Learning Hub

The Mechanical Industry

How do I price my mechanical parts?

Price your parts right, and specific to each customer.

You should price your parts specific to each customer. We know this sounds like a lot, but think of all the relationships you already have established. For example, you can have Jim Auto's discount be List - 25%, but have Allen's Auto be Cost + 34%.

For Imports using RepairLink: Matrix Pricing formulas help maintain your dealership's overall profit margins. These pricing "escalators" can be used to add specific dollar or percentage increases to the list price for a part. Once applied, the matrix pricing formula will increase the List price column within RepairLink Shop. Note: Any Trading Partner discounts that discount based on the list price will be applied to the list price with the matrix increase.

You can apply different matrix pricing to each OEM that you stock parts for; however, the formula will be applied to all shops. Once a Matrix Pricing formula has been created, it can be modified at any time.

Many shops like RepairLink since OEMs have established discount programs, and dealers can stack their own discount if they want to.

Make sure you have an outlined plan on sales goals, and how to reach those goals.
It's a common misconception that you can't compete against the aftermarket, but it doesn’t hold a lot of truth.