Economic Impact
Dealers Driving Metro New York's Economy
The Greater New York Automobile Dealers Association’s members are a powerful economic influence and contribute significantly to the creation of high paying jobs throughout the metropolitan area.
Together, metro area dealers produced $67.6 billion in economic activity and supported more than 67,300 jobs with a total payroll of $6.3 billion. They collected and paid $2.89 billion in state and local taxes and made $19.8 million in charitable contributions in 2023 alone.
The chart below illustrates the 2023 dealership totals in comparison to 2022 and 2019, pre-pandemic.
Payroll
- The new vehicle retail industry in metro New York compensated both direct and indirect employees with nearly $6.3 billion in total pay.
- Employee compensation across dealerships has increased by 41% since 2018.
- In 2023, the average metro New York dealership paid out $9.4 million in employee salaries.
- The average salary per dealership employee reached $103,000 in 2023.
Employment
- In 2023, metro area new vehicle dealerships employed a total of 37, 200 individuals.
- An additional 30,100 individuals were employed as a result of the indirect impact of dealership operations.
- Automobile dealership employment accounted for 12.5% of total retail employment in the metro area.
- New car dealers are the 4th largest retail employer in the area just behind supermarkets, clothing stores, and pharmacies.
Tax Revenue
In 2023, franchised new auto dealerships in metro New York paid more than $2,887,519,000 in state and local taxes - an average of $6.43 million per dealership.
- State and Local Payroll Taxes: $289,605,000
- Real Estate Tax: $147,272,000
- State Sales Taxes: $2,388,680,000
Sales
- $78.1 billion generated in new vehicle sales and 762,700 new vehicles sold within New York State.
- Dealership sales grew by 10.7% and there was a 9.5% increase in units sold.
New York Metro Area New Retail Vehicle Registrations
As shown on the graph, combined new retail car and light truck registrations in the metro area were at or near 600,000 units between 2015 and 2019. Registrations declined 15.5% in 2020 due to the pandemic, and fell by more than 20% in 2023 as supply chain issues impacted vehicle production. The market increased 9.5% last year as vehicle inventories improved.
Download the Economic Impact Report
This report highlights the enormous value franchised new car dealers play in creating job opportunities, tax revenues, and philanthropic endeavors. More importantly, behind each of this report’s statistics are very real benefits and expanded opportunities in the daily lives of dealership personnel, the New Yorkers they serve, and communities they are located in.