New Car Dealers in Florida
The New Car Dealers industry in Florida has experienced slow-to-moderate growth over the five years to 2017. Rising employment and income levels, as well as historically low interest rates, have driven up consumer confidence, spurring more consumers to make large purchases, such as automobiles. Moreover, a gradually aging vehicle fleet has also fostered demand and revenue growth, as buyers are more apt to trade in older vehicles for updated models. However, rising interest rates are troublesome for car dealers in Florida, especially operators in South Florida, which rely heavily on auto leasing to generate revenue. With the era of cheap credit slowly coming to an end, consumers will be less apt to lease or purchase new automobiles. These factors will lead to industry revenue declining over the five years to 2022.
This industry sells new and used passenger vehicles. Vehicles include passenger cars, light trucks, sport utility vehicles (SUVs) and passenger vans. New car dealers also sell parts and provide repair services.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.