1、2022ANNUAL FINANCIAL PROFILE OF AMERICAS FRANCHISED NEW-TRUCK DEALERSHIPSATD DATA 2022|atd.org 1 OverviewATD Dataour annual financial profile of new-truck dealershipspresents an overview of franchised new medium-and heavy-duty truck dealerships in 2022.Some highlights:Franchised truck dealers sold 4

2、76,040 medium-and heavy-duty trucks in 2022.Total new-truck dealership sales topped$117 billion.Truck dealerships employed more than 133,000 people.Truck dealerships wrote more than 10 million repair orders,with over$41 billion in service and parts sales.Commercial truck sales increased in 2022,desp

3、ite the industry experiencing significant supply-chain issues throughout the year.Class 8 truck sales,which rose by 14.6%in 2022,boosted total commercial truck sales by 3.1%for the year.Still,many dealers were not able to meet customer demand,because the OEMs could not build enough trucks.This led c

4、ustomers to look for equipment in the used-truck market,where used Class 8 truck values peaked in the first half of 2022breaking the$100,000 ceiling for the first time.Used-truck prices have declined steadily since then but remain above pre-pandemic levels.Even though the industry has not completely

5、 moved past the microchip shortage,we believe that the worst is over as far as truck production is concerned.Pent-up demand from customers who were not able to buy new trucks in 2022 will help bolster 2023 sales.Another issue for the industry throughout 2022 was rising interest rates.We expect finan

6、cing rates to climb higher in first-half 2023 and lending standards to tighten a bit,which will be additional headwinds for new-truck sales in 2023.Despite these challenges,we expect commercial truck sales this year will be up slightly from 2022 and that 2023 should be another great year for America

7、s franchised truck dealers.CONTENTSTruck Dealerships.2Dealership Financial Trends.6New-Truck Department.8Used-Truck Department.10Service and Parts Department.11Body Shop Department.14Dealership Advertising.15Employment.16Patrick Manzi Chief Economist,NADAATD DATA 2022|atd.org 2 Truck DealershipsAver

8、age Truck Dealership Profile202020212022Total sales$35,764,943$45,989,520$52,541,933 Total gross1$6,305,514$8,696,319$10,644,440 As%of total sales17.6%18.9%20.3%Total expense$5,355,861$6,656,300$7,543,009 As%of total sales15.0%14.5%14.4%As%of total gross84.9%76.5%70.9%Total operating profit$899,314$

9、2,040,019$3,101,432 As%of total sales2.5%4.4%5.9%As%of total gross14.3%23.5%29.1%Net profit before tax$929,092$2,376,985$3,107,370 As%of total sales2.6%5.2%5.9%As%of total gross14.7%27.3%29.2%New-truck department2 New-truck department total sales$19,519,625$24,299,617$27,965,925 New-truck department

10、 sales as%of total sales54.6%53.6%53.9%New-truck department gross as%of total gross15.1%15.8%19.9%New Class 8 truck selling price(retail)$130,595$140,826$143,475 Gross as%of selling price4.6%5.5%7.5%Retail gross profit per new Class 8 truck retailed$6,044$7,752$10,787 Retail net profit per new Class

11、 8 truck retailed$1,159$3,116$5,740 F&I income as%of new-truck sales0.6%0.8%0.7%F&I penetration(new)11.3%11.3%8.3%1 Gross profit includes cost of goods sold,but not SG&A or advertising.2 Excludes F&I sales unless otherwise noted.ATD DATA 2022|atd.org 3 Truck Dealerships(continued)Average Truck Deale

12、rship Profile(continued)202020212022Used-truck department2 Used-truck department sales$2,303,632$4,574,131$4,737,444 Used-truck department sales as%of total sales6.4%10.1%9.1%Used-truck department gross as%of total gross2.4%5.9%4.2%Used Class 8 truck selling price(retail)$51,155$67,330$84,369 Gross

13、as%of selling price6.4%12.7%11.2%Retail gross profit per used Class 8 truck retailed$3,295$8,575$9,488 Retail net profit per used Class 8 truck retailed($1,543)$3,106$1,274 F&I income as%of used-truck sales0.9%1.0%1.0%F&I penetration(used)4.1%2.4%2.3%Used-to new-unit truck ratio(retail only)39.3%43.

14、5%29.2%Service,parts and body shop department Service,parts and body shop sales$12,978,145$16,424,240$19,168,539 Service,parts and body shop sales as%of total sales36.3%36.3%37.0%Service,parts and body shop gross as%of total gross81.6%76.6%74.3%Warranty(%of total service,parts and body shop sales)10

15、.4%8.7%8.1%Advertising expense3$56,418$71,901$84,154 As%of total sales0.2%0.2%0.2%Per new truck retailed$492$524$515 Rent and equivalent$590,702$727,438$742,946 As%of total sales1.7%1.6%1.4%Per new truck retailed$5,150$5,298$4,550 Floor plan interest$120,566$38,112$86,781 As%of total sales0.3%0.1%0.

16、2%Per new vehicle retailed$1,051$278$531 2 Excludes F&I sales unless otherwise noted.3 Advertising expense includes advertising and sales promotion less advertising rebates.Some advertising data are reported in one account that includes sales promotion and is already less advertising rebates.Source:

17、NADAATD DATA 2022|atd.org 4 Truck Dealerships(continued)Alabama39Alaska11Arizona26Arkansas27California153Colorado32Connecticut26Delaware6Florida105Georgia58Hawaii7Idaho24Illinois78Indiana62Iowa53Kansas35Kentucky25Louisiana49Maine17Maryland52Massachusetts49Michigan59Minnesota53Mississippi30Missouri54

18、Montana17New-Truck Dealerships by State,2022Total U.S.Rooftop Count,by YearNebraska28Nevada11New Hampshire15New Jersey57New Mexico16New York84North Carolina68North Dakota16Ohio90Oklahoma29Oregon37Pennsylvania115Rhode Island7South Carolina28South Dakota13Tennessee49Texas182Utah20Vermont12Virginia53Wa

19、shington47West Virginia14Wisconsin77Wyoming12Total U.S.2,227TOTAL NEW-TRUCK DEALERSHIPS2,227Source:NADA2,2462,2402,2652,2612,2472,2222,233202220201505001,0001,5002,0002,5002,227Source:NADA ATD DATA 2022|atd.org 5 Section TitleShare of Owners by Number of Dealerships Operated,by

20、 YearNumber of dealerships200020202120221-595.6%95.5%95.3%95.3%94.7%94.6%94.2%93.5%92.8%6-103.3%3.3%3.3%3.3%3.8%4.0%4.2%4.2%4.5%11-150.8%0.8%0.9%0.8%0.8%0.7%0.7%1.1%1.2%16-250.2%0.3%0.3%0.3%0.5%0.6%0.7%0.9%1.2%26-500.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.1%Greater than 500.2%0.2%0.2%

21、0.2%0.2%0.2%0.2%0.2%0.2%Source:NADATruck Dealerships(continued)ATD DATA 2022|atd.org 6 Dealership Financial TrendsStateAll dealerships ($millions)Alabama$2,049 Alaska$578 Arizona$1,366 Arkansas$1,419 California$8,039 Colorado$1,681 Connecticut$1,366 Delaware$315 Florida$5,517 Georgia$3,047 Hawaii$36

22、8 Idaho$1,261 Illinois$4,098 Indiana$3,258 Iowa$2,785 Kansas$1,839 Kentucky$1,314 Louisiana$2,575 Maine$893 Maryland$2,732 Massachusetts$2,575 Michigan$3,100 Minnesota$2,785 Mississippi$1,576 Missouri$2,837 Montana$893 StateAll dealerships ($millions)Nebraska$1,471 Nevada$578 New Hampshire$788 New J

23、ersey$2,995 New Mexico$841 New York$4,414 North Carolina$3,573 North Dakota$841 Ohio$4,729 Oklahoma$1,524 Oregon$1,944 Pennsylvania$6,042 Rhode Island$368 South Carolina$1,471 South Dakota$683 Tennessee$2,575 Texas$9,563 Utah$1,051 Vermont$631 Virginia$2,785 Washington$2,469 West Virginia$736 Wiscon

24、sin$4,046 Wyoming$631 Total U.S.$117.01Total Sales by State,2022Source:NADAATD DATA 2022|atd.org 7 Dealership Financial Trends(continued)Share of Total Dealership Sales Dollars,2021 vs.2022Source:NADAAll dealerships,in billions of dollars(left scale)Average per dealership,in millions of dollars(righ

25、t scale)$97.33$85.47$93.22$109.18$105.33$42.97$37.80$41.49$48.61$35.76$102.69$45.99$47.02$79.4760708090100110$20202000455055$60$117.01$52.54Total Sales of New-Truck Dealerships,by YearSource:NADAPre-tax Net Profit Share of Sales01.02.03.04.05.06.0%3.0%3.0%3.1%2.4%2.6

26、%2.6%5.2%20222020155.9%Source:NADA20212022Used trucks10.1%53.6%New trucksService and parts36.3%Used trucks9.1%53.9%New trucksService and parts37.0%20222Used trucks10.1%53.6%New trucksService and parts36.3%ATD DATA 2022|atd.org 8 New-Truck DepartmentAverage Number of

27、Class 8 Units Sold and Selling Price,by YearYearNew trucks soldAverage retail selling price2015188$120,348 2016145$119,574 2017164$118,287 2018193$117,426 2019194$122,548 2020115$130,595 2021137$140,826 2022163$143,475 SOLD$143,475 AVERAGE SELLING PRICE OF NEW TRUCKS SOLD,CLASS 8(by new-truck dealer

28、ships)Total New-Truck Sales,by YearYearClass 4Class 5Class 6Class 7Class 8Total201514,36272,28655,11858,888248,804449,458201614,23872,25261,28759,917192,664400,358201718,69079,02563,45461,621192,252415,042201820,50281,34771,62663,828250,545487,848201921,89284,75477,62966,469276,348527,092202021,7839

29、3,08152,21350,676191,900409,653202128,428101,77061,48748,018221,889461,592202224,00379,96071,99845,873254,206476,040Source:Wards IntelligenceSource:NADAATD DATA 2022|atd.org 9 New-Truck Department(continued)Market Share by Manufacturer,2022Source:Wards Intelligence31.822.713.59.17.86.92.12.12.02.037

30、.915.314.412.610.66.72.5CLASS 8 C LA S S E S 4-7MACKWESTERN STARPETERBILTGMDODGEMACKHINOMarket Share(%)VOLVOYTD Change(%)YTDChange(%)MarketShare(%)ISUZUFORDFREIGHTLINERINTERNATIONAL1.93.81.50.51.31.32.10.41.42.41.9FREIGHTLINERPETERBILTKENWORTH1.70.20.10.60.70.50.3INTERNATIONALKENWORTHATD DATA 2022|a

31、td.org 10 Used-Truck DepartmentAverage Class 8 Used Units Sold per Dealership,by Year00607052545270634560202220201548Average Retail Selling Price of Class 8 Used Trucks Sold by New-Truck Dealerships,by YearIn thousands407080$90$47,901$47,217$55,395$47,562$51,155$53,4

32、09$67,33060502022202015$84,369SOLD$84,369AVERAGE RETAIL SELLING PRICE OF CLASS 8 USED TRUCKS SOLD(by new-truck dealerships)Source:NADASource:NADA48AVERAGE NUMBER OF USED CLASS 8 TRUCKS SOLD IN 2022(per new-truck dealership)ATD DATA 2022|atd.org 11 Service and Parts DepartmentSe

33、rvice labor sales(in billions of dollars)0123456$7InternalWarrantyCustomer mechanical$6.37$0.70$1.55 Dealerships Total Service and Parts Sales,2022Parts sales(in billions of dollars)OtherWholesaleCounterBody shopInternalWarrantyCustomermechanical048121620$24$5.33$0.48$0.90$1.89$0.21$20.74$3.24Dealer

34、ships Total Service andParts Sales,2022(in billions of dollars)Service labor salesCustomer mechanical$6.37 Warranty$1.55 Internal$0.70 Total service labor$8.61 Parts salesCustomer mechanical$5.33 Warranty$1.89 Internal$0.90 Body shop$0.48 Counter$20.74 Wholesale$3.24 Other$0.21 Total parts$32.78 Sou

35、rce:NADASource:NADA$41.9 billionSERVICE AND PARTS SALES(for all truck dealerships)ATD DATA 2022|atd.org 12 Service and Parts Department(continued)$18.81 millionSERVICE AND PARTS SALES(per truck dealership)45,739TECHNICIANS(including body shop)10.5+millionREPAIR ORDERS WRITTENIn billions of dollars$3

36、1.63$26.39$33.94$32.47$28.11$27.95$35.94$41.9025303540$452022202015Dealerships Total Service and Parts Sales,by YearSource:NADAATD DATA 2022|atd.org 13 Service and Parts Department(continued)Fixed Absorption by Year107.9%102.6%104.1%106.8%101.8%103.5%107.0%2116%20222

37、02015114.6%Profile of Dealerships Service and Parts Operations,2022Average dealershipAll dealersTotal service and parts sales$18,814,603$41,900,120,201 Service and parts gross profit as%of service and parts sales38.4%Total number of repair orders written4,74910,576,629Service a

38、nd parts sales per customer repair order$6,210 Service and parts sales per warranty repair order$16,852 Parts sales per service labor sale$3.81 Number of technicians(including body shop)2145,739Number of technicians(excluding body shop)1738,930Total parts inventory$344,253$766,650,635 Customer mecha

39、nical labor rate$141 Source:NADASource:NADAATD DATA 2022|atd.org 14 Body Shop DepartmentDealerships Operating On-Site Body Shops,by YearPercent of total dealership population38.7%39.3%36.8%34.3%36.7%35.2%32.4%30354045%202220201532.1%Average Dealership Body Shop Sales,by YearAve

40、rage dealership body shop sales,in thousands of dollars(left scale)Body shop sales per repair order,in dollars(right scale)$319.48$267.51$477.85$369.23$385.86$1,688$1,564$1,286$1,519$2,006$2,382$329.63$329.39$2,5$500202220201501,0002,000$3,000$353.94$2,706Source:NADA

41、Source:NADAATD DATA 2022|atd.org 15 Dealership AdvertisingAdvertising Expenditure,by Year0100200300$4002022202015Total dealerships,in millions of dollars(left scale)Average per dealership,in thousands of dollars(right scale)5080110140$170$355.20$338.25$202.00$157.10$149.34$78.6

42、5$89.94$105.48$125.36$56.42$237.02$176.18$160.55$71.90$187.41$84.15Average Dealership Advertising per Class 8 New Unit Sold,by Year300$1,100In dollars700500900$463$1,080$561$911$408$492$5242022202015$515Source:NADASource:NADAATD DATA 2022|atd.org 16 Dealership Employment by Pos

43、ition,2022EmploymentEstimated Number of Dealership Employees,by YearNew-and used-truck salespeople4.6%Supervisors34.2%TechniciansOther service andparts employees43.3%10.2%7.6%OtherTotal of all dealerships,in thousands(left scale)Average number per dealership(right scale)122.48148.99145.31144.02129.3

44、95755646664122.735556202220205560657075133.68125.4560Alabama2,341Alaska660Arizona1,561Arkansas1,621California9,184Colorado1,921Connecticut1,561Delaware360Florida6,303Georgia3,482Hawaii420Idaho1,441Illinois4,682Indiana3,722Iowa3,181Kansas2,101Kentucky1,501L

45、ouisiana2,941Maine1,020Maryland3,121Massachusetts2,941Michigan3,542Minnesota3,181Mississippi1,801Missouri3,241Montana1,020Estimated Dealership Employment by State,2022Nebraska1,681Nevada660New Hampshire900New Jersey3,422New Mexico960New York5,042North Carolina4,082North Dakota960Ohio5,402Oklahoma1,7

46、41Oregon2,221Pennsylvania6,903Rhode Island420South Carolina1,681South Dakota780Tennessee2,941Texas10,925Utah1,201Vermont720Virginia3,181Washington2,821West Virginia840Wisconsin4,622Wyoming720Total U.S.133,682Source:NADASource:NADASource:NADAATD DATA 2022|atd.org 17 Employment(continued)Alabama$146.6

47、9Alaska$41.37Arizona$97.79Arkansas$101.56California$575.48Colorado$120.36Connecticut$97.79Delaware$22.57Florida$394.94Georgia$218.16Hawaii$26.33Idaho$90.27Illinois$293.38Indiana$233.20Iowa$199.35Kansas$131.65Kentucky$94.03Louisiana$184.31Maine$63.94Maryland$195.59Massachusetts$184.31Michigan$221.92M

48、innesota$199.35Mississippi$112.84Missouri$203.11Montana$63.94Estimated Payroll by State,2022(in millions of dollars)Nebraska$105.32Nevada$41.37New Hampshire$56.42New Jersey$214.40New Mexico$60.18New York$315.95North Carolina$255.77North Dakota$60.18Ohio$338.52Oklahoma$109.08Oregon$139.17Pennsylvania$432.55Rhode Island$26.33South Carolina$105.32South Dakota$48.90Tennessee$184.31Texas$684.56Utah$75.23Vermont$45.14Virginia$199.35Washington$176.78West Virginia$52.66Wisconsin$289.62Wyoming$45.14Total U.S.$8,376.49Source:NADA