Selling New Cars Proves Unprofitable For Most Auto Dealers [Forbes]
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Source: Forbes
Selling New Cars Proves Unprofitable For Most Auto Dealers July 20, 2019: Used Jaguar XJ car for sale outside a Jaguar Land Rover showroom. Jaguar Land Rover Limited is a British multinational automotive company. Getty For the first time since the Great Recession, the average U.S. new car dealer operated at a financial loss in 2018. After adding the income from all dealership departments (i.e., new cars, used cars, service and parts), the typical dealer lost $13,000 last year — compared to a $430,000 profit in 2013. To survive, dealers are now dependent on conditional income or “strings-attached” financial incentives from automakers. This shift in dealership profitability is reshaping an industry that is over a century old. ing new vehicles is unprofitable for most dealers, with the average car sold for a $735 loss as of the latest data. adoption of online shopping sites forced dealers to lower retail margins as buyers pursued the lowest prices. New car pricing is another cause, with
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