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New Car Dealers in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

New Car Dealers Market Research Report | NAICS 44111 | Aug 2014

Fast lane: Rising consumer confidence and new vehicle introductions will drive growth

IBISWorld’s New Car Dealers market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$592bn
Annual Growth 09-14
2.1%
Annual Growth 14-19
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Profit
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Employment
931,993
Businesses
18,420
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 Investment Chapter

New car dealerships require salespeople, technicians and office workers to operate. Labor costs have been volatile over the past five years. For example, wages are expected to account for about 7.7% of industry revenue in 2014, down from 8.2% in 2009. Wage declines in 2009 were largely due to layoffs and dealer closures brought on by the recession and General Motors' bankruptcy filing.

Industry depreciation costs are low. By classifying vehicles as short-term assets, new car dealers tend to avoid significant depreciation expenses. Service equipment and the physical dealership are the industry's primary long-term assets. The industry spends about $0.04 on capital for every dollar spent on labor... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the New Car Dealers Industry?

This industry sells new and used passenger vehicles. Vehicles include passenger cars, light trucks, sport utility vehicles (SUVs) and passenger vans. New car dealers also sell parts and provide repair services.

Industry Products
New vehiclesUsed vehiclesParts and repair servicesFinance and insurance
 
Industry Activities
Selling new carsSelling new light trucks Selling used carsSelling used light trucksProviding vehicle maintenance and repairs


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