2015 Economic Impact of Franchised New Car Dealers

As Chairman of the Greater New York Automobile Dealers Association, a 105-year- old trade organization representing over 400 franchised new car dealers in metro New York, I am pleased to share with you the results of our latest research into auto dealerships and the local economy. LETTER FROM THE CHAIRMAN

The 2015 Economic Impact of Franchised New Car Dealers report highlights the enormous impact auto dealers have on jobs, tax revenues, and philanthropic endeavors, in communities across this region. In 2014, New York’s metro area franchised new car dealerships had an annual economic impact totaling over $39 billion. Dealers employ 37,200 full- and part-time employees with annual payroll of $2.5 billion. Automotive retailing is big business here in our area, and I am proud of the contributions my fellow dealers make in the overall health and well-being of our local and state economies. I am also proud of the immense work this Association does on behalf of its members and the communities in which they serve. Since 1910, the Greater NewYork Automobile Dealers Association has represented this complex industry and the needs of its members. Through its Center for Automotive Education & Training, the organization promotes ongoing learning among industry personnel and creates job opportunities for young people interested in pursuing careers in the automotive business. Each year, the Association is responsible for millions of dollars in student scholarships, stemming from its annual National Automotive Technology Competition, which promotes high school vocational education across the country. However, it may be that you’re most familiar with our Association because of an event we produce annually in Manhattan. The New York International Auto Show—America’s first and largest-attended auto show—is owned and operated by GNYADA. Like dealers, the Auto Show is also an important economic engine, producing over $300 million in local economic benefits in 2015. Representing this vast industry is both an honor and a pleasure. I hope you find the results in the following pages helpful and informative.

Franchised New Car Dealers

Respectfully yours,

Bob Vail, Chairman Greater New York Automobile Dealers Association

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