VisionAST recently released to customers, their Q3 2024 quarterly benchmark report, which encompasses performance of their entire dealership client base. Dealers can use the report to compare their own operation to the live reporting available to them.
Some key Q3 trends for variable operations worth noting:
Variable Operations
- Total gross profit decreased for the past 5 quarters and is down nearly $2,500 since Q2 2022.
- PPVR % (profit on F&I products not including bank reserve) is tied for the highest in VisionAST history at 63.6% with Q4 2022.
- This could be tied to an increase cash deals and less room for bank reserve profit due to high interest rates.
- Sales gross PVR is the lowest in VisionAST history at $679.79 (previous low was Q2 2024 at $834.71).
These variable operations trends are expected to continue into 2025 as new and used car inventories normalize, creating additional margin compression. Successful dealers will continue to focus on increased F&I production and parts and service revenue and retention. Fixed operations accounted for approximately 50% of revenue in 2024 and we expect this trend to hold through 2025.
Curious how your dealership’s performance compares to the averages for Q3 2024?
Contact Kyle Reid for a walk-through of our FinanceVision, SalesVision and/or ServiceVision platforms and see how this reporting tool differentiates itself from the rest of the auto industry with a focus on accuracy and ease of use.
Kyle Reid
VP of Strategic Partnerships
904-315-4767
kreid@visionast.com