Dealerships: The Economic Impact for Greater New York
Bottom line: Dealers pump a lot of money into the local economy. Whether you are a buyer, seller or seeking a career in the automotive industry, the following statistics are something you should be familiar with. They were compiled by a 2006 economic impact study of dealerships in the Greater New York area:
- Dealerships generated $1.5 billion in tax revenue for the state and local government.
- Franchised new vehicle retailers employ (directly and indirectly) nearly 61,000 people in greater New York, with salaries totaling over $2.37 billion.
- The average dealership employs 75 people total.
- The average dealership pays nearly $3.7 million in yearly payroll expenses.
- Total new vehicle sales in the metro area exceeded $20.9 billion in 2006.
- The average area dealership services 18,300 vehicles a year.
- Dealers collectively sold nearly 445,000 new vehicles in 2006.