More workers making more money.
That’s the crux of the latest report from the National Automobile Dealers Association
Employment and payroll at franchised dealerships continued to rise through the first six months of 2017, according to a new midyear report released by NADA.
Officials tabulated that franchised dealerships directly employed 1,134,200 workers through the second quarter of this year, up from a record 1,131,900 in 2016, according to NADA Data 2017: Midyear Report, which provides a biannual financial profile of franchised dealerships, as well as data on employment, payroll and more.
“We expect to see employment at new-car dealerships reach an all-time high at the end of 2017,” NADA senior economist Patrick Manzi said in a news release. “In addition to the direct employment provided by dealerships, more than another million other jobs in local communities are dependent on dealerships.”
The report indicated payroll at franchised dealerships reached nearly $33 billion in June year-to-date, up more than 11 percent compared to the same six months in 2016.
The average compensation for employees at franchised dealerships was $69,784 per year in 2016.
“For the past several years, dealership employees have seen steady increases in their incomes as well as in their total compensation,” Manzi added. “Dealership jobs offer significantly higher compensation than other retail sectors.”