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The US Auto Dealership Market: Size, Trends & Forecasts (2018-2022)

The US Auto Dealership Market: Size, Trends & Forecasts (2018-2022)

  • September 2018
  • 56 pages
  • ID: 5567628
  • Format: PDF
  • Daedal Research

Summary

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Scope of the Report
The report entitled “The US Auto Dealership Market: Size, Trends & Forecasts (2018-2022)”, provides analysis of the US auto dealership market, with detailed analysis of market size by value and segments.

Under competitive landscape, different players in the US auto dealership market have been compared on the basis of revenue and number of dealerships followed by a comparison of US based auto dealer companies on the basis of share.

Moreover, the report assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall auto dealership market has also been forecasted for the years 2018-2022, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

AutoNation Inc., Penske Automotive Group., Group 1 Automotive Inc. and Lithia Motors Inc. are some of the key players operating in the US auto dealership market, whose company profiling has been done in the report. In this segment of the report, business overview, financial overview and business strategies of the companies are provided.

Company Coverage
AutoNation Inc.
Penske Automotive Group
Group 1 Automotive Inc.
Lithia Motors Inc.

Executive Summary
An auto dealership is defined as a business whose main task is to sell new or used cars at the retail level. The selling of the new or used car is based on a dealership contract with an automaker or its sales subsidiary. Car dealerships are usually franchised to sell and service vehicles by specific companies. It is considered more safe to buy a car from auto dealers in comparison to private parties because of the former’s compulsion to abide by stringent laws. The auto dealership market can be divided into four segments namely new car dealers, used car dealers, parts and services and finance and insurance (F&I) services.

The US auto dealership market is forecasted to grow at a health rate during the forecast period (2018-2022). The market is supported by various growth drivers such as greater influx of off lease vehicles in the US in the years to come, hike in interest rates on new vehicles, incentives on new cars, introduction of standalone stores and gradually rising share of CPO sales from franchised dealers.

However, the market also faces some challenges such as limited number of auto dealerships offering hassle free customer experience, reducing customer satisfaction with traditional used car purchases and vulnerability of auto dealer industry to economic depressions.

New entrants like Vroom and Carvana making attempts to improve the satisfaction of customers from auto dealers and spike in omni channel investments by leading players in the auto dealer industry are some of the latest trends existing in the market.

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