Auto dealers were able to keep their employees by paying higher salaries, and hired more women and young people in 2012 and 2013.
Those are the main points of the second annual 2013 Dealership Workforce Industry Report, released at the end of last year by the National Automobile Dealers Association (NADA).
More than 2, 240 car dealerships took part in the study.
“This is by far the most comprehensive and timely study on the dealership workforce ever produced, and serves as a tremendous resource to help dealers ‘step up their game’ to gain an edge on the competition,” a NADA official said.
The study indicated that due to boost in productivity, the average salary increased by 3.5%, with an even bigger bump at luxury franchises.
An interesting finding of the study is that dealership employees earn 27% more than the average weekly earnings of employees in the U.S. private sector. The highest paid positions are in the finance and insurance (F&I) department, as the annual income of managers there rose by 8.4% to $128,434.
Read the full story at TireBusiness.com.