Industry Analysis & Industry Trends
The past five years have been chaotic for the automotive sector. As new vehicle sales slowed, new car dealers increasingly looked to their parts and service departments for revenue. In the next five years, firms will continue to shift to parts-and-service-oriented business models to revive revenue. Additionally, the introduction of new European-based models that cater to consumer preferences of fuel efficiency will encourage drivers to trade in for new cars... 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