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Article: Auto dealerships: ranked by 2008 revenue.(THE LIST)(Company rankings)
- Article from:
- Los Angeles Business Journal
- Article date:
- August 17, 2009
- Author:
CopyrightCOPYRIGHT 2009 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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EXECUTIVE SUMMARY
AUTO dealerships have seen a significant decline in revenue and volume due to the recession. The 25 largest auto dealerships in Los Angeles County generated a combined $3.1 billion in revenue during 2008, down $514 million from the prior year, or 14 percent.
During 2008, the 25 largest dealerships sold 59,307 new vehicles; that's 11,031 vehicles fewer than 2007, a 16 percent decline.
The lone bright spot for dealers last year was the sale of used vehicles. As a group, the 25 largest dealerships saw a slight increase in used vehicles sold. They reported 22,058 used vehicles sold in 2008, compared with 21,492 in 2007.
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