GNYADA report quantifies dealers’ economic impact on New York metro area
The Greater New York Automobile Dealers Association wants people to know how important car dealerships are to the metropolitan area’s economy.
GNYADA’s 2024 Economic Impact Report highlights “the significant and often overlooked” contributions of Metro New York’s franchise car and truck dealerships, including their role in creating jobs, generating tax revenue and supporting local communities through charitable giving.
The report shows the New York area’s franchise dealers support 67,300 jobs — 37,200 direct employees and 30,100 indirect employees — accounting for 12.5% of all retail jobs in the area. Those employees are paid $6.3 billion annually.
Dealers are also a large part of the tax base, GNYADA’s report found, contributing $2.89 billion in state and local taxes, including $2.39 billion in state sales tax.
Metro New York new car dealers accounted for 65% of the vehicles sold in New York state in 2023, with 495,000 of the state’s 762,700 sales. They also donated $19.8 million in charitable contributions to schools, hospitals, foundations and many other community organizations — not to mention non-monetary contributions
Overall, the report said franchise car and truck dealerships in the New York City area generate a total of $67.6 billion in economic impact.
“Metro New York’s auto dealers are more than car dealers,” GNYADA president Mark Schienberg said in a news release. “They are an integral part of the communities they serve, supporting local economies, creating jobs and making meaningful contributions to a wide range of charitable causes.
“Their impact extends far beyond the showroom, touching countless lives across the region.”