In its 2014 annual report published recently, the National Automobile Dealers Association (NADA) stated that the U.S. new car dealerships employed over 1 million people in 2013. The number goes back to employment levels before the recession began in 2008.
NADA economists predict that the industry will continue to grow in 2014. According to the report, passing the one million threshold also spells out a 3 % increase from 2012.
Some of the other statistics NADA presented include break down of the numbers. An average dealership employed 57 people in 2013, which is 2 more compared to 2012. The annual payroll per dealership was $3 million, an increase by 3 %, while the total for all locations reached $53.7 billion.
The predictions are that light-vehicle sales in 2014 will come to 16.4 million, up from 15.6 million in 2013.
Total dealership revenue amounted to $730 billion in 2013, which marked a 9 % increase.
Read the full story at TireBusiness.com.