Car service in a short time is a real salvation in case of a car breakdown. You can get qualified car repair assistance in Moscow at the Service-Auto technical center at an affordable price.
Your car will be serviced by competent service technicians and body repair, auto mechanics and electricians. Contemporary technical equipment, rich experience and a choice of original components will quickly get you back behind the wheel of a four-wheeled "friend".
All types of repair work in one place
Our auto repair center specializes in passenger cars mobiles Ford and Mazda brands. We also service most German, Japanese, Korean foreign and domestic cars. The list of available car service includes:
- Locksmith work: repair and maintenance of gearboxes, brakes, suspension, steering.
- Diagnostics and maintenance of the fuel system.
- Engine repair.
- Auto electrician services.
- Tire service and wheel balancing.
- Camber setting.
- Straightening and replacement of body parts.
- Replacement of service fluids.
- Flushing the cooling radiator.
Diagnostics of car systems is carried out using modern autoscanners and dealer equipment.
The deadline for maintenance is approaching - call us
Passing MOT will take only 40 minutes of your time, and the queue is formed separately from diagnostics and repair work. Moreover, the maintenance station operates on an extended schedule and without lunch breaks. The services of a car service center for issuing diagnostic cards for technical inspection are available to individuals and legal entities, owners of vehicles of category M1.
Why Muscovites choose Techcenter Service-Auto
Our car service in Moscow has a number of advantages:
- We have minimized production costs due to modern equipment, the purchase of spare parts and consumables is carried out in bulk from manufacturers.
- All services are covered by a 6 month warranty.
- We accurately determine the cause of breakdowns, and not just eliminate the consequences.
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Introduction
Car service occupies an important place in the complex sector of the economic life of the population, which is motorization. Russian market automobiles has become part of a global market focused on consumers, and everything that is beneficial to customers is already being implemented by those enterprises that want to grow and develop. Activities in the field of trade in automobiles and spare parts, maintenance and repair of automobiles now have great opportunities. There are thousands of enterprises in the world engaged in this business.
The growth of the car fleet determines the increased requirements for the functioning and development of the auto maintenance system. The complexity of the design of cars, an increase in the number of people who are not always competent in matters technical operation cars they own. This direction goes beyond the traditional concepts of consumer services due to the specific features associated with the operation and maintenance of the car.
The concept of "car service" reflects the constant desire of car owners in a variety of standardized maintenance and repair services.
Servicing requirements are getting tougher. Now the client dictates the terms of this type of activity. The consumer needs a serviceable car, and he buys it where they offer fast and high-quality after-sales service, and there is a guarantee of the availability of spare parts. After-sales service plays important role in customer satisfaction, it once again shows the consumer the manufacturer's concern for its customers.
Over the past decade, the market for the sale of cars and their Maintenance changed a lot. The changes are both quantitative and qualitative. In addition to Russian cars, a significant number of foreign cars appeared. The requirements for maintenance services have changed. It is necessary not only to repair a car at any cost, but to do it quickly, cheaply and at a high technical level. Before automotive market was focused mostly on the car than on the person with the car, in connection with which its organization, production processes were significantly changed in relation to demand. The conditions of a market economy have transformed the relationship between seller and buyer. The transition to the market has become road transport the beginning of a new stage of its development: new types of activities and forms of maintenance are being introduced.
Foreign cars and Russian cars sooner or later it will need to be repaired. The choice of a place of service today is large and varied, signs: “Car service”, “Car repair”, “Auto repair”, etc. can be found everywhere. Maintenance of cars, especially foreign cars, is considered a profitable business. Today, they earn both branded service centers certified by the automaker and service stations (SRTs) specializing in the repair of several brands of foreign cars or even in the maintenance of individual components ( automatic transmissions, engine management systems, etc.) or performing one type of work, for example: body repair, body painting, overhaul engines, etc. At the same time, repair work is carried out by many private mechanics who work in workshops of two or three people at garage cooperatives (often in an ordinary garage box).
However, the growth in the number of car service workers, as practice has shown over the past 20 years, has worsened its quality side. People without education - self-taught people got into the sphere of car service. Parts of dubious quality that do not have a manufacturer's certificate appear on the market. "Gray" service stations due to the large model range vehicles cannot provide the entire range of spare parts, do not have special tools, trained specialists. These violations pose a threat to the population, because. the car continues to be an object of increased danger.
The prevailing trends in auto maintenance during the period of their mass development in Russia explained the emergence of a number of major technical, social, law enforcement and other problems. The development of the country's car service system in the future will be the more intensive and effective, the more the organization of a car service will be based on:
Development of automation, mechanization of repair processes;
Best practices and on the achievement of scientific and technological progress;
Innovations in the technology of car repair and maintenance;
Improvement and development of methods and forms of organization of labor and production processes;
Introduction of computer software.
Each of the above areas has its own technical, economic and social significance for the development of a car service.
The modern auto service business occupies an important place in the economy and contributes to meeting the needs of the population. The development of a car service business is possible only with the efficient use of material, labor and financial resources, and it is the level of efficiency in the use of all the resources available to the service that determines the degree of successful business.
The relevance of the theme of the effectiveness of the financial and economic activities of the car service LLC Ikhteon explains by the need to study theoretical and methodological aspects, analyze the financial condition in order to increase the efficiency of the enterprise.
The purpose of the diploma project is to develop measures to improve the efficiency of financial and economic activities of Ikhteon LLC.
The objectives of the study are:
Study of theoretical aspects and methods for evaluating the effectiveness of financial and economic activities;
Conduct an analysis of the financial and economic activities of the car service LLC "Ikhteon";
Propose measures to improve the efficiency of the financial and economic activities of the car service LLC "Ikhteon";
Conduct an economic evaluation of the proposed activities.
The object of research in the graduation project is the limited liability company "Ikhteon".
The subject of the research is the efficiency of financial and economic activity.
In the process of writing the graduation project, textbooks and manuals on the theories of financial analysis were used. Articles in leading accounting and financial publications, open publications from various Internet sites.
The diploma project consists of an introduction, four chapters, a conclusion, a list of references and applications.
financial economic economic car service
1. Theoretical aspects of the efficiency of financial and economic activities
1.1 The concept, tasks of assessing the financial and economic activities of the enterprise
The content of the assessment of financial and economic activity consists in a comprehensive study technical level production, quality and competitiveness of manufactured products, provision of production with materials, labor and efficiency of their use. This analysis was created on a systematic approach, comprehensive consideration of various factors, high-quality selection of reliable information and is important function management.
The purpose of the analysis of the financial and economic activities of the enterprise is to increase the efficiency of its functioning on the basis of a systematic study of all types of activities and substantiation of their results.
The objectives of the effectiveness of the financial and economic activities of the enterprise are:
Identification of the real state of the analyzed object;
Study of the composition and properties of the object, its comparison with known analogues or basic characteristics, normative values;
Forecast of major trends;
Identification of changes in the state of the object in the spatio-temporal context;
Establishment of the main factors that caused changes in the state of the object, and taking into account their influence.
The subject of the effectiveness of the financial and economic activity of the enterprise is the analysis of production and economic results, the state and use of fixed assets, the cost of selling services.
The object of analysis of the financial and economic activities of the enterprise is the work of the enterprise as a whole and its structural divisions (workshops, brigades, sections), and the subjects are centers, public organizations, analytical services of enterprises.
The functions of assessing the financial and economic activities of an enterprise are: control, organizational, accounting, stimulating and indicative.
When evaluating financial and economic activities, it is necessary to be guided by certain principles and rules developed by science and practice: objectivity, complexity, consistency, mass character, effectiveness, regularity, efficiency, efficiency.
To manage production processes, you need to have complete and truthful information about the progress of the production process, about the progress of the plans. Therefore, one of the functions of production management is accounting.
Understanding information is achieved through economic analysis. Based on the results of the analysis, management decisions are developed.
Results in any area of business depend on the efficiency of the use of financial resources, which are equated to the "circulatory system" that ensures the life of the enterprise. Therefore, taking care of finances is the starting point and the end result of the activity of any business entity. To determine the essence of the analysis of the financial and economic activities of the enterprise, it is necessary to define its main elements. Such elements are: the finances of the enterprise, the structure of the enterprise's funds, the structure of the enterprise's property, the subjects of analysis.
In the conditions of market relations, the finances of enterprises are of particular importance. The growing role of enterprise finance should be seen as a worldwide trend.
The finances of enterprises are a system of relations that are associated with their cash payments and arise in the process of individual circulation of enterprise funds. The financial processes of enterprises are in the formation of their cash income and expenses.
Financial relationships take place between:
Enterprises when paying for various supplies, works, services, sales of products, payment and collection of penalties;
Enterprises with mutual financial investments (equity participation, purchase of securities, provision of loans);
Enterprises and individual shareholders when distributing shares and paying dividends on them;
Enterprises and labor collectives in the process of payroll calculations;
Enterprises and accountable persons, personnel of enterprises for operations not related to payroll calculations, as well as various debtors and creditors;
Enterprises, tenants, higher organizations for rent payments;
Enterprises and the state budget in the calculation and payment of taxes and sanctions, targeted budget financing, the provision of tax benefits;
Enterprises and bodies of social insurance, off-budget funds in the calculation and payment of insurance premiums, contributions to the Pension Fund, etc.;
Enterprises and banks in the process of lending and repayment of loans, in the payment of interest, in the implementation of other types of banking services. The finances of enterprises serve the continuous circulation of enterprise funds and sources of their formation, which consists in the supply, production, marketing, receipt and distribution of financial results (revenues, profits). In the process of circulation, there is a continuous change in the structure of the enterprise's funds and their sources, defined as the ratio between the elements of property and the elements of the capital that forms it.
The structure of the company's funds is formed as a proportion between the value of fixed assets, stocks and costs, cash, settlements and other current assets. The structure of the sources of the enterprise's property is the proportion between the cost values of the sources of own funds, long-term loans and borrowings, short-term loans and borrowings. Each of the listed aggregates, respectively, has its own structure, determined by smaller elements.
The ratio of the structure of the enterprise's funds and the structure of the sources of their formation at each fixed point in time sets the financial condition of the enterprise, the stability of which is one of the most important tasks of financial analysis. Operations carried out in the course of the financial and economic cycle and constituting the content of the processes of supply, production, marketing. Continuously change the financial condition of the enterprise. Sets of homogeneous business operations form business processes. Their impact on the dynamics of the financial condition and financial results of the enterprise, reflected in specific systemic economic models, should be the subject of research in financial theory. Only on the basis of such financial models can an objective, correct complexity of the financial and economic circulation of an enterprise, a method of financial analysis be built.
The main purpose of assessing the financial and economic activities of an enterprise is to obtain a small number of key parameters, giving an objective and accurate picture of the financial condition of the enterprise, its profits and losses, changes in the structure of assets and liabilities, in settlements with debtors and creditors.
The assessment of the financial and economic activities of an enterprise is a way of accumulating, transforming and using information of a financial nature, with the aim of:
Assess the current and prospective financial condition of the enterprise;
Assess the possible and appropriate pace of development of the enterprise;
Identify available sources of funds and assess the possibility and expediency of their mobilization;
Predict the position of the enterprise in the capital market.
The main objectives of the analysis of financial and economic activities are:
Assessment of the dynamics, composition and structure of assets, their condition and movement;
Assessment of the dynamics, composition and structure of sources of own and borrowed capital, their condition and movement;
Analysis of absolute and relative indicators of the financial stability of the enterprise and assessment of changes in its level;
Analysis of the solvency of an economic entity and the liquidity of the assets of its balance sheet.
User requests (investors, partners) for analytical information to assess the real financial condition of the enterprise;
The expediency of the most complete disclosure of available information on the financial stability of the organization in an effort to make it the most "open" ("transparent");
The need for practice in the calculation of new indicators for assessing the financial position of economic entities that are adequate to the modern system of economic relations and the conditions for the formation of an information base for analysis;
Production and financial necessity in connection with the promotion of goods and services in the domestic and international markets;
The need for additional information about the financial condition of economic entities (the so-called "analytical") according to multivariate analysis for the development and justification of optimal management decisions by its external and internal users.
The analysis of financial and economic activity acts not only as the main component of any of the management functions (forecasting and business planning, regulation, accounting and control; stimulation; assessment of business conditions, etc.), but is itself a type of management activity that contributes to managerial decision-making to keep the business going required level.This active role of analysis poses important tasks for it, among which:
1. Free interaction of market entities, competition, enhanced by forensic tendencies and the oppression of monopolies, commercial risk and the uncertainty of obtaining the expected economic benefits, the likelihood of the expected damage occurring or obtaining a result below the required value highlight the problem of choice. Hence, the task of substantiating the choice of optimal business solutions from the available alternatives becomes very relevant for analysis.
2. The task is not only to maximize profits, but also to successfully eliminate the influence of uncertainty and risk; not only to ensure liquidity and profitability, but to a greater extent - to achieve “shareholder welfare”, taking into account commercial risks, which will ensure the necessary financial stability in the future.
3. Through financial analysis, an economic entity considers a wide range of tools and means to achieve the desired results (for example, minimizing costs, maintaining a balance between profitability and financial stability, preventing economic crises) and developing methods for diagnosing the likelihood of bankruptcy.
4. A developed system of financial analysis and evaluation of the activities of economic entities makes it possible to identify and systematize the solution of the most complex and frequently occurring economic situations and develop the most effective recommendations for their elimination.
5. Economic practice requires the use in the analysis of accounting for the solution of social, environmental and humanitarian problems, the problems of using net profit and its capitalization.
6. Improving the methods of studying the market and partners in it can be considered as an important independent task of analysis.
7. The task of increasing the active role of analyzing the financial and economic activities of an enterprise as an information base for making optimal business decisions along with the traditional task of improving all sources of information, including increasing the similarity of accounting, reporting, regulatory and other information.
8. The implementation of traditional tasks of economic analysis, such as the mobilization of identified reserves for increasing production efficiency and strengthening its intensification, in the current economic situation is complicated by the need to take into account uncertainty and commercial risks, the probabilistic nature of events and their estimates, inflationary processes, modern characteristics the cost of cash flows. All this requires the improvement of the methodology of financial analysis, without which it is not possible to strengthen its role in business management.
1.2 Methodology for assessing the financial and economic activities of the enterprise
The methodology for analyzing financial and economic activities is a set of analytical procedures used to determine the financial and economic condition of an enterprise. Experts in the field of analysis give different methods for determining the financial and economic condition of an enterprise. However, the basic principles and sequence of the procedural side of the analysis are practically the same with slight differences. Detailing the procedural side of the methodology for analyzing financial and economic activities depends on the goals set and various factors of information, methodological, personnel and technical support. Thus, there is no generally accepted methodology for analyzing the financial and economic activities of an enterprise, however, in all significant aspects, the procedural aspects are similar.
Information support is important for analysis. This is due to the fact that, in accordance with the Law of the Russian Federation "On Informatization and Information Protection", an enterprise may not provide information containing a trade secret. But usually for making many decisions by potential partners of the company, it is sufficient to conduct an express analysis of financial and economic activities. Even to conduct a detailed analysis of financial and economic activities, information constituting a trade secret is often not required. To conduct a general detailed analysis of the financial and economic activities of an enterprise, information is required according to the established forms of financial statements, namely:
Form No. 1 Balance sheet
Form No. 2 Profit and loss statement
Form No. 3 Capital flow statement
Form No. 4 Statement of cash flows
Form No. 5 Appendix to the balance sheet
This information, in accordance with Decree of the Government of the Russian Federation of December 5, 1991 No. 35 "On the list of information that cannot be a trade secret" cannot be a trade secret.
Analysis of the financial and economic activities of the enterprise is carried out in three stages.
At the first stage, a decision is made on the appropriateness of the analysis of financial statements and its readiness for reading is checked. The problem of the appropriateness of the analysis allows you to solve the familiarization with the audit report. There are two main types of audit reports: standard and non-standard. A standard audit report is a unified summary document containing a positive assessment of the audit firm on the reliability of the information presented in the report and its compliance with current regulatory documents. In this case, the analysis is expedient and possible, since the reporting in all significant aspects objectively reflects the financial and economic activities of the enterprise.
A non-standard audit report is drawn up in cases where the audit firm cannot draw up a standard audit report for a number of reasons, namely: some errors in the company's financial statements, various uncertainties of a financial and organizational nature, etc. In this case, the value of the analytical conclusions drawn up on the basis of these statements is reduced. Checking the readiness of statements for reading is of a technical nature and is associated with a visual check of the availability of the necessary reporting forms, details and signatures on them, as well as the simplest accounting check of subtotals and balance sheet currency.
The purpose of the second stage is to familiarize yourself with the explanatory note to the balance sheet, this is necessary in order to assess the conditions for the functioning of the enterprise in this reporting period and take into account the analysis of the factors whose impact led to changes in the property and financial position of the organization and which are reflected in the explanatory note.
The third stage is the main one in the analysis of economic activity. The purpose of this stage is to evaluate the results of economic activity and the financial condition of an economic entity. It should be noted that the degree of detail of the analysis of financial and economic activities may vary depending on the goals set. At the beginning of the analysis, it is advisable to characterize the financial and economic activities of the enterprise, indicate industry affiliation and other distinguishing features. If the amounts under these items are necessary, study the reasons for their occurrence. Sometimes information in this case can only be provided by further analysis and final conclusions can be drawn later.
An analysis of the financial and economic condition of an enterprise consists, in general, of the following main components: Analysis of property status, analysis of liquidity, analysis of financial stability, analysis of business activity, analysis of profitability.
These components are closely interconnected and their separation is necessary only for a clearer separation and understanding of the conclusions on the analytical procedures for analyzing the financial and economic activities of the organization.
Analysis of property status consists of the following components: analysis of assets and liabilities of the balance sheet, analysis of indicators of property status.
When analyzing the assets and liabilities of the balance sheet, the dynamics of their condition in the analyzed period is traced. It should be borne in mind that under conditions of inflation, the value of analysis in terms of absolute indicators is significantly reduced, and in order to neutralize this factor, analysis should also be carried out in terms of relative indicators of the balance sheet structure. When assessing the dynamics of property, the state of all property is traced as part of immobilized assets (I section of the balance sheet) and mobile assets (II section of the balance sheet - stocks, receivables, other current assets) at the beginning and end of the analyzed period, as well as the structure of their growth (decrease).
The analysis of indicators of property status consists in the calculation and analysis of the following main indicators:
The amount of economic assets at the disposal of the enterprise. This indicator gives a generalized valuation of assets listed on the balance sheet of the enterprise.
The share of the active part of fixed assets. The active part of fixed assets should be understood as machines, machine tools, equipment, vehicles etc. The growth of this indicator is considered as a positive trend.
Wear factor. It characterizes the degree of depreciation of fixed assets as a percentage of the original cost. Its high value is an unfavorable factor. The addition of this indicator to 1 is the coefficient of validity.
Renewal ratio - shows what part of the fixed assets available at the end of the period are new fixed assets.
Retirement ratio - shows what part of the fixed assets withdrew from the economic turnover for the reporting period due to wear and tear.
Analysis of the company's liquidity is based on the calculation of the following indicators:
Maneuverability of functioning capital. It characterizes that part of own working capital, which is in the form of cash, i.e. funds with absolute liquidity. For a normally functioning enterprise, this indicator usually varies from zero to one. Ceteris paribus, the growth of the indicator in dynamics is considered as a positive trend. An acceptable indicative value of the indicator is set by the enterprise independently and depends, for example, on how high the daily need of the enterprise for free cash resources is.
Current liquidity ratio. Gives a general assessment of the liquidity of assets, showing how many rubles of the company's current assets account for one ruble of current liabilities. The logic of calculating this indicator is that the company repays short-term liabilities mainly at the expense of current assets; therefore, if current assets exceed current liabilities, the enterprise can be considered as successfully functioning (at least in theory). The amount of excess and is set by the current liquidity ratio. The value of the indicator may vary by industry and type of activity, and its reasonable growth in dynamics is usually regarded as a favorable trend. In Western accounting and analytical practice, the critical lower value of the indicator is -2; however, this is only an indicative value, indicating the order of the indicator, but not its exact normative value.
Quick liquidity ratio. By semantic purpose, the indicator is similar to the current liquidity ratio; however, it is calculated for a narrower range of current assets, when the least liquid part of them - inventories - is excluded from the calculation. The logic behind this exclusion is not only that inventories are significantly less liquid, but, more importantly, that the cash that can be raised in the event of a forced sale of inventories can be significantly lower than the cost of acquiring them. In particular, in a market economy, a typical situation is when, during the liquidation of an enterprise, they receive 40% or less of the book value of inventories. In Western literature, an approximate lower value of the indicator -1 is given, however, this estimate is also conditional. In addition, when analyzing the dynamics of this coefficient, it is necessary to pay attention to the factors that caused its change.
Absolute liquidity ratio (solvency). It is the most stringent criterion for the liquidity of an enterprise; shows what part of short-term debt obligations can be repaid immediately if necessary. The recommended lower limit of the indicator given in Western literature is -0.2. In domestic practice, the actual average values of the considered liquidity ratios, as a rule, are significantly lower than the values mentioned in Western literary sources. Since the development of industry standards for these coefficients is a matter of the future, in practice it is desirable to analyze the dynamics of these indicators, supplementing it with a comparative analysis of available data on enterprises that have a similar orientation of their economic activity.
The share of own working capital in covering stocks. Characterizes that part of the cost of inventories, which is covered by own working capital. Traditionally, it is of great importance in the analysis of the financial condition of trade enterprises; the recommended lower limit of the indicator in this case is -50%.
Inventory coverage ratio. Calculated by correlating the value of "normal" sources of coverage of reserves and the amount of reserves. If the value of this indicator is less than one, then the current financial condition of the enterprise is considered as unstable. One of the most important characteristics of the financial condition of an enterprise is the stability of its activities in the light of a long-term perspective. It is related to the overall financial structure of the enterprise, the degree of its dependence on creditors and investors. Financial stability in the long term is characterized, therefore, by the ratio of own and borrowed funds. However, this indicator gives only a general assessment of financial stability. Therefore, in the world and domestic accounting and analytical practice, a system of indicators has been developed.
Equity concentration ratio. Characterizes the share of the owners of the enterprise in the total amount of funds advanced in its activities. The higher the value of this ratio, the more financially stable, stable and independent of external loans the enterprise. An addition to this indicator is the concentration ratio of attracted (borrowed) capital - their sum is equal to 1 (or 100%).
Coefficient of financial dependence. It is the inverse of the equity concentration ratio. The growth of this indicator in dynamics means an increase in the share of borrowed funds in the financing of the enterprise. If its value is reduced to one (or 100%), this means that the owners fully finance their enterprise.
The coefficient of maneuverability of equity capital. Shows what part of equity is used to finance current activities, i.e. invested in working capital, and what part is capitalized. The value of this indicator can significantly vary depending on the capital structure and industry sector of the enterprise.
Coefficient of structure of long-term investments. The logic for calculating this indicator is based on the assumption that long-term loans and borrowings are used to finance fixed assets and other capital investments. The coefficient shows what part of fixed assets and other non-current assets is financed by external investors, i.e. (in a sense) belongs to them, and not to the owners of the enterprise.
The ratio of own and borrowed funds. Like some of the above indicators, this ratio gives the most general assessment of the financial stability of the enterprise. It has a fairly simple interpretation: its value, equal to 0.25, means that for every ruble of own funds invested in the assets of the enterprise, 25 kopecks fall. Borrowed money. The growth of the indicator in dynamics indicates an increase in the dependence of the enterprise on external investors and creditors, i.e., a slight decrease in financial stability, and vice versa.
The indicators of the business activity group characterize the results and efficiency of the current main production activity.
The generalizing indicators for assessing the efficiency of the use of enterprise resources and the dynamism of its development include the indicator of resource efficiency and the coefficient of sustainability of economic growth. Resource productivity (turnover ratio of advanced capital). It characterizes the volume of sold products per ruble of funds invested in the activities of the enterprise. The growth of the indicator in dynamics is considered as a favorable trend.
Coefficient of sustainability of economic growth. It shows the average pace at which an enterprise can develop in the future, without changing the already established ratio between various sources of financing, capital productivity, production profitability, etc.
The detailing of the procedural side of the methodology for assessing the financial and economic condition depends on the goals set, as well as on various factors of information, time and technical support and is carried out in two stages: a preliminary assessment, that is, an express analysis, a detailed analysis of the financial condition. Therefore, the main purpose of express analysis is a clear and simple overall assessment of the financial position and dynamics of the economic development of the enterprise. The meaning of this analysis is to select a small number of significant and relatively easy to calculate indicators and constantly monitor them in dynamics. Its quality depends on the applied methodology of financial analysis, the reliability of financial statements, as well as on the competence of the person making the management decision.
A detailed analysis of the financial condition is more detailed description the property and financial position of the economic entity, the results of its activities in the past reporting period, as well as the possibilities for the development of the economic entity in the future. It concretizes, supplements and expands individual express analysis procedures, and also makes it possible to make financial forecasts.
The assessment of the financial condition of an enterprise in a market economy and the achievement of the goals of financial analysis is carried out using a certain method. The method of financial analysis is a system of epistemological categories, scientific tools and regulatory principles for studying the activities of business entities, that is, a triad:
Method = (K, I, P), (1)
where K is the system of financial categories;
I - scientific financial tools;
P - system of regulatory financial principles.
The first two elements characterize the static component of the financial analysis method, the last element characterizes its dynamics.
The categories of financial analysis are the most general, key concepts of this science. Among them: factor, model, rate, percentage, discount, cash flow, risk, etc. The scientific tools of financial analysis are a set of general scientific and specific scientific methods for studying the financial activities of economic entities.
The main element of the method of any science is its scientific apparatus. At present, it is practically impossible to isolate the techniques and methods of any science as inherent exclusively to it - there is an interpenetration of scientific tools of various sciences. In financial analysis, various methods can also be used that were originally developed within the framework of a particular economic science. There are various classifications of economic analysis methods. The first level of classification of methods for classifying financial analysis highlights non-formalized and formalized methods.
Formalized methods include methods of analysis, which are based on fairly strict analytical relationships between financial indicators. They constitute the second level of the classification and include:
Classical methods of analysis of economic activity and financial analysis: chain substitutions, arithmetic differences, balance sheet, isolation of the isolated influence of factors, differential, integral, simple and compound interest, discounting;
Mathematical and statistical methods for studying relationships: correlation analysis, regression analysis, analysis of variance, factor analysis, principal component analysis, covariance analysis, cluster analysis, etc.;
Non-formalized methods of financial analysis and assessment of the financial condition of an enterprise are based on the description of analytical procedures at the logical level, and not on strict analytical dependencies of the analyzed economic indicators. These include methods: expert assessments, psychological, morphological, building systems of financial indicators, analytical tables, etc. The use of these methods in economic analysis is characterized by a certain subjectivity, since the intuition, experience and knowledge of the analyst are of great importance.
Formalized methods include analysis methods based on strict analytical relationships between financial indicators. They constitute the second level of the classification and include:
Classical methods of analysis of economic activity and financial analysis: chain substitutions, balance sheet, isolation of the isolated influence of factors, percentage numbers, differential, logarithmic, integral, simple and compound interest, discounting;
Mathematical and statistical methods for studying relationships: correlation analysis, regression analysis, analysis of variance, factor analysis, principal component analysis, covariance analysis, cluster analysis;
Traditional methods of economic statistics: average and relative values, grouping, graphical research, index method, elementary methods of processing time series;
Econometric methods: matrix methods, harmonic analysis, spectral analysis, methods of the theory of production functions, methods of the theory of input-output balance;
Operations research and decision theory methods: graph theory methods, tree method, Bayesian analysis method, game theory, queuing theory, network planning and management methods.
Not all of these methods are directly applicable in the framework of financial analysis and financial assessment, but some of their elements are already used in practice. In particular, this applies to the methods of discounting, machine simulation, factor analysis, and processing of time series. The detailing of the procedural side of the methodology for analyzing the financial condition depends on the goals set, as well as on various factors of information, time, personnel and technical support.
Makarieva V.I. suggests that this structure additionally include spatial analysis - a comparative analysis of the consolidated financial indicators of financial statements by constituent elements, that is, the reporting indicators of subsidiaries, structural divisions, workshops and sites. On the contrary, O.V. Efimova together with M.V. Melnik, the predominant role is given to the balance method and other identical methods used in the modern practice of economic analysis.
Since financial analysis is associated with a logical process, its relative importance in making investment decisions varies depending on the circumstances prevailing in the market. Its value is always greater when the analysis is aimed at assessing risk, identifying "bottlenecks" and potential problems, which also takes into account the fact that the solution includes a very large set of factors, i.e. industry characteristics, management abilities and qualifications, economic conditions. Analytical review of financial statements data should reproduce all the main aspects of economic activity and transactions performed in a generalized form, that is, with the degree of aggregation necessary for analysis.
The main results of effective analysis and financial management are formed using special financial ratios. The practice of financial analysis has developed a methodology for analyzing financial statements. There are six main methods among them:
Vertical analysis - determining the structure of the final financial indicators and identifying the impact of each reporting position on the result as a whole;
Horizontal analysis - comparing each financial statement position with the previous period and determining dynamic changes;
Analysis of relative indicators - calculation of the relationship between the individual positions of the financial report and the definition of the relationship of indicators;
Trend analysis - comparing each reporting position with a number of previous periods and determining the trend, that is, the main trend in the dynamics of the indicator, cleared of random influences and individual characteristics of individual periods. With the help of the trend, predictive analysis is carried out;
Comparative analysis - intra-company analysis of the financial performance of structural units and inter-company analysis of the performance of a given enterprise with the financial performance of competitors;
Factor analysis - analysis of the influence of individual factors on the performance indicator using deterministic or stochastic methods.
The main tool for analyzing the financial condition is to determine the relative values of dynamics and structure:
Relative values of the dynamics - characterize the change in the process over time, show how many times the level of the indicator under study has increased or decreased compared to the previous period of time;
dynamics coefficient = P1 / P0 (2)
growth rate, % = P1 / P0 x 100% (3)
growth rate,% = (P1 / P0 x 100%) - 100% (4)
where P0 - the value of the absolute indicator in the base period;
P1-value of the absolute indicator in the reporting period;
Relative values of the structure - characterize the share of a separate part in the total volume of the population:
specific gravity,% = Pi / Pn x 100% (5)
where Pi - the value of a separate part of the population;
Пn - the whole set, that is, a single whole.
The vertical analysis is based on a different presentation of reporting - in the form of relative values characterizing the structure of generalizing indicators. An obligatory element of the analysis is the dynamic series of these values, which allows you to track and predict structural shifts in the composition of economic assets and sources of their coverage. Horizontal analysis allows you to identify trends in individual items or their groups that are part of the financial statements. This analysis is based on the calculation of the basic growth rates of balance sheet items or income statement items.
1. Liquidity analysis. The indicators of this group make it possible to describe and analyze the ability of an enterprise to meet its obligations. The algorithm for calculating these indicators is based on the idea of comparing current assets with short-term debt. As a result of the calculation, it is established whether the enterprise is sufficiently provided with working capital necessary for settlements with creditors for current operations. Since different types of working capital have different degrees of liquidity, several liquidity ratios are calculated.
The current liquidity ratio (Ktl) shows the payment capabilities of the enterprise, assessed subject to timely settlements with debtors and favorable sales of goods, but also the sale of other elements of tangible working capital. It characterizes the expected solvency for a period equal to the average duration of turnover.
The critical value of the lower limit is as follows: Ktl>= 2
The critical liquidity ratio (Kcl) reflects the predicted payment possibilities, subject to timely settlements with debtors. It characterizes the expected solvency for a period equal to the average duration of one turnover, receivables.
The estimate of the lower normal limit is as follows: Kcl not less than 1.
The absolute liquidity ratio, (Cal) is the most stringent criterion for the liquidity of an enterprise. Shows what part of short-term borrowings can be repaid immediately if necessary.
The normal limit of this indicator is as follows: Cal >= 0.2-0.3
3. Analysis of financial stability. With the help of these indicators (autonomy coefficients ( financial independence), financial stability, financial dependence, financing) the composition of funding sources is assessed, and the dynamics of the ratio between them, the analysis is based on the fact that the sources of funds differ in the level of cost, degree of availability, level of reliability, degree of risk, etc. To assess the dynamics of the capital structure, the following financial ratios:
The coefficient shows the proportion of the company's assets financed from its own sources of funds. The opposite of this indicator is the coefficient of financial dependence:
These coefficients, taken together, characterize the capital structure, as well as the claims of creditors regarding the property of the enterprise. Therefore, a decrease in the level of the first and, accordingly, an increase in the second coefficient indicates an increase in the financial risk of the organization. The permissible values of these coefficients in different areas of activity are ambiguous, which, first of all, depends on the ability of individual enterprises to generate a sufficient amount of funds to service creditors. A modification of the considered indicators is the coefficient of financial leverage:
It shows how much borrowed funds are attracted per ruble of the organization's own capital and is most often used to justify management decisions on optimizing the structure of sources of funds in order to obtain additional profit directed towards increasing equity capital.
To characterize the provision of assets with long-term sources of financing, the coefficient of financial stability is calculated:
The value of the coefficient should be sufficiently high, since the financial condition of the enterprise will be considered stable if investments in non-current assets and current assets belonging to the third class of liquidity are fully covered by long-term sources.
3. Analysis of current activities. From the perspective of the circulation of funds, the economic activity of any enterprise is a process of continuous transformation of one type of asset into another:
DS => SS => NP => GP => SR => DS, (9)
where DS - cash;
SS - raw materials in stock;
NP - work in progress;
GP - finished products;
SR - funds in the calculations.
The effectiveness of current activities can be assessed by the length of the operating cycle, depending on the turnover of funds in various types assets. Ceteris paribus, the acceleration of turnover indicates an increase in efficiency. Therefore, the main indicators of this group are indicators of the use of material, labor and financial resources: output, capital productivity, turnover ratios.
4. Analysis of the situation and activities in the capital market. As part of this analysis, spatial and temporal comparisons of indicators characterizing the position of an enterprise in the securities market are performed: dividend income, earnings per share, share value. This fragment of the analysis is carried out mainly in companies listed on stock exchanges and selling their shares there. Any company that has temporarily free cash and wants to invest it in securities is also guided by the indicators of this group.
Predicative models are models of a predictive, prognostic nature. They are used to predict the income of the enterprise, and its future financial condition. The most common of them are: calculation of the point of critical sales volume, construction of predictive financial reports, dynamic analysis models (rigidly determined factor models and regression models), situational analysis models. Break-even analysis relationships can be expressed by the formula:
VR = PZ + FZ + P, (16)
where BP is the volume of production or sales revenue;
PZ - total variable costs of the enterprise;
FZ - total fixed costs of the enterprise;
P - profit of the production activity of the enterprise.
The analysis of values at the critical point is based on the relationship "volume - costs - profit". The critical point is the point at which total sales revenue equals total costs.
5. Analysis of profitability. The indicators of this group are intended to assess the overall effectiveness of investing in a given enterprise. In contrast to the indicators of the second group, here they differ from specific types of assets, but analyze the return on capital of the enterprise as a whole. The main indicators, therefore, are the return on advanced capital and the return on equity.
Return on equity characterizes the extent to which equity increases due to profit remaining at the disposal of the enterprise after taxes and can be used to pay dividends and increase the organization's assets.
The return on assets reflects the efficiency of current activities related to the production and sale of products and the efficiency of the use of total assets, and the relationship can be represented in the formulas:
A change in the value of own working capital should correspond to an increase or decrease in the volume of production and sales of products.
normative models. Models of this type make it possible to compare the actual performance of enterprises with the expected ones calculated according to the budget. These models are mainly used in internal financial analysis. Their essence is reduced to the establishment of standards for each item of expenditure for technological processes, types of products, responsibility centers, and to the analysis of deviations of actual data from these standards. The analysis is largely based on the use of rigidly deterministic models.
Decision-making using the above methods, models, estimates is carried out as a result of the analysis of alternative solutions, taking into account the compromise between the requirements of liquidity, financial stability and profitability. An assessment of the financial condition of an enterprise covers a large number of interrelated issues and factors that ultimately determine the final results of the enterprise's economic activity in modern conditions of economic development. Financial analysis is the basis on which the development of a prospective financial policy of the enterprise is based.
The analysis of the financial condition is based on the indicators of the quarterly and annual financial statements, when it is still possible to change a number of balance sheet items, and is needed to draw up an explanatory note to the annual report. Based on the data of the final financial analysis, the development of almost all areas of organization of the enterprise's finances is carried out, and the effectiveness of management decisions depends on how well it is carried out. The quality of the assessment of the financial condition depends on the methodology used, the reliability of reporting data, as well as on the competence of the decision maker in the field of financial policy.
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Professional guys work in the company! I got into an accident, applied for an independent examination, since the insurance company was closed, the documents were needed for the PCA, Sergey immediately got his bearings, suggested what and how, Victor arrived the next day, photographed everything to the smallest detail, a week later the examination was ready, in two weeks it was received compensation in full and the costs of the assessment ... So if anyone needs it, feel free to contact! I recommend😉
Anatoly S.
I got into an accident, insurance experts came for inspection twice (external damage, then hidden), as a result, they paid an amount that was clearly not enough to restore the car, turned to the guys, everything was done at the highest level! Very quickly and, most importantly, I didn’t go anywhere myself, they examined the car in the service, they themselves compiled and sent a claim to the insurance! I just had to wait for the payment) I recommend! The guys work professionally, quickly, for VERY reasonable money!👍🏼👍🏼👍🏼
Sergei S.
Liked the company. Without puffing out cheeks, pathos and blah blah .. Everything is to the point. They work promptly. Prices within. No prepayments. Impressions are very positive.
Andrew Sh.
The guys are professionals with a capital letter, special thanks to Alexei. I sued Rosgosstrakh for about a year, and at the last meeting, thanks to professionalism and knowledge of our business, we won the trial. I will recommend to my family and friends. Thanks for the expert help.
Natalya M.
My car is over 10 years old. After the accident Insurance Company Paid under OSAGO less than half of the amount needed for repairs in the cheapest place. I had little hope that I would be able to get any more money from the insurance. The representative of the SC-assessment was very patient and professional in answering all my questions (possibly stupid ones). When inspecting the car, he immediately indicated that the insurance company did not appreciate it so much and what you can count on. The examination was done quickly, a day later the conclusion was in the insurance, and after another 10 days the money was transferred. The examination itself was cheaper than in other places (I found out). I am very pleased with how everything went. Without any show-off, but in all positions it turned out better than I expected. I recommend to everyone.
Dmitry M.
I got into an accident, the insurance company Ingosstrakh made a calculation for repairs 2 times lower than the actual cost of restoring repairs according to the PCA, the car service refused to repair without additional payment. I turned to SK-Otsenku, where they promptly (the next day) inspected the car, consulted, told the nuances of interaction with the insurance company. A couple of days later I received a report on an independent examination, all supporting documents, a claim to the insurance company. Again, the insurance company refused to pay. Alexey (many thanks) went with me to the insurance company and got the signing of an agreement on the payment of monetary compensation. After 7 days I received the full amount, including compensation for the examination. I recommend the company SK-Otsenka, because their employees really support your right to receive a fair insurance compensation.
The contact of the client with the car service, as a rule, begins with a telephone conversation. Car service employees introduce themselves to a potential client, politely answer all questions, slowly, without getting annoyed and not finishing the dialogue first. If the customer is only able to describe the external manifestations of problems in his car (knocking, leaking, not working, etc.), but does not know what to do, an engineer enters into the conversation. In most cases, it is difficult to determine the cause of the malfunction over the phone, so the car owner is invited to diagnose the car at a car service.
The visit time (several options) is offered by a car service worker - this is evidence of rhythmic work, normal loading of car service production, a clear acceptance schedule. This means that the customer will not have to wait in line, which is inevitable if they are allowed to arrive “at any time convenient for you.” In addition, sometimes such a wording is a sign of a car service downtime. Then the client is reminded of the address of the car service, they recommend the entrance scheme. In addition, they call the name of the master (receiver, consultant) who will “drive” the car, warn about the undesirability of being late, the approximate duration of acceptance, and advise to formulate wishes and prepare questions - this is another confirmation that the IP car service appreciates the time and the customer, and own.
The car service sign is visible from afar. Near the car service building there is a parking lot, signs for parking places and receiving orders. There is no queue and turmoil in the office; a car service employee, if the customer arrived a little earlier, notifies the master (receiver).
The solidity of the enterprise is confirmed by licenses posted in a conspicuous place, qualification certificates of car service workers, an order authorizing inspectors to sign documents on behalf of the company, information about the movement of cars through car service stations in accordance with the technological cycle of repair or maintenance.
Plaques with names and positions on the uniforms of employees make it easier for the customer to communicate with them. The cleanliness of the car service premises, equipment, overalls of mechanics, the seats and steering wheels covered with a protective film testify to the accuracy of the car service personnel. But the main thing is the friendly, calm, businesslike atmosphere that reigns in the car service.
The reception area of the car service is separated from the repair shop and equipped with diagnostic equipment so that the inspector does not interrupt the work of mechanics from other areas and does not wait together with the customer for the release of the lift or stand. In addition, it contains information about the services provided by the car service (prices, guarantees, names of regulatory documents according to which the work is performed, etc.). Acceptance (simultaneously and diagnostics of a malfunction) in a car service center is unhurried and takes at least 20 minutes. In fact, it is a dialogue between two people interested in high-quality cooperation. One highly qualified car service specialist communicates with the car owner. Indeed, in most cases, the client wants to do exactly what he asks, on time and not more expensive than they promised when accepting a car service. Therefore, the fewer people in contact with him, the better.
At the appointed time, the car service master invites the customer and explains the problem from his words, asking questions along the way. Then a small (about ten minutes) trip and a verdict on the essence of the client's concern. The car owner should not neglect to check the car on the go, even if there are no complaints about his behavior. The absence of comments from the owner of the car is not a fact that the car is in full working order, and additional consultation with a car service specialist will not hurt. Then the car is washed and lifted on a lift in the acceptance area of a car service. During this forced break, the car service inspector, in order not to lose time, begins to calculate the cost of the necessary work and spare parts at his workplace.
Having examined the car from below, the car service master finishes the calculation. The car service checks the car for free, regardless of whether the owner will repair it now and here or at another time and place. By the way, sometimes in order to eliminate a minor malfunction, you need to “disassemble half a car”. In this case, the car service specialist recommends combining work: to do something “ahead of time”, using the partial disassembly of the machine (unit), or, conversely, to wait until the scheduled maintenance - this reduces the time spent (paid standard hours), respectively, reducing the total cost repair. In addition, the customer can save money by bringing his own spare parts. But he must confirm their quality to a car service, that is, compliance with established technical requirements. The car service master necessarily warns about this, explaining what documents are needed: a check from a store that is trusted and known to the car service, a copy of the quality certificate for the oil batch, the number of which is on the package, the manufacturer's passport for the unit (for example, for a shock absorber with an identification number), etc. P.
After the diagnosis, the client, if he wants, is given a break to think about the situation, consult at another car service, correct his plans, or save up money for repairs.
If the client decides to repair the car in the IP car service, the car service master invites the customer to the stand, which reflects the current workload of mechanics, and agrees on the time for receiving the finished car. Then draws up an order-outfit in writing. It tries to use terms that are understandable to the client, the text is in Russian. In the work order, in addition to information about the car and the details of the parties, they must indicate: the services provided (work performed), spare parts and materials provided by the car service, their cost and quantity; spare parts and materials provided by the customer; the price of the car, determined by agreement of the parties; the cost of services rendered by a car service (work performed) and the procedure for their payment; deadlines for the performance of works by a car service; car service guarantee conditions for the results of work; features related to the specifics of the repair or the company's experience of communicating with customers, for example, additional payment for the storage of a finished car, the owner of which did not pay the car service on time for the work performed.
When the client leaves the car in a car service, the contractor, along with the contract, draws up an acceptance certificate indicating the completeness of the car, visible external damage and defects, information about the provision of spare parts and materials by the customer.
It is unacceptable for a car service to do additional paid work without the consent of the client or make the provision of some services dependent on the obligatory order of others. For short-term work (inflation of tires, selective maintenance operations, washing, etc.), which are done in the presence of a client in an IP car service, they issue receipts, coupons, etc.
Car service workers give the client the opportunity to observe the repair of the car, for example, from the waiting area in the workshop or from the gallery above it. When necessary (an additional malfunction was detected, the customer wanted to warn the car service master about the features of his car or check the progress and quality of work, etc.), the owner of the car is escorted to the work post. The mechanic is not distracted by getting spare parts and materials, and everything he needs is delivered on time from the warehouse.
In the IP car service, it is unacceptable for repairmen to sit in the “smoking room” for a long time, their walks around the workshop or the constant borrowing of tools from each other.
When the car is left at the car service, the customer can find out by phone how things are going. If at this moment the car service master is busy, he will definitely call back. In any case, the client is immediately notified of the shortcomings identified during the repair that threaten traffic safety, suspending work. If the car owner does not agree to their correction (for additional costs) or they are unremovable, this is recorded in all copies of the acceptance certificate.
When the finished car is handed over to the customer, the master who received the car brings the owner to it, shows the results of the work and the replaced parts. In addition, he gives recommendations on the operation of the car. After clarification of all questions, elimination of comments (if any), the car service inspector escorts the customer to the cashier - the car is issued after full payment for the work.
After two or three days, the master asks the client on the phone if he has any wishes or if the car has any problems.
The volume of the market for maintenance and repair services vehicles rightfully considered inexhaustible. Every year, the number of new cars issued by happy car owners is growing. The volume of the market should be added to the turnover of cars of the secondary segment, which needs a more serious service. Adjustment of the volume of services provided by car services occurs only at the time of disposal of vehicles for government programs and during the trade-in period.
📊 Market capacity dynamics
According to data published by the Avtostat agency, as of January 1, the number of cars registered by the State Security Inspectorate traffic approaching 45 million. This is not counting trucks who also need timely and high-quality service.
In the context of the existing car park, one tenth is represented by vehicles that are not used for their intended purpose. Approximately one-fifth of the vehicles are operated periodically, these are pensioners and other persons who are highly dependent on the budget for the maintenance of movable property. Three fourths - the prevailing part of the fleet is always on the go, it is this category that is expected in car services in 2019.
👥Market participants in 2019
The expected re-grading of the executors of the will of car owners for 2018 can be considered completed. Service clients are becoming more discriminating. Leaving after the end of the warranty in private enterprises can be considered a foregone conclusion, since the cost of spare parts and the repair itself at dealers leaves much to be desired. The volume of sales in official centers for 2019 is expected to reach 43 billion rubles against 49 and 46 billion in 2017 and 2018, respectively.
Leaving for alternative services does not affect the market capacity in any way, the displacement of volumes occurs to independent service stations and private garage zones. The choice of the consumer forces official dealers to reconsider their business policies. The prevailing part of the companies "wins back" losses by reducing staff, imputing additional services. An example of a smart customer-focused program is Mitsubishi's filing, which offers a tangible reduction in prices for spare parts and service. True, the general sales trend continues - for the whole of 2019, an increase has already been announced by all plants without exception.
💰Sales volumes by segments
Bye official dealers lose their customers, tired of inflated prices, car owners turn to the middle segment of the market - independent companies. The level of service, convenience and average bill quickly determine the choice of the owner, especially since at such service stations you can choose components, a list of works.
Despite the existing pressure in the industry, dealers continue to receive updated prices due to the latest increase in value added tax. In this regard, the average check in the middle and junior segments of the market continues to grow.
As long as the turbulence in the market sector continues, the potential of the market remains in the zone of inattention. Aggressive marketing, which consists in a guaranteed service, no longer helps, the consumer spends exactly as much on service as he considers necessary, often preferring a car exchange in the secondary market to an expensive service. The only hope of official and independent service stations is to provide a unique service associated with the need to perform high-precision work that requires highly qualified personnel and specialized equipment. And today 95 percent of all automotive industry products are equipped with specific electronics.
🥇Leaders in the car market in 2018 - car services target for 2019
In order to show high sales volumes, operators car repair it is necessary to understand the market and its structure. Following the new car sales data starts to activate and secondary market, which is used by the most popular and practical car brands.
The first place according to the results of sales in 2018 for KIA RIO - more than 100 thousand brand new cars left the gates of dealerships. This number included X Line assemblies, which won the hearts of domestic users with the image of a crossover. The figure is quite logical, especially since last year it was sold only a thousand cars less.
The second and third places remain with the popular for Russia brand Hyundai, are Creta and Solaris, respectively. In 2018, over 65,000 of both brands were sold, although in the last reporting period, skilled marketers managed to transfer the adherents of the Korean auto industry to the crossover platform.
The situation for 2019, according to analysts' forecasts, looks ambiguous. In an effort to transfer car owners from sedans to higher ground clearance, manufacturers are slightly carried away by prices. It is possible that in anticipation of consumers aimed at changing cars, there will be a boom in more budget segment. These are analogues of the once popular small cars Getz and Picanto.
The real potential for underestimation is seen behind the bottom line of the TOP-10 Renault Sandero.
📈Growth outlook for 2019
The car service market will continue to take on an impressive share of consumption this year. Service maintenance, repair and replacement of parts, refurbishment after traffic accidents, tuning and other popular services remain in the focus of attention of car owners. Combining the service with parking, car washes, tire fitting, a cafe and a children's area will certainly increase the attendance of the centers.
On the part of the consumer, the main thing in the range of services is the quality and optimal cost of services, combined with a minimum expectation. The behavior of car owners often results in the search for a faithful and reliable service station, regardless of belonging to a particular market segment. In the meantime, the quality of the manufacturer and service remains at the proper level, because some car models continue to be used for more than 20 years.