Major Group SIC 5511 - Motor Vehicle Dealers (new And Used)

SIC 5511 - Motor Vehicle Dealers (new And Used)

SIC 55 - Automotive Dealers And Gasoline Service Stations
SIC 01 - Agricultural Production Crops SIC 02 - Agricultural Production Livestock And Animal Specialties SIC 07 - Agricultural Services SIC 08 - Forestry SIC 09 - Fishing, Hunting, And Trapping SIC 10 - Metal Mining SIC 12 - Coal Mining SIC 13 - Oil And Gas Extraction SIC 14 - Mining And Quarrying Of Nonmetallic Minerals, Except Fuels SIC 15 - Building Construction General Contractors And Operative Builders SIC 16 - Heavy Construction Other Than Building Construction Contractors SIC 17 - Construction Special Trade Contractors SIC 20 - Food And Kindred Products SIC 21 - Tobacco Products SIC 22 - Textile Mill Products SIC 23 - Apparel And Other Finished Products Made From Fabrics And Similar Materials SIC 24 - Lumber And Wood Products, Except Furniture SIC 25 - Furniture And Fixtures SIC 26 - Paper And Allied Products SIC 27 - Printing, Publishing, And Allied Industries SIC 28 - Chemicals And Allied Products SIC 29 - Petroleum Refining And Related Industries SIC 30 - Rubber And Miscellaneous Plastics Products SIC 31 - Leather And Leather Products SIC 32 - Stone, Clay, Glass, And Concrete Products SIC 33 - Primary Metal Industries SIC 34 - Fabricated Metal Products, Except Machinery And Transportation Equipment SIC 35 - Industrial And Commercial Machinery And Computer Equipment SIC 36 - Electronic And Other Electrical Equipment And Components, Except Computer Equipment SIC 37 - Transportation Equipment SIC 38 - Measuring, Analyzing, And Controlling Instruments Photographic, Medical And Optical Good SIC 39 - Miscellaneous Manufacturing Industries SIC 40 - Railroad Transportation SIC 41 - Local And Suburban Transit And Interurban Highway Passenger Transportation SIC 42 - Motor Freight Transportation And Warehousing SIC 44 - Water Transportation SIC 45 - Transportation By Air SIC 46 - Pipelines, Except Natural Gas SIC 47 - Transportation Services SIC 48 - Communications SIC 49 - Electric, Gas, And Sanitary Services SIC 50 - Wholesale Trade-durable Goods SIC 51 - Wholesale Trade-non-durable Goods SIC 52 - Building Materials, Hardware, Garden Supply, And Mobile Home Dealers SIC 53 - General Merchandise Stores SIC 54 - Food Stores SIC 55 - Automotive Dealers And Gasoline Service Stations SIC 56 - Apparel And Accessory Stores SIC 57 - Home Furniture, Furnishings, And Equipment Stores SIC 58 - Eating And Drinking Places SIC 59 - Miscellaneous Retail SIC 60 - Depository Institutions SIC 61 - Non-depository Credit Institutions SIC 62 - Security And Commodity Brokers, Dealers, Exchanges, And Services SIC 63 - Insurance Carriers SIC 64 - Insurance Agents, Brokers, And Service SIC 65 - Real Estate SIC 67 - Holding And Other Investment Offices SIC 70 - Hotels, Rooming Houses, Camps, And Other Lodging Places SIC 72 - Personal Services SIC 73 - Business Services SIC 75 - Automotive Repair, Services, And Parking SIC 76 - Miscellaneous Repair Services SIC 78 - Motion Pictures SIC 79 - Amusement And Recreation Services SIC 80 - Health Services SIC 81 - Legal Services SIC 82 - Educational Services SIC 83 - Social Services SIC 84 - Museums, Art Galleries, And Botanical And Zoological Gardens SIC 86 - Membership Organizations or Unions And Similar Labor Organizations SIC 87 - Engineering, Accounting, Research, Management, And Related Services SIC 89 - Services, Not Elsewhere Classified SIC 96 - Administration Of Economic Programs
- SIC 551 - Motor Vehicle Dealers (New And Used)
  SIC 551 - Motor Vehicle Dealers (New And Used) SIC 552 - Motor Vehicle Dealers (Used Only) SIC 553 - Auto And Home Supply Stores SIC 554 - Gasoline Service Stations SIC 555 - Boat Dealers SIC 556 - Recreational Vehicle Dealers SIC 557 - Motorcycle Dealers SIC 559 - Automotive Dealers, Not Elsewhere Classified
  - SIC 5511 - Motor Vehicle Dealers (new And Used)
    SIC 5511 - Motor Vehicle Dealers (new And Used)

Establishments primarily engaged in the retail sale of new automobiles or new and used automobiles. These establishments frequently maintain repair departments and carry stocks of replacement parts, tires, batteries, and automotive accessories. These establishments also frequently sell pickups and vans at retail.

Industry trends:

As of the latest data in 2023, the motor vehicle dealer industry, especially those dealing in SIC 5511 (new and used vehicles), is experiencing significant qualitative trends influenced by technological advancements, consumer preferences, and regulatory pressures. A prominent trend is the increasing consumer demand for electric vehicles (EVs). Driven by environmental concerns and supportive government policies, dealers are expanding their EV inventories. This shift requires sales teams to have specialized knowledge about EVs and their associated technologies.

Digitalization continues to reshape the industry, with more consumers preferring online platforms for researching and purchasing vehicles. This has prompted dealers to invest heavily in digital retailing strategies, including virtual showrooms and sophisticated e-commerce infrastructures, enhancing customer engagement and streamlining the purchasing process.

There is also a growing emphasis on subscription models and flexible financing options, catering to the needs of a more financially cautious consumer base. These models offer consumers greater flexibility and are viewed as an alternative to traditional ownership, particularly appealing to younger, urban-based demographic groups.

Looking forward, the industry is expected to face increasing regulatory pressures to meet sustainability targets, compelling dealers to enhance their offerings in line with these requirements. The integration of advanced technologies such as AI and big data analytics is likely to become more prevalent, assisting dealers in inventory management and personalized marketing tactics.

The convergence of these trends suggests a dynamic future for motor vehicle dealers, characterized by technological integration, sustainable practices, and innovative customer engagement strategies. Dealers who adapt to these changes and leverage them effectively are poised to thrive in the evolving market landscape.

This industry is comprised of:

Automobile agencies (dealers)-retail

Automobiles, new and used-retail

Cars, new and used-retail

Motor vehicle dealers, new and used cars-retail

Pickups and vans, new and used-retail

Explore related industries:

SIC 5012 - Automobiles And Other Motor Vehicles SIC 5932 - Used Merchandise Stores SIC 7537 - Automotive Transmission Repair Shops

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