1、2022ANNUAL FINANCIAL PROFILE OF AMERICAS FRANCHISED NEW-CAR DEALERSHIPSNATIONALAUTOMOBILEDEALERSASSOCIATIONOverviewCONTENTSNew Light-Vehicle Dealerships .2Dealership Financial Trends .4New Light-Vehicle Department .7Used-Vehicle Department .10Service and Parts Department .11Body Shop Department .14D

2、ealership Advertising .15Employment and Payroll .17New-and Used-Vehicle Consumer .20The NADA Data financial profile of new-car dealerships is now published twice a yearas a full annual review at year-end and as a midyear update.This 2022 full-year review features the many major milestones achieved b

3、y the retail auto industry during the first half of 2022,including such highlights as:The nations 16,773 franchised light-vehicle dealers sold 13.7 million light-duty vehicles.Total light-vehicle dealership sales topped$1.2 trillion.Dealerships wrote more than 265 million repair orders,with service

4、and parts sales totalingmore than$137 billion.The 13.7 million new light-vehicles sold represented a decline of 8%compared with 2021 and the lowest full-year sales total since 2012.Despite the low volume,the average franchised dealership had a strong year.Sales for the average dealership totaled$71.

5、8 million,an increase of 1.2%compared with 2021.New light-vehicle inventory was the big story for the industry in 2022.At the beginning of the year,new light-vehicle inventorywhich was near a historic low of 1.1 million unitsremained constrained through much of 2022.But the OEMs were able to increas

6、e production in the second half of the year and end 2022 with 1.7 million new light vehicles on the ground and in transit.The microchip shortage will still impact vehicle production in 2023,but not nearly as much as in 2021 and 2022.We expect inventory to continue building slowly throughout 2023 and

7、 reach nearly 2.2 million units by year-end.The shift to electric vehicles also has been a big focus,and 2022 was the best year yet for sales of battery electric vehicles(BEVs).Sales of new BEVs reached nearly 739,000 units in 2022,up 61%compared with 2021.Franchised dealers also captured a larger s

8、hare of the BEV pie in 2022,with their BEV sales totaling almost 260,000 unitsthe best BEV sales year to date for their dealerships.At the end of 2022,franchised dealerships captured 35%of the new BEV market,and we expect this to continue as more BEV models are released by the legacy OEMs in the com

9、ing years.To improve the breadth of information provided in NADA Data,we offer a section focusing on the new-and used-vehicle consumer,with in-depth data from Experian.These stats include average monthly payment,average loan term,percentage of vehicles leased and more.Note:NADA Data was first publis

10、hed in 1979,and some of the methodology and data sources have naturally changed along the way.Therefore,previous reports may not be directly comparable with the current version.Patrick Manzi Chief Economist,NADANADA DATA 2022|nada.orgNew Light-Vehicle DealershipsAlabama277Alaska27Arizona248Arkansas2

11、11California1,303Colorado253Connecticut251Delaware54Florida906Georgia487Hawaii68Idaho102Illinois700Indiana399Iowa269Kansas205Kentucky232Louisiana282Maine110Maryland307Massachusetts386Michigan616Minnesota336Mississippi177Missouri370Montana93New Light-Vehicle Dealerships by State,2022 Nebraska156Nevad

12、a100New Hampshire131New Jersey455New Mexico112New York858North Carolina573North Dakota72Ohio717Oklahoma252Oregon219Pennsylvania862Rhode Island52South Carolina255South Dakota83Tennessee343Texas1,239Utah141Vermont77Virginia455Washington308West Virginia132Wisconsin465Wyoming47Total U.S.16,773Source:NAD

13、ANADA DATA 2022|nada.org 2 16,773TOTAL NEW-CAR DEALERSHIPSALASKALowest number of new light-vehicle dealerships271,303CALIFORNIAHighest number ofnew light-vehicle dealershipsNADA DATA 2022|nada.org 3 New Light-Vehicle Dealerships(continued)Share of Owners by Number of Dealerships Operated,by YearNumb

14、er of dealerships20000221-595.5%95.0%94.8%94.4%94.2%93.9%93.8%93.5%93.0%92.4%6-103.2%3.4%3.5%3.8%4.0%4.1%4.2%4.3%4.5%4.9%11-251.1%1.4%1.5%1.5%1.6%1.6%1.7%1.7%2.0%2.2%26-500.1%0.1%0.1%0.1%0.1%0.2%0.3%0.3%0.3%0.4%Greater than 500.1%0.1%0.1%0.1%0.1%0.1%0.1%0.1%0.2%0.2%S

15、ource:NADAShare of Dealerships by Volume of New-Unit Sales,2022Percent of dealerships18.1%18.4%1,500+750-1,-499150-2991-14916.7%15.5%20.9%10.4%0%5%10%15%20%25%Source:NADANADA DATA 2022|nada.org 4 Dealership Financial TrendsStateAll dealerships ($millions)Average per dealership ($thousan

16、ds)Alabama$16,128$58,224 Alaska$2,042$75,623 Arizona$29,090$117,296 Arkansas$8,582$40,674 California$142,596$109,437 Colorado$21,184$83,730 Connecticut$11,954$47,627 Delaware$3,665$67,865 Florida$105,293$116,217 Georgia$36,902$75,774 Hawaii$5,928$87,180 Idaho$5,713$56,007 Illinois$41,216$58,880 Indi

17、ana$19,373$48,554 Iowa$9,865$36,674 Kansas$7,846$38,272 Kentucky$11,281$48,626 Louisiana$16,471$58,408 Maine$5,305$48,223 Maryland$22,048$71,817 Massachusetts$24,541$63,577 Michigan$43,044$69,876 Minnesota$17,390$51,757 Mississippi$8,175$46,185 Missouri$22,484$60,767 Montana$4,818$51,805 StateAll de

18、alerships ($millions)Average per dealership ($thousands)Nebraska$6,419$41,146 Nevada$10,925$109,245 New Hampshire$7,965$60,799 New Jersey$39,478$86,766 New Mexico$6,305$56,292 New York$68,225$79,516 North Carolina$34,283$59,830 North Dakota$2,807$38,981 Ohio$41,863$58,387 Oklahoma$33,880$134,443 Ore

19、gon$13,426$61,308 Pennsylvania$46,313$53,727 Rhode Island$3,776$72,618 South Carolina$17,169$67,331 South Dakota$2,951$35,551 Tennessee$20,877$60,867 Texas$115,598$93,300 Utah$11,870$84,183 Vermont$3,149$40,891 Virginia$26,954$59,239 Washington$22,430$72,826 West Virginia$6,607$50,054 Wisconsin$17,3

20、88$37,393 Wyoming$1,773$37,723 Total U.S.$1,205,363$71,863 Total Sales by State,2022Source:NADANADA DATA 2022|nada.org 5 2022Service and parts12.0%New vehicles49.7%Used vehicles 38.3%2021Service and parts11.1%New vehicles52.2%Used vehicles 36.7%Share of Total Dealership Sales DollarsSource:NADADeale

21、rship Financial Trends(continued)8509501,0501,150$1,250All dealerships(left scale)in billions of dollarsAverage per dealership(right scale)in millions of dollars505560657075$80$980.25$1,002.62$995.64$938.49$1,026.82$1,025.80$58.97$59.59$56.72$61.55$61.23$59.67$71.02$1,184.3920222021820172

22、0162015$1,205.36$71.86Total Sales of New-Vehicle Dealerships,by YearSource:NADANADA DATA 2022|nada.org 6 Dealership Financial Trends(continued)10.0%data not available1.91.111.80.90.50.40.21.00.20.52.40.59.60.70.71.40.71.33.11.42.82.20.50.91.71.90.83.41.41.41.63.53.85.71.83.32.00.40.70.31.00.30.50.30

23、.2HI8.71.83.62.80.1In percent of total registrations New-Vehicle Registrations by State,2022Source:S&P GlobalNADA DATA 2022|nada.org 7 New Light-Vehicle DepartmentNew-Vehicle Inventories and Days Supply,by YearInventory(in millions)Days supply Total3.923.793.583.551.922.061.912.091.871.851.681.841.7

24、0707472766753DomesticDomesticImportImport0.00.51.01.52.02.53.03.54.01.862.753.912.090.661.12470.920.205456545052222620222020151.410.261.672025303540455055606570758020222020152738Average Number of New Vehicles Sold Per Dealership and Selling Price,by YearYe

25、arNew vehicles sold Average retail selling price20151,051$33,456 20161,045$34,449 20171,020$34,670 20181,028$35,608 20191,026$36,824 2020870$38,961 2021895$42,379 2022819$46,287 Source:Wards Intelligence,Automotive News Data CenterNEW-VEHICLE DAYS SUPPLY38 27domesticimportNEW-CAR INVENTORY1,411,609d

26、omestic261,077import1,672,686Source:Wards Intelligence,NADANADA DATA 2022|nada.org 8 New Light-Vehicle Department(continued)New Light-Duty Vehicle Sales,by YearYearNew carsLight-duty trucksTotal light-duty vehiclesLight-duty trucks as%of total20116,089,3006,644,90012,734,20052.2%20127,242,8007,199,0

27、0014,441,80049.8%20137,582,5007,942,30015,524,80051.2%20147,688,9008,748,10016,437,00053.2%20157,525,0239,861,02417,386,04756.7%20166,873,15810,591,86217,465,02060.6%20176,079,58411,055,14917,134,73364.5%20185,304,34711,910,81617,215,16369.2%20194,790,84612,317,31017,108,15672.0%20203,408,77811,055,

28、15714,463,93576.4%20213,339,47611,587,45714,926,93377.6%20222,852,01210,882,19113,734,20379.2%13,734,2032,852,012NEW-CAR SALESTOTAL LIGHT-DUTY VEHICLE SALES10,882,191NEW LIGHT-DUTYTRUCK SALESSource:Wards Intelligence,Automotive News Data CenterAverage Dealership New-Vehicle Retail Sales per New-Vehi

29、cle Salesperson,by YearSource:NADA5202020003104102NADA DATA 2022|nada.org 9 New Light-Vehicle Department(continued)Source:Wards IntelligenceYTD market shareYTD market share change2.6%13.1%16.4%7.2%10.7%2.1%2.5%5.3%11.2%4.1%15.4%4.0%5.4%Market Sh

30、are by Manufacturer,June YTDBMWFordGeneral MotorsHondaHyundaiMazdaNissanStellantisSubaruToyotaVWOther*Mercedes-Benz*Includes Jaguar/Land Rover,Lucid,Mitsubishi,Rivian,Tesla and Volvo0.2%0.9%1.7%2.7%0.8%0.1%0.3%1.2%0.6%0.1%0.3%0.3%1.1%NADA DATA 2022|nada.org 10 Used-Vehicle DepartmentTotal Used-Vehic

31、le Sales by New-Vehicle Dealerships,by YearIn millions0369121514.414.913.714.720222021812.9Average Retail Selling Price of Used Vehicles Sold by New-Vehicle Dealerships,by YearIn thousands$19,400$19,886$20,009$20,586$22,027$21,094$26,709830$322022202015$30

32、,7364.2%13.5%Trade-in onused vehicleOtherStreetpurchaseTrade-in onnew vehicle41.1%17.0%Auctionpurchase24.3%Sources of Used Vehicles Retailed by New-Vehicle Dealerships,2022Source:NADASource:NADASource:NADAAverage Dealership Used-Vehicle Retail Sales per Used-Vehicle Salesperson,by Year20222021202020

33、028146137Source:NADANADA DATA 2022|nada.org 11 Service and Parts DepartmentService labor sales(in billions of dollars)OtherInternalSubletWarrantyCustomer bodyCustomermechanical071421$28$26.21$5.43$10.13$4.36$9.58$4.09Dealerships Total Service and Parts Sal

34、es,2022Parts sales(in billions of dollars)OtherInternalWarrantyCounterWholesaleCustomer bodyCustomer mechanical05101520$25$22.48$8.27$11.98$4.28$23.08$4.14$7.54Dealerships Total Service andParts Sales,2022(in billions of dollars)Service labor salesCustomer mechanical$26.21 Customer body$4.09 Warrant

35、y$9.58 Sublet$4.36 Internal$10.13 Other$5.43 Total service labor$59.79 Parts salesCustomer mechanical$22.48 Customer body$4.14 Wholesale$23.08 Counter$4.28 Warranty$11.98 Internal$7.54 Other$8.27 Total parts$81.78 Source:NADASource:NADASource:NADA$8.2 millionSERVICE AND PARTS SALES(per new-vehicle d

36、ealership)257,534TECHNICIANS(including body shop)265.8 millionREPAIR ORDERSWRITTENNADA DATA 2022|nada.org 12 Service and Parts Department(continued)Profile of Dealerships Service and Parts Operations,2022Average dealership All dealersTotal service and parts sales$8,197,000$137,488,280,836 Total numb

37、er of repair orders written15,848265,826,272Total service and parts sales per customer repair order$432Total service and parts sales per warranty repair order$440Parts sales per service labor sale$1.61Number of technicians(including body shop)15257,534Total parts inventory$513,917$8,619,933,342 Aver

38、age customer mechanical labor rate$152 Source:NADA80$140In billions of dollars12511095$100.02$109.52$116.49$114.15$120.73$111.22$125.572022202015$137.49Dealerships Total Service and Parts Sales by YearSource:NADA$137.49 billionSERVICE AND PARTS SALES(for all new-vehicle dealers

39、hips)NADA DATA 2022|nada.org 13 Service and Parts Department(continued)Repair orders(in millions)050100150ExpressserviceInternalWarranty claimServicecontractCustomermechanical112.6513.5148.7045.3138.58RO Counts for All Dealerships,2022Source:NADAShare of New Light-Vehicle Dealerships with Express Se

40、rvice Operations,by YearPercent with Express Service2022015304560%20201542.3%43.3%50.1%49.8%50.4%51.7%51.9%51.9%Source:NADANADA DATA 2022|nada.org 14 Body Shop DepartmentDealerships Operating On-Site Body Shops,by Year3040%35Percent of total dealership population37.7%38.6%37.4%

41、38.3%39.2%37.3%35.7%202220201534.9%Source:NADABody Shop Sales per Repair Order,by YearIn dollars$741.78$717.02$715.92$725.14$730.46$719.64$793.022022202015$929.93700800900$1,000Source:NADARepair orders(in millions)0123456InternalClaimCustomer4.212.130.92Bo

42、dy Shop Repair Order Counts for All Dealerships,2022Source:NADATotal Dealership Body Shop Sales,by Year01$3In billions of dollars2$2.64$2.64$2.61$2.39$2.62$2.28$2.09$2.372022202015Source:NADANADA DATA 2022|nada.org 15 Dealership AdvertisingTotal Dealership Advertising Expenditu

43、res,by YearIn billions of dollars6789$10$9.18$9.82$9.74$9.42$9.25$7.48$8.020200162015$8.57Average Dealership Advertising per New Unit Sold,by Year550$750In dollars$640$633$606$629$624600650700$582$602 2022202015$718 Source:NADASource:NADANADA DATA 2022|nad

44、a.org 16 Dealership Advertising(continued)Estimated Advertising Expenditures by Medium,2022Source:NADABy media usedAverage of all dealershipsNewspapers$14,391 Radio$39,730 Television$52,229 Direct mail$33,144 Internet$348,493 Other$23,072 Total$511,059 Total advertising as%of total sales0.7%Source:N

45、ADAEstimated Advertising Expenses per Dealership,2022$8.57 billionTOTAL DEALERSHIP ADVERTISING EXPENDITURESRadioOtherDirect mail10.2%68.2%Internet4.5%7.8%Newspaper2.8%6.5%TVNADA DATA 2022|nada.org 17 Employment and PayrollNumber of Dealership Employees by State,20221,069,633DEALERSHIP EMPLOYEESState

46、Total number,all dealers Average number per dealership Alabama15,00454Alaska1,77866Arizona23,89196Arkansas9,26044California108,79183Colorado18,39673Connecticut12,53350Delaware3,70869Florida83,71692Georgia33,87470Hawaii3,99559Idaho6,39063Illinois41,78860Indiana22,08355Iowa12,15645Kansas9,37146Kentuck

47、y12,64655Louisiana15,43255Maine5,42449Maryland21,74271Massachusetts20,92454Michigan34,41656Minnesota19,08357Mississippi8,31747Missouri21,58458Montana3,91442Nebraska7,29647Nevada9,24492New Hampshire6,31948New Jersey30,08266New Mexico6,31456New York48,23456StateTotal number,all dealers Average number

48、per dealership North Carolina35,21861North Dakota3,77652Ohio41,15557Oklahoma13,30853Oregon13,01159Pennsylvania46,11153Rhode Island3,20362South Carolina15,82362South Dakota4,18350Tennessee21,68863Texas98,93980Utah10,77476Vermont2,87937Virginia30,15566Washington21,11869West Virginia6,06646Wisconsin22,

49、75149Wyoming1,99342Total U.S.1,069,6336464Average per dealershipSource:Bureau of Labor Statistics,NADANADA DATA 2022|nada.org 18 Dealership Employment by Position,2022Employment and Payroll(continued)Estimated Number of Dealership Employees,by YearNew-and used-carsalespeople18.5%Other service andpar

50、ts employees22.9%Supervisors and others34.7%Technicians23.9%Total of all dealerships(left scale)in thousands Average number per dealership(right scale)9001,0001,1001,200506070801,085.21,129.71,117.91,132.641,133.81,045.31,058.5632022202015641,069.6Average Weekly Earn

51、ings of New Light-Vehicle Dealership Employees by State,2022Alabama$1,621 Alaska$1,464 Arizona$1,778 Arkansas$1,533 California$2,007 Colorado$1,737 Connecticut$1,694 Delaware$1,577 Florida$1,896 Georgia$1,820 Hawaii$1,677 Idaho$1,540 Illinois$1,575 Indiana$1,505 Iowa$1,462 Kansas$1,420 Kentucky$1,51

52、4 Louisiana$1,555 Maine$1,515 Maryland$1,701 Massachusetts$1,896 Michigan$1,630 Minnesota$1,401 Mississippi$1,416 Missouri$1,475 Montana$1,420 Nebraska$1,417 Nevada$1,982 New Hampshire$2,016 New Jersey$2,016 New Mexico$1,520 New York$1,801 North Carolina$1,611 North Dakota$1,336 Ohio$1,575 Oklahoma$

53、1,507 Oregon$1,688 Pennsylvania$1,471 Rhode Island$1,552 South Carolina$1,631 South Dakota$1,367 Tennessee$1,727 Texas$1,855 Utah$1,595 Vermont$1,537 Virginia$1,595 Washington$1,729 West Virginia$1,316 Wisconsin$1,290 Wyoming$1,327 Total U.S.$1,708 Source:Bureau of Labor Statistics,NADASource:Bureau

54、 of Labor Statistics,NADASource:NADA*We are aware that there are differences in methodologies used to calculate wages and earnings both across federal agencies and in our published reports.These differing methodologies will lead to some discrepancies in the wages and earnings reported here and in ot

55、her publications.It is not the result of errors.NADA DATA 2022|nada.org 19 Employment and Payroll(continued)StateTotal all dealers(billions)Average per dealership(millions)Alabama$1.26$4.57Alaska$0.14$5.01Arizona$2.21$8.91Arkansas$0.74$3.50California$11.35$8.71Colorado$1.66$6.57Connecticut$1.10$4.40

56、Delaware$0.30$5.63Florida$8.25$9.11Georgia$3.21$6.58Hawaii$0.35$5.12Idaho$0.51$5.02Illinois$3.42$4.89StateTotal all dealers(billions)Average per dealership(millions)Indiana$1.73$4.33Iowa$0.92$3.44Kansas$0.69$3.38Kentucky$1.00$4.29Louisiana$1.25$4.43Maine$0.43$3.88Maryland$1.92$6.27Massachusetts$2.06

57、$5.35Michigan$2.92$4.74Minnesota$1.39$4.14Mississippi$0.61$3.46Missouri$1.66$4.48Montana$0.29$3.11Annual Payroll of New-Vehicle Dealerships by State,2022Annual Payroll of New-Vehicle Dealerships,by YearTotal of all dealerships(left scale)in billions of dollarsAverage per dealership(right scale)in mi

58、llions of dollars55657585$95$64.86$61.84$65.28$66.54$68.80$4.12$3.88$3.74$3.89$3.97$68.14$4.99$4.10$83.202022202015$94.993.54.55.5$6.5$5.66StateTotal all dealers(billions)Average per dealership(millions)Nebraska$0.54$3.45Nevada$0.95$9.53New Hampshire$0.66$5.06New Jersey$3.15$6.

59、93New Mexico$0.50$4.45New York$4.52$5.27North Carolina$2.95$5.15North Dakota$0.26$3.64Ohio$3.37$4.70Oklahoma$1.04$4.14Oregon$1.14$5.21Pennsylvania$3.53$4.09Rhode Island$0.26$4.97South Carolina$1.34$5.26South Dakota$0.30$3.58Tennessee$1.95$5.68Texas$9.54$7.70Utah$0.89$6.34Vermont$0.23$2.99Virginia$2.

60、50$5.50Washington$1.90$6.16West Virginia$0.42$3.15Wisconsin$1.53$3.28Wyoming$0.14$2.93Total U.S.$94.99$5.66Source:Bureau of Labor Statistics,NADAU.S.Bureau of Labor Statistics,NADANADA DATA 2022|nada.org 20 New-and Used-Vehicle Consumer05,00010,00015,00020,00025,00030,00035,00040,000$45,000Q4 2022Q4

61、 2021 New Used$39,834$27,390$41,445$27,768Average Amount FinancedPercentage of Vehicles LeasedQ4 2022Q4 2021 New Used035%24.0%11.2%11.1%17.2%Credit Score RangeCategoryScore rangeSuperprime781-850Prime661-780Near prime601-660Subprime501-600Deep subprime300-500Market Share of New-Vehicle Fi

62、nancing by Lender TypeSource for all charts on this page:Experian Automotive.For more information,visit 202213.7%Credit Union51.6%Captive29.7%BankQ4 20210.8%BHPH/Other4.1%Finance48.4%Captive23.7%Bank2.4%BHPH/Other5.2%Finance20.3%Credit UnionNADA DATA 2022|nada.org 21 New-and Used-Vehicle Consumer(co

63、ntinued)Average Loan Term in Months606264666870Q4 2022Q4 2021UsedNew72 Q4 2021 Q4 2022 69.669.467.468.0UsedNew0200400600800 Q4 2021 Q4 2022$646$490$716$526$36$70Average Monthly Loan PaymentSource for all charts on this page:Experian Automotive.For more information,visit 20228.5%1-48 mos.1.5%85+mos.1

64、8.0%49-60 mos.38.5%61-72 mos.33.6%73-84 mos.Q4 202110.9%1-48 mos.1.6%85+mos.16.9%49-60 mos.38.1%61-72 mos.32.5%73-84 mos.Share of New-Vehicle Loans by Term Length,in MonthsNADA DATA 2022|nada.org 22 New-and Used-Vehicle Consumer(continued)Average Interest Rate on Vehicle FinancingSource for all charts on this page:Experian Automotive.For more information,visit 2022Q4 2021 New Used3.9%6.1%8.2%10.3%024681012New-Vehicle Loans by Risk SegmentSubprime0.2%Deep subprimeSubprime0.3%Deep subprime20222021 51.5%Prime 51.7%Prime 29.9%Super prime 28.9%Super prime 13.2%Near prime 13.9%Near prime5.3%5.3%