With dealer management systems offering more sophisticated reporting, dealers can leverage analytics more than ever before. But with so much data available, it can be difficult to know which metrics to track to have the biggest impact on your business. Dealers can leverage resources offered by industry organizations and their dealer management system providers to help them identify standard KPIs and benchmark their business against others in their region/ across the nation. STANDARD DEALERSHIP KPIS
If you can measure it, you can manage it. There are certain standard metrics that every dealer should track for efficiency and profitability, across every department. Here are standard metrics that many dealerships are now using to track performance, according to Bob Clements .
Owner/GM: • Total Invoice Revenue per Day • Total Invoice Gross Profit per Day • Total Invoice Gross Percentage per Day • New Customers per Day • Customer Payments Made per Day • Total Number of Invoices per Day • Inventory Adjustments per Day • Average Revenue per Invoice per Day • Average Profit per Invoice per Day Parts: • Total Invoice Revenue per Day • Total Invoice Gross Profit per Day • Total Invoice Gross Percentage per Day • Number of Parts Invoices per Day • Average Revenue per Invoice per Day • Parts Revenue per Manufacturer • Back-Ordered Parts per Manufacturer • Average Gross Profit per Invoice per Day • Fill Rate per Day Rentals: • Financial Utilization • Time Utilization • Average Rental Rate • Washout Percentage (at end of life) • Maintenance to Income Ratio
Service: • Total Invoice Revenue per Day • Total Invoice Gross Profit per Day • Total Invoice Gross Percentage per Day • Average Work Order Completion Time
• Recovery Rate per Day • Labor Efficiency per Day • Effective Labor Rate per Day
• Average Service Revenue per Invoice per Day • Average Service Profit per Invoice per Day
Sales: • Total Invoice Revenue per Day • Total Invoice Gross Profit per Day • Total Invoice Gross Percentage per Day • Wholegood Revenue per Manufacturer
• Wholegood Revenue per Category • Wholegood Revenue per Sales Rep • Wholegood Gross Profit per Sales Rep • Wholegood Gross Profit Percentage per Sales Rep • Average Revenue per Invoice per Day
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