United States new car and light truck dealers weathered a struggling economy and September’s terrorist attacks to sell a near-record 17.12 million new vehicles in 2001, worth $US690 billion, according to data compiled by National Automobile Dealers Association (NADA).

Major incentive programmes introduced after the September 11 terririst attacks on New York and Washington paved the way for an unexpectedly strong fourth-quarter performance and a record level of October sales. The year’s strong finish propelled sales to the second highest total in history and an unparalleled run of six straight years with annual sales of over 15 million vehicles.

“Considering the extraordinary challenges dealers faced in 2001, it was truly a remarkable year for our industry,” said NADA chief economist Paul Taylor.

“The momentum is carrying over to this year, which will likely see sales topping 16 million.”

NADA data shows that, for the first time, light trucks outsold cars, rising to 50.8 percent (8.7 million units) of light vehicle sales. The average selling price of a new vehicle increased 3.6 percent in 2001 to $25,800.

Dealers added 15,600 employees to their payrolls, bringing total dealership employment to approximately 1.13 million and the total payroll to $48 billion.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The consolidation trend for franchised dealerships picked up pace in 2001, with the net dealership count dropping by 350 – the largest decline since 1993.

Franchised new car dealers sold 13.3 million used vehicles at an average price of $13,900. Auctions were the source for a record 35 percent of used vehicle inventory for dealers.