NAICS 441 - Motor Vehicle and Parts Dealers
Industries in the Motor Vehicle and Parts Dealers subsector retail motor vehicles and parts from fixed point-of-sale locations. Establishments in this subsector typically operate from a showroom and/or an open lot where the vehicles are on display. The display of vehicles and the related parts require little by way of display equipment. The personnel generally include both the sales and sales support staff familiar with the requirements for registering and financing a vehicle as well as a staff of parts experts and mechanics trained to provide repair and maintenance services for the vehicles. Specific industries have been included in this subsector to identify the type of vehicle being retailed.
Sales of capital or durable nonconsumer goods, such as medium and heavy-duty trucks, are always included in wholesale trade. These goods are virtually never sold through retail methods.
Industry trends:
In the NAICS 441 sector, Motor Vehicle and Parts Dealers, several qualitative trends are emerging. One prominent trend is the significant shift towards electric vehicles (EVs). As environmental concerns grow and regulatory pressures increase, dealers are expanding their EV offerings and investing in charging infrastructure. Consumer acceptance of EVs is accelerating, driven by advancements in battery technology and extended vehicle range.
Another important trend is the integration of advanced technologies in vehicles, such as autonomous driving features, connected car services, and enhanced infotainment systems. Consumers are increasingly looking for cars with these technological enhancements, prompting dealers to prioritize inventory that meets these demands.
Additionally, online sales and digital engagement are becoming more critical. The COVID-19 pandemic spurred a shift to virtual showrooms and online purchasing processes, a trend that continues to influence the industry. This digital transformation includes augmented reality for vehicle tours, online financing plans, and enhanced e-commerce platforms.
Forecasts for the near future anticipate continued growth in EV market share and further advancements in automotive technology. Dealers who adapt to and embrace these trends are likely to see increased sales and customer loyalty. Furthermore, the focus on sustainability and the digital customer experience is expected to intensify, driving innovation and competition within the sector.
This industry is comprised of:
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
With iCFO You Get
What Is iCFO?
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Sound Business Analysis
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
Your Business’ Health In Minutes
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.