New Jersey’s automotive retail industry is the strongest part of the State’s retail economy. In 2021, New Jersey’s franchised car and truck retailers sold more than 482,000 new vehicles and generated more than $40.8 billion in vehicle, parts and service sales. The industry also collected more than $1.96 billion in State and local taxes. In addition, more than 70,000 individuals are either directly employed or work in jobs supported by New Jersey’s 500 franchised new car and truck dealerships. These are good-paying, local jobs that can’t be outsourced.
Neighborhood new car dealers invest in their communities and collectively support hundreds of worthwhile charitable causes, from little league baseball teams, local hospitals, and everything in between.
Read more in the study below:
Economic Impact of Franchised New Vehicle Retailers On The New Jersey Economy