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

Over the five years to 2017, 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. Over the five years to 2022, 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...read more.

Industry Statistics & Market Size
Revenue
$47bn
Annual Growth 12-17
4.5%
Forecast Growth 17-22
Profit
Employment
54,738
Businesses
1,207

Industry Threats & Opportunities

  • Rising consumer confidence and disposable income are expected to drive demand
  • New car dealers are collaborating with online outlets to increase traffic to their dealerships
  • Rising income and new vehicle introductions will drive consumer traffic to car dealers
  • Industry Report - Starting a New Business Chapter

    New Car Dealers in New York experience moderate barriers, including New York-specific regulations, manufacturer franchise agreements and start-up costs. Every state has different licensing requirements and regulations for new car dealers. In New York, prospective new car dealers must obtain an Official Business Certificate of Registration from a county clerk, a sales tax number and a copy of the Certificate of Authority issued by the New York State Department of Taxation and Finance. Additionally, prospective new car dealers must have proof of insurance that will cover all vehicles, franchise agreements with manufacturers of new vehicles, a surety bond, a statement of ownership and a photocopy of the driver license from the company owner. ...purchase to read more.

    Additional Insights for the New Car Dealers in New York Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the New Car Dealers in New York 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 York and Average age of vehicle fleet in the New Car Dealers in New York industry impact industry performance..

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    What's in this report

    What is the New Car Dealers in New York 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 York
  • Average age of vehicle fleet
  • Per Capita Disposable Income in New York
  • Regulation for the Automotive sector
  • Yield on 10-year Treasury note

  • Current Performance
  • Rising internal competition
  • All-new model
  • Vehicle platforms
  • Chart: Revenue Growth

  • Industry Outlook
  • Changes around the corner
  • New rides
  • New entrants despite acquisition activity
  • Table: New Car Dealers in New York Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - New Car Dealers in New York 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 York 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 York Industry

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

  • Basis of Competition
  • Internal
  • External

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the New Car Dealers in New York Industry

  • West Herr Automotive Group, Plaza Auto Mall, Lia Auto Group, AutoNation Inc.,
  • Table: West Herr Automotive Group - financial performance
  • Table: Plaza Auto Mall - financial performance
  • Table: Lia Auto Group - financial performance
  • Table: AutoNation Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the New Car Dealers in New York 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 York Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)

  • 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 York 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 York:
    • 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 York 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 York, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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