Dealers Have Major Economic Impact in DC, MD & VA

Dealers Have Major Economic Impact in DC, MD & VA

If anyone asks, What difference do automobile dealers make to our economy? the response is emphatically: Plenty!

Although WANADA has commissioned economic impact studies of the Metropolitan Washington market in the past, NADA just released its state-by-state 2002 economic impact study of new vehicle franchise dealers, and the numbers for the District of Columbia, Maryland and Virginia are impressive:

A combined total of 926 dealerships (VA, 543; MD, 379; DC, 4) had total sales of more than $31 billion in 2002 (VA, $16.9 billion; MD, $14 billion; and DC, $229.5 million).

That represented 22.3% of total retail sales in MD, 20.2% in VA, and even 3.1% in DC.

These dealerships provided a total of nearly 57, 000 jobs (VA, 31,576; MD, 24,890; and DC, 381).

As a percent of state retail payroll, that comes to 10.8% for both MD and VA and 1.0% for DC.

The average annual payroll of these dealerships was $1.32 billion for VA, $1.09 billion for MD, and $16 million for DC.

The bottom line: Thatês a lot of economic clout! Results are enclosed with this WANADA Bulletin.