NADA Report: Flat profit for auto dealers for 2013

NADA 2014 Report
NADA 2014 Report

.   According to the National Automobile Dealers Association (NADA)’s report for 2013, even though auto sales increased during last year, the 17,665 dealers of new cars did not make profit, as there was tougher competition. Profitability stayed at 2.2%.   Pre-tax profit of dealerships is $923,248, which is 10% higher than the previous year. New car dealerships made total revenue of $730 billion, which is an increase of 8.8% from 2012.   In general, auto sales rose by 7.6% in 2013, which means 15.6 million vehicles sold.   Employment in the industry is improving, as now there are more than 1 million people working in the business. This is an improvement, especially since the recession in 2009. Back then employment felt dramatically, as several thousand dealerships were closed. Read the full article at Detroit News.