Key Car Dealer Statistics 2023 – MY Choice
- There was a $1,200 increase for the average retail price of a new vehicle in 2019, making the average cost $36,824.
- New vehicle sales reached over $1 trillion in 2019.
- In 2018, 28% of car buyers agreed that owning and leasing a vehicle is becoming too expensive.
- There has been a steady increase in buyers leaning toward used vehicles, and in 2019 64% of buyers considered purchasing used cars over new.
- Car dealerships saw a 0.9% increase from 2018 to 2019 in the number of used vehicles sold.
- Dealerships sold an average of 1,026 new vehicles in 2019.
- The average retail price for used vehicles sold averaged at $21,094.
- Ford F-Series was the best selling car model over the past two years reaching a total of 896,526 vehicles sold in 2019 and 909,330 vehicles sold in 2018.
- From May 2019 to May 2020, the average transaction price for industry vehicles increased by 4.3%.
- Industry vehicles have seen a slight decrease (0.6%) in transaction prices from April to May of 2020 due to COVID-19.
- 42% of consumers are somewhat or very likely to consider an alternative fuel vehicle for their next purchase.
Car Dealer Statistics
- The global automotive dealership market size was valued at $245.5 billion in 2019 and is expected to reach $291.7 billion by 2025, growing at a CAGR of 2.5% from 2020 to 2025.
- The number of new passenger car registrations in the United States increased from 17.5 million in 2015 to 17.9 million in 2019.
- In the United States, there are approximately 17,000 new car dealerships.
- The average number of new vehicles sold per dealership in the United States is roughly 550 per year.
- The average dealership generates approximately $50 million in revenue per year.
- The top three car manufacturers in the United States are Toyota, Ford, and Chevrolet, with Toyota holding a market share of 15.9%.
- The United States is the largest market for automotive dealerships, accounting for approximately 38% of the global market.
- In Europe, there are approximately 20,000 new car dealerships.
- The average number of new vehicles sold per dealership in Europe is approximately 300 per year.
- The average dealership in Europe generates approximately $30 million in revenue per year.
Table 1: Car Buying Process
| Statistic | Percentage/Average | Source |
|---|---|---|
| 41% of car buyers only visit one dealership | 41% | COX Automotive |
| 81% of buyers prefer in-person purchases | 81% | ThinkNow |
| 63% of consumers use smartphones to compare prices | 63% | AdColony |
| 53% of consumers use smartphones to research car models and specs | 53% | AdColony |
| 40% of consumers use smartphones to find dealership locations | 40% | AdColony |
| Average time spent in the market in 2019 | 96 days | COX Automotive |
| 7 out of 10 buyers are more likely to buy from a dealership if they can start the process online | 70% | COX Automotive |
| Average time spent at the dealership (2017-2019) | 2 hours and 52 minutes | COX Automotive |
| Average time saved if paperwork is handled online | 45 minutes | COX Automotive |
| 61% of buyers say dealership experience was the same or worse than previous visits | 61% | COX Automotive |
Table 2: Repairs at Car Dealerships
| Statistic | Number/Percentage | Source |
|---|---|---|
| Total number of repair orders in June 2020 | 125 million | NADA |
| Total number of customer orders | 5.27 million | NADA |
| Total number of claim related body shop repair orders | 1.17 million | NADA |
| Total number of internal repair orders | 3.07 million | NADA |
| Service and parts sales cost per new-vehicle dealership in June 2020 | $51.94 billion | NADA |
| Total number of repair orders in 2020 | 311.6 million | NADA |
| Percentage of dealerships with on-site body shops in 2020 | 37% | NADA |
| Percentage of service visits conducted at a dealership (2016) | 1 in 3 | COX Automotive |
| Percentage of car owners who went to local mechanics (2016) | 25% | COX Automotive |
| Percentage of consumers who do not keep track of vehicle service schedule (2016) | 32% | COX Automotive |
| Percentage of consumers who rely on dealership for notifications (2016) | 29% | COX Automotive |
Table 3: Auto Dealership Marketing
| Statistic | Percentage | Source |
|---|---|---|
| Percentage of consumers who have considered clicking on an auto ad | 61% | AdColony |
| Percentage of consumers who have clicked on an auto ad | 54% | AdColony |
| Percentage of consumers who are likely to click on an ad during car-buying process | 41% | AdColony |
| Percentage of consumers who would consider watching or engaging with a video during car-buying process | 70% | AdColony |
| Most used device during car-buying process | Smartphone (29%) | AdColony |
| Percentage of buyers who use a computer | 23% | AdColony |
| Percentage of buyers who use a tablet | 9% | AdColony |
| Percentage of buyers who use both devices | 39% | AdColony |
| Percentage of consumers who say easy access to a local dealer representative would make process easier | 46% | AdColony |
Car Dealer Facts
- Car dealerships play a significant role in the automotive industry, accounting for roughly 90% of all new car sales.
- Dealerships also provide a wide range of services, including maintenance, repair, and financing options.
- Many dealerships have embraced technology and now offer online sales, virtual tours, and other digital tools to improve the customer experience.
- The majority of car dealerships are franchised, meaning they are owned and operated by individuals who have entered into agreements with car manufacturers.
- Car dealerships are heavily regulated by state and federal governments, with strict rules regarding advertising, financing, and other aspects of the business.
Car Dealer Benefits
- Working at a car dealership can provide many benefits, including a stable career, opportunities for growth and advancement, and a supportive work environment.
- Dealerships are also an important source of tax revenue, providing significant financial benefits to local communities.
- Car dealerships provide consumers with a wide range of choices, including new and used vehicles from a variety of manufacturers.
- Dealerships also offer financing and leasing options, making it easier for consumers to purchase the vehicles they need.
- Dealerships can also provide valuable resources and support for car owners, including maintenance and repair services, parts, and accessories.
Car Dealer Trends
- The automotive industry is constantly evolving, with new trends and innovations emerging all the time.
- One of the biggest trends in the industry is the increasing use of technology, including online sales platforms, digital marketing, and mobile apps.
- The use of virtual reality and augmented reality technologies is also becoming more widespread, providing consumers with new and innovative ways to experience vehicles.
- The shift towards electric and hybrid vehicles is another major trend, as consumers become increasingly conscious of the environmental impact of their transportation choices.
Overview of the Aviation Authoring Industry
- The global aviation industry is valued at over $700 billion and is expected to grow at a compound annual growth rate (CAGR) of 3% over the next decade.
- The aviation authoring market is a critical subsector of the aviation industry, as it is responsible for creating, maintaining, and updating the technical documentation and manuals that are essential for the safe and efficient operation of aircraft and airport infrastructure.
Key Trends in Aviation Authoring
- With the rapid advancement of technology, there has been a growing trend towards digitization and automation in aviation authoring, which is expected to continue over the coming years.
- The increasing demand for real-time access to critical information, such as aircraft maintenance manuals, is driving the development of new software tools and systems for aviation authoring.
- The use of artificial intelligence (AI) and machine learning (ML) is expected to become increasingly common in aviation authoring, helping to improve efficiency and accuracy while reducing the risk of errors.
Importance of Aviation Authoring
- Accurate and up-to-date technical manuals and documentation are essential for the safe and efficient operation of aircraft and airport infrastructure.
- Aviation authoring plays a critical role in ensuring compliance with regulatory requirements, as well as ensuring that all stakeholders, including pilots, maintenance crews, and air traffic controllers, have access to the information they need to perform their jobs effectively.
The Benefits of Investing in Aviation Authoring
- By investing in aviation authoring, airlines, airports, and other stakeholders can reduce the risk of operational errors and improve safety and efficiency.
- Automated and digital aviation authoring systems can help organizations to streamline their processes, reduce the risk of errors, and improve collaboration between different departments and stakeholders.
- The use of AI and ML in aviation authoring can help organizations to better understand their data and make informed decisions, which can help to drive operational improvements and cost savings.
Key Challenges in Aviation Authoring
- Despite the many benefits of aviation authoring, there are also a number of challenges that organizations must overcome in order to achieve success.
- One of the key challenges is the need to keep up with the rapidly changing technologies and regulatory requirements that are driving the evolution of the aviation industry.
- Another challenge is the need to balance the need for accuracy and completeness in aviation authoring with the need for speed and efficiency, in order to meet the demands of the fast-paced aviation industry.
Strategies for Overcoming the Challenges of Aviation Authoring
- Organizations must stay abreast of the latest trends and best practices in aviation authoring, in order to ensure that they are well-positioned to address the challenges that they face.
- They must also prioritize collaboration and communication between different departments and stakeholders, in order to ensure that everyone is working towards the same goals and that there is a shared understanding of the priorities and objectives.
