FEBRUARY 24, 2022

Prepare for Service Retention Rates to Drop

A perfect storm of factors will contribute to a nosedive in service retention rates and corresponding service revenue, quite possibly at a time when inventory levels are normalizing and front-end margins are dropping back to normal.

Purchase Orders Protect Auto Dealership Profits

Under a purchase order, a dealer who buys anything from a vendor agrees to a certain price and certain terms, both of which affect profits. That kind of binding agreement is pretty important right now with all the instability in the supply chain.

Your Service Strategy with Inventory Shortages
When inventory is low, your service department can make up for lost sales revenue and become a rich resource for used car inventory. In the new Lean Inventory Playbook, you’ll learn strategies specific to the service department for overcoming inventory shortages.

Megadealer Groups See Parts, Service Revenue Jump in 2021

Despite large gains in parts and service revenue, the recovery from the lows experienced in 2020 because of pandemic shutdowns continued to be slow for warranty work and for collision repair.

Illinois Law Passed to Boost Dealership Technicians’ Wages

Illinois Gov. J.B. Pritzker has signed legislation requiring automakers to pay dealers the same labor rates and times for warranty work as the dealers are paid by retail customers for non-warranty work, Repairer Driven News reports.

Colorado Dealership Installs Solar Panels to Cover Inventory

At Stapp Interstate Toyota in Frederick, CO, they've combined solar panels with hail cover canopies, claiming to be the first dealership in the world to do so, KUSA-TV reports.

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