Integrated Dealer Systems’ (IDS) Dealership Industry Insights report for June shares sales, F&I information and RECT benchmarks from participating dealerships around the country.
June’s report found 70% of sales in the month were new RVs. Half of the RVs sold included ancillary products.
A total of 282 dealerships were included in the report, reporting June revenues of $558 million, down 14% from June 2022 and 23% from June 2021.
Nearly two-thirds of all sales (64%) were financed. Although 42% of all RVs sold included a service contract, F&I sales were much lower in roadside assistance (19%), paint and fabric (18%) and tire and wheel (10%).
RVs sold for an average of $52,241 in June. The average interest rate for RV loans was 9.7%.
The report reviewed 40,180 work orders to track repair event cycle time (RECT). Dealerships averaged 104 work orders per lot in June, with 41% of orders falling under warranty coverage. A quarter of work orders (24%) had out-of-stock parts.
Overall, RECT averaged 30 days in June. Orders with warranty coverage averaged 45 days while orders with out-of-stock parts averaged 65 days.
The report also included the top five warranty parts ordered from manufacturers, based on the number of parts ordered in the second quarter.
Grand Design’s label tire placard was the most ordered part. The placard required seven identification days and 12 lead time days.
Winnebago’s awning wedge, item RC7905-23-771, was next. The wedge required 13 identification days and eight lead time days.
Keystone RV’s drain box cover, item 270590, required 20 identification days and seven lead time days.
Jayco’s 7-inch control panel, item 0340940, required 38 identification days and seven lead time days.
Grand Design’s door pull handle, item 662704, rounded out the top five. The handle required 37 identification days and 16 lead time days.
