VisionAST recently released to customers, their Q4 2024 quarterly benchmark report, which encompasses performance of their entire dealership client base. Dealers can use the report to compare their own operation using the live data available to them on the VisionAST platform.
Some key Q4 trends for variable operations worth noting:
Variable Operations
- PPVR% (F&I profit for product only, no bank reserve) is the highest VisionAST has ever recorded at 66.9%.
- Percentage of vehicles financed is decreasing, lowering total bank reserve revenue.
- Increased penetrations for multiple products:
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- VSC +6.94%
- Appearance +5.75%
- GAP +2.41%
- Theft +1.49%
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- Appearance products are the second most popular product on new vehicles over-taking GAP, with average income for Appearance on new vehicles at $55.11 higher per deal than GAP.
- F&I PVR increased for the first time since Q1 2024.
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 Q4 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