2015 Economic Impact of Franchised New Car Dealers

SUMMARY OF KEY INFORMATION

GNYADA members also accrued approximately $444 million in 2014 advertising expenses , in numerous media categories, including internet, newspaper, direct mail, television, radio, social media, and mandatory contributions to manufacturer ad programs. On the infrastructural front, dealers spent $480 million on capital improvements , expenditures on new dealerships and upgrades to existing facilities. This construction accounted for additional jobs with contractors in the New York Metro Area. Ultimately, franchised new car dealers directly and indirectly accounted for more than 65,000 jobs and $39,643,300,000 in economic activity spread throughout greater NewYork’s down state counties. These counties include; Manhattan, Brooklyn, Queens, Bronx, Staten Island, Nassau, Suffolk, Westchester, Rockland, Dutchess, Putnam, and Orange Counties.

The NewYorkMetropolitan Area’s franchised newcar dealers continued to be significant economic generators in 2014. Total new car sales increased for the fifth consecutive year. In 2014, sales were up 21.89% versus 2012, for a total amount of $33 billion . New York Metro new car dealerships accounted for 66.4% of all vehicle sales made by franchised new car dealers in New York State. With 37,200 full- and part-time employees and a payroll of $2.5 billion , franchised new car dealership accounts for roughly 7% of all retail employment in the metro New York area. In the two-year period from 2012 to 2014, direct employment among metro area dealerships grew by 7,480 jobs, an increase of 13%. 2014 payroll and employee benefits averaged more than $6 million per dealership. New car dealers also accounted for more than $2.1 billion in state payroll, and real estate tax revenues . This greatly helped to offset lingering joblessness in the region, caused by the recession. Collectively, New York Metro franchised new car dealers made $19.3 million in charitable contributions in their communities to local hospitals, organizations, schools, colleges and universities and many other causes.

Franchised New Car Dealers

Effective in June of 2014, GNYADA expanded its territory to include franchised new car dealerships in Dutchess, Putnam, and Orange Counties. Estimated economic impacts for 2014 include these three counties, while 2012 figures covered the nine county/borough area only (Bronx, Brooklyn, Manhattan, Nassau, Queens, Rockland, Staten Island, Suffolk, andWestchester).

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