Industry Analysis & Industry Trends
While the recession hit new car dealers hard, the industry has since recovered in the five years to 2014. increased discretionary spending and elevated confidence have led consumers to once again pursue big-ticket items, such as new vehicles. In addition, interest rates have plummeted, making the cost for consumers to finance vehicles relatively more affordable. In the five years to 2019, revenue for the New Car Dealers Industry is forecast to grow. Continued gains in consumer confidence will drive the industry's recovery, and increased discretionary spending will support greater demand for cars, SUVs and light trucks. Moreover, new vehicle introductions will drive consumer traffic to car dealers, thus, aiding revenue growth... purchase to read more
Industry Report - Industry Locations Chapter
New car dealerships can be found in every state but are dispersed mostly according to population. The state with the highest number of new car dealerships is California, which also has the nation's largest population. Texas and New York, the second and third most-populated states, respectively, have the second- and third-largest number of new car dealerships. Industry revenue also has a strong correlation with population distribution. California accounts for the largest share of industry revenue at 8.7%. The remaining top five most-populated states (Texas, Florida, New York and Pennsylvania) generate 22.5% of industry revenue.
The proportion of new car dealerships in a particular state or region is also driven by personal incomes and vehicle preferences... purchase to read more