Do you regularly review and maximize your reimbursement rates to ensure efficiency and profitability?
In the AutoSuccess Executive Spotlight, host Brian Ankney discusses warranty rate disparity in automotive dealerships with Chris Forgione of Formula Automotive. Forgione explains that this disparity stems from the difference in reimbursement rates between manufacturers and what state laws allow dealerships to charge for warranty work. He highlights the substantial financial impact for dealers who optimize their reimbursement rates, noting that adjustments in parts markup and labor rates can significantly increase monthly profits.
Forgione stresses the importance of dealerships regularly reviewing and maximizing their reimbursement rates to ensure financial efficiency and profitability in their service departments.
Watch the AutoSuccess video to learn more about this and more!
Warranty Reimbursement Done Better