VisionAST recently released to customers, their Q2 2024 quarterly benchmark report, which encompasses performance of their entire powersports dealer client base. Dealers can use the report to compare their own operation to the live reporting available to them.
Some key Q2 trends for both variable operations worth noting:
- Total profit margin increased by 2%.
- Reserve at an all-time high at $326.91/deal.
- VSC PVR has increased $63.62/deal since Q1 2024 but is down $51.58/deal compared to the average of the last 3 ½ years.
- Units sold at an average of 100/month is at an all-time high.
- F&I gross is showing the greatest percentage impact on total gross since 2021, currently at 25% of total gross.
- PPVR decreased by $29.86/deal, most likely related to reserve having a major impact this past year but more importantly this past quarter.
- Total gross average per deal is down $139.83.
- Nearly 100% of the decrease is due to decrease in sales gross
- F&I profitability index has increased 17 points (from 117 in 2023 Q2).
- Profit per invoice increased $3.09 compared to Q2 2023.
- ELR has increase $2.80 compared to Q2 2023.
- Gross profit per parts advisor has decreased $573.27 compared to Q2 2023.
Curious how your dealership’s performance compares to the benchmarks for Q2 2024? Contact Kyle Reid for a walk-through of our PowerVision and ServiceVision platform and see how this reporting tool is transforming the powersports industry for Lightspeed dealers:
Kyle Reid
VP of Strategic Partnerships
904-315-4767
kreid@visionast.com