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Report: New-Car Dealership Employment and Wages Continue to Rise
TYSONS, Va. (Oct. 11, 2018) – Through the first half of 2018, the nation’s 16,794 franchised new-car dealerships employed more than 1.1 million people, up 0.8 percent compared to same period a year ago, according to a new report released today by the National Automobile Dealers Association.
“In addition to the direct employment provided by dealerships, more than 1 million other jobs in local communities are dependent on dealerships,” said Patrick Manzi, NADA senior economist.
NADA Data 2018: Midyear Report, a biannual financial profile of new-car dealerships (selling domestic, import, luxury and mass-market brands), includes an analysis of dealership departments as well as retail-auto industry milestones through the first half of 2018.
In 2017, the annual payroll at new-car dealerships was $65.3 billion, up 2.2 percent, according to the most recent data available from the Bureau of Labor Statistics.
“For the past several years, dealership employees have seen steady increases in their incomes as well as in their total compensation,” Manzi added. “Dealers jobs offer significantly higher compensation that other retail sectors, and dealerships continue to offer one of the highest average salaries of all industries.”
The average annual earnings for employees at new-car dealerships was $71,916 per year in 2017, up from $69,784, a 3.1 percent increase.
To download the full report, click here.