read More →
EU Auto Association Urges Action
Trade relations between the European Union and the U.S. are at risk, causing the European Automobile Manufacturers Association to push lawmakers to make a decision.
Read More →
Driving into the Super CFC Era
Understanding the risks and benefits of retail accounting and Super CFCs can help you better present options to your dealer partners.
Read More →