NADA: Dealership pre-tax profit flat at 2.2%
For the fifth straight year, net pretax profit at dealerships as a percent of total sales was 2.2%, according to NADA Data 2015, the annual financial profile of new-car dealerships.
NADA Data spotlighted many milestones achieved by the retail auto industry last year:
« Franchised dealerships sold a record 17.3 million-plus new vehicles.
« The average selling price of a new vehicle was $33,419, up 2.5% from 2014.
« Average selling price of used vehicles sold was $19,397, up 2.9% from 2014.
« Average new vehicles sold per dealership was 1,050.
« Total number of new-car dealerships was 16,545, up 149 dealerships from 2014.
« New-car dealership employment reached 1.11 million, up from 1.06 million in 2014.
« Average number of employees per dealership was 67, up from 65 in 2014.
« Average dealership payroll was $3.8 million, up nearly 8% from 2014.
In each of the past three years, dealership employees have seen their incomes rise by more than 2% and total compensation increase by almost 6%. This increase has outpaced total compensation in other retail sectors, and dealers boast one of the highest average salaries of all industries.
For 2016, expect dealership employment to reach an all-time high, said NADA Chief Economist Steven Szakaly.Download Bulletin PDF