Speeding along: An aging vehicle fleet and rising disposable income drove industry growth in the state

Operators in the New Car Dealers industry in New Jersey sell new and used vehicles, including cars, light trucks, sport utility vehicles (SUVs) and passenger vans. Additionally, most industry operators provide repair and maintenance services, parts and accessories and leasing and financing options. Over the five years to 2018, the industry has experienced healthy growth, with revenue expected to increase at an annualized rate of 1.9% to $31.2 billion, including estimated growth of 2.1% in 2018 alone. This industry's growth is strongly tied to disposable income levels, consumer spending and the average age of the vehicle fleet.Over the past five years, per capita disposable income in New Jersey increased at an annualized rate of 2.2%...purchase to read more.

Industry Statistics & Market Size
Revenue
$31bn
Annual Growth 13-18
1.9%
Forecast Growth 18-23
Profit
Employment
34,889
Businesses
616

Industry Threats & Opportunities

  • This industry’s growth is strongly tied to disposable income levels, consumer spending and the average age of the vehicle fleet
  • Industry Report - Industry Investment Chapter

    ***This section is not used for US State reports***...purchase to read more.

    Additional Insights for the New Car Dealers in New Jersey Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the New Car Dealers in New Jersey Industry are

  • Provision of superior after sales service
  • Use of high volume/low margin strategy
  • Internet presence
  • IBISWorld analysts also discuss how external factors such as Consumer spending in New Jersey and Average age of vehicle fleet in the New Car Dealers in New Jersey industry impact industry performance..

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    What's in this report

    What is the New Car Dealers in New Jersey 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 vehicles
  • Used vehicles
  • Parts and repair services
  • Finance and insurance
  • Industry Activities
  • Selling new cars
  • Selling new light trucks
  • Selling used cars
  • Selling used light trucks
  • Providing vehicle maintenance and repairs
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Consumer spending in New Jersey
  • Average age of vehicle fleet
  • Yield on 10-year Treasury note
  • Per Capita Disposable Income in New Jersey
  • Regulation for the Automotive sector

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - New Car Dealers in New Jersey Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Automobile Wholesaling
  • Car & Automobile Manufacturing
  • SUV & Light Truck Manufacturing

  • Products & Services
  • New vehicles
  • Used vehicles
  • Parts and repair services
  • Finance and insurance
  • Chart: New Car Dealers in New Jersey Industry Products and Services Segmentation

  • Major Markets
  • Prime customers
  • Super prime customers
  • Nonprime customers
  • Subprime customers
  • Deep subprime customers
  • Chart: Major Market Segmentation for the New Car Dealers in New Jersey Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs New Car Dealers in New Jersey

  • Basis of Competition
    Barriers to Entry
    Penske Automotive Group Inc., Autoland, Global Auto Mall, Sansone Auto Group,
  • Table: Penske Automotive Group Inc. - financial performance
  • Table: Autoland - financial performance
  • Table: Global Auto Mall - financial performance
  • Table: Sansone Auto Group - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the New Car Dealers in New Jersey Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the New Car Dealers in New Jersey Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • NJ - Consumer spending in New Jersey (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Big Three
  • Industry term for the three largest domestic automakers: General Motors, Ford and Chrysler.
  • Floor Plan Financing
  • A type of financing used to fund purchases of vehicles intended for sale.
  • Light-Duty Vehicle
  • A passenger vehicle, sport utility vehicle or truck weighing less than 14,000 pounds.
  • Powertrain
  • A vehicle's engine and transmission combination.
  • Surety Bond
  • A three-party agreement in which the third-party, or surety, agrees to fulfill contractual obligations.
  • Term Asset-Backed Securities Loan Facility (Talf)
  • A Federal Reserve program that issues asset-backed securities collateralized by student loans, auto loans, credit card loans and loans guaranteed by the Small Business Administration.
  • What Our Customers Say

    Why buy this report?

    The New Car Dealers in New Jersey industry market report contains strategic analysis of the key drivers influencing the industry. Save hours of time on research and prospecting using IBISWorld’s standardized, up-to-date reports on thousands of industries. Our industry research provides growth and profit forecasts for a five-year outlook period, presented in a clear and user-friendly format.

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    This report on New Car Dealers in New Jersey:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The New Car Dealers in New Jersey market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on New Car Dealers in New Jersey, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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