A fresh report on the importance of car dealerships for the economy of U.S is being published by the Business Wire. The highlighted view of the report is on the number of used and new dealerships that mount up to 45000 which could bring in annual revenue of a whooping $600 billion to the country.
The report includes that the sale of new cars is bring 50 % of the revenue where as the cars that are pre-owned would let out 30 % and the rest are the makeup of the accessories, parts, financial plans, insurance accounts and extended warranties.
The report has also established the names of the companies that generate more revenue to the nation. The reports quotes that the retail industry of cars is “fragmented” and the 50 companies that occupies the top position are said to produce revenue that is less than 15%. The list of the big cats that compete on the dollar customers are Penske Automotive Group, Sonic Automotive, AutoNation, CarMax, Hendrick Automotive Group.
The large networks of rental dealerships for car are to have potential returns that include a wider range of choices with the vehicle selection and advantage with the cost of purchasing, marketing and inventory that is to be financed. The top companies always have an eye on the dealerships quoted as “mom and pop” which include both private and the independent sellers.
The report also show cases the point that the capability of the small auto dealers to counterbalance the top companies which provide to superior services to its customers by accounting the condition on the area along with that in local markets.
The fact on the usage of Internet by private sellers to avoid cost on marketing is also a part of the report by Business Wire.