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:
The Motor Vehicle and Parts Dealers industry, as classified under NAICS 441, is experiencing several notable qualitative trends. A key trend is the shift towards electric vehicles (EVs) driven by environmental concerns and regulatory pressures. Manufacturers are increasingly investing in EV technology, leading to a more diversified vehicle lineup that caters to a growing consumer demand for sustainable transportation.
Another significant trend is the integration of digital technologies into the customer experience. Dealerships are leveraging online platforms and virtual showrooms to enhance the sales process, enabling consumers to customize and purchase vehicles online. This digital transformation is also extending to after-sales services, with more dealers offering online scheduling for maintenance and repairs.
Auto parts dealers are witnessing a rise in demand for aftermarket parts, fueled by an increasing number of consumers opting to maintain or customize their existing vehicles instead of purchasing new ones. This trend is coupled with a growing interest in high-performance parts, particularly for EVs.
Looking ahead, forecasts suggest continued growth in EV sales as more players enter the market and charging infrastructure improves. Dealers are expected to adapt by offering specialized services for EVs, including maintenance and rapid charging solutions. Additionally, the volatile supply chain of parts emphasizes the importance of technological innovation to manage inventory efficiently and respond to market changes promptly. The near future holds the potential for an increased focus on hybrid models as a transitional solution, until further advancements in battery technologies make EVs more accessible and mainstream.
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.