New Car Dealers in the US - Industry Market Research Report

Just like new: Limited supply of cars pushes prices higher, benefiting operators despite fewer cars sold

Operators in the New Car Dealers industry sell new and used passenger vehicles, provide repair and maintenance services and offer financing and insurance options. The industry is highly cyclical in nature and vulnerable to fluctuations in employment, consumer confidence and interest rates. In the past five years, industry revenue rose at a CAGR of 0.4% to $1.1 trillion, including a 2.8% drop in 2022. The COVID-19 pandemic caused slowdowns in factory production, leading to ongoing shortages for parts, computer chips and vehicles. The skyrocketing price of new vehicles led to a 16.4% spike in revenue in 2021, regardless of lower sales volume. Operators in the New Car Dealers industry sell new and used passenger vehicles. Vehicles include passenger cars, light trucks, sport utility vehicles (SUVs) and passenger vans. New car dealers also sell parts and provide repair services. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.