Profits Grow 6.2% for Car Dealers in U.S.
The average pretax profit for car dealers in the U.S. climbed to $843,700 last year from $794,500 in 2011, according to the National Automobile Dealers Assn.
The trade group’s annual statistical report, NADA Data 2013, notes that the average new car sold for $30,900 in the U.S. last year, up $250 from 2011.
The number of franchised dealers in the country inched up 0.5% to 17,600 stores. Their average net worth rose 7% to $3 million.
NADA says gross sales per dealer jumped 9% to nearly $38.4 million. News cars accounted for 56% of the total, with used cars contributing about 31% and service and parts operations making up the balance.