Automobile Dealers Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 3/4/2024
SIC Codes: 5511, 5521
NAICS Codes: 4411
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Automobile Dealers Industry Profile

Companies in this industry engage in retail sales of new and used passenger cars, light trucks, SUVs, and passengers and cargo vans. Major companies include AutoNation, CarMax, Group 1 Automotive, Penske Automotive Group, and Sonic Automotive (all based in the US), as well as Inchcape plc (UK), Jardine Cycle & Carriage (Singapore), Pang Da Automobile Trade (China), and Porsche Holding Salzburg (Austria).

Worldwide automobile sales grew to around 67.2 million automobiles in 2022, up from around 66.7 million units in 2021, according to Statista. China is the largest automobile market based on sales with around 23.24 million units in 2022, while monthly car sales fell in April 2022 due to shortages, fears over a looming recession, and the country grappling with the COVID-19 pandemic.

The US automobile dealer industry includes about 50,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $1 trillion.


Consumer spending and interest rates drive demand for cars. The profitability of individual companies depends on the volume and mix of cars and services sold. Large companies can offer a wider selection of cars and have advantages in marketing, purchasing, and finance. Small companies can compete effectively by offering superior customer service or service a local market. The US industry is highly fragmented: the 50 largest firms generate about 20% of revenue.

For vehicle sales, auto dealers compete with private market sellers, who are ...

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