Formula Automotive Consulting & Technologies

As the end of the year approaches and you live in a state that allows for Calendar Year Warranty Rate submissions, what are some things that you should be doing to prep for that January 1 submission date?* *Submitting as early as legally allowed gives your dealership the advantage of as much time with your optimized rate as possible. Our approach to Warranty Rate Submissions is more proactive, more timeline focused, more strategic, and more relationship focused. https://lnkd.in/e59VUFE9

The demand for skilled technicians remains high, making it imperative for dealerships to offer competitive wages to both attract new hires and retain existing employees. Equitable compensation at retail rates for warranty work serves as a vital revenue stream that can elevate dealership service centers and help alleviate talent shortages within the technician workforce. For assistance moving the needle on your parts and labor rate submissions, contact us. https://lnkd.in/e59VUFE9 #Automotive #AutoNews #WarrantyReimbursement

Time is the most precious resource you have.? We spend the time on your submissions so that you can spend time on what is most important to you. There are no upfront costs. We only invoice after submission. Contact us to find out just how much working with us could positively affect your gross profit. https://lnkd.in/e59VUFE9

We worked with our New York-based Chevy dealership client to submit for an increased labor rate of $190.35, up from their previous rate of $135. Full ask was granted this week by the OEM for a 41% increase in their labor rate. This will have substantial impact on their gross profit with near immediate effect. For a no-cost analysis to determine what rate you qualify for, please contact us. https://lnkd.in/e59VUFE9

The average dealer can add $100,000 to $200,000 in annual gross profit when reimbursed at its client repair rate for warranty repairs.??For larger dealer groups, the annual addition can be significantly greater. Dealers, we can help you tap into this revenue stream and add the profits that legally belong to you back to your bottom-line. https://formulaauto.com/

The Florida Automobile Dealers Association knows how to host an event. It was a truly great evening and a wonderful chance to catch up with dealers and other vendors in Florida. Congrats to the new inductees!

We help dealers navigate the warranty reimbursement space by leveraging state law to realize industry-best results. That’s it. It isn’t watered down with anything else. https://lnkd.in/e59VUFE9

We do Warranty Reimbursement, better. That’s it. That’s our sole focus. We don’t water it down with anything else. With years of experience in the industry, our team has performed thousands of rate increase projects, in all eligible states for every auto manufacturer. Reach your full revenue potential and industry-best results. Contact us to get started. https://lnkd.in/e59VUFE9

Yes, if you haven't already submitted for 2024 or if you live in a state that allows biannual submissions, there is definitely still time to submit for your increased warranty rate. For a dealer we worked with recently, this effort added over $1M in GP for one location. Email or call us directly: https://lnkd.in/e59VUFE9

Fourth quarter is the time to hone in on your warranty reimbursement opportunities. Submissions can start on Jan 1. If you're hoping to move the needle on your warranty rate in 2025, let us know. We can run a number of market rate studies and analyses to amplify your 2025 submissions. Don’t leave money on the table. It’s time to harness the full potential of your auto or heavy truck dealership’s warranty reimbursements and boost your bottom line. https://lnkd.in/e59VUFE9