U.S. auto retail revenue hit $1.2 trillion in 2023, yet the path to purchase is getting faster and more digital at the same time. Buyers now weigh fuel efficiency, ADAS, and charging access alongside price, while online offers and trade ins reshape how deals close. Here are the key Automotive Retail Industry statistics that explain what changed and what customers still refuse to compromise on.
Key Takeaways
- 55% of U.S. auto buyers researched online first in 2023, avg 14 hours per purchase
- 62% of new-vehicle buyers in 2023 prioritized fuel efficiency over performance
- Millennial and Gen Z buyers accounted for 45% of used-car retail purchases in 2023
- U.S. auto retail employment totaled 1.2 million in 2023, up 2% YoY
- Average dealership salesperson earned $125,000 total comp in 2023, incl commissions
- Technician shortage left 40,000 unfilled positions in U.S. auto retail 2023
- Average inventory days on lot fell to 38 for new vehicles in 2023
- U.S. new-vehicle dealer inventory averaged 2.7 million units in Dec 2023, up 40% YoY
- Used-car wholesale auction volume hit 10.2 million units in 2023, avg wholesale price $21,500
- North American new light truck sales grew 15% to 12.3 million units in 2023, $650 billion revenue
- U.S. auto retail industry CAGR projected at 4.2% from 2023-2028, reaching $1.5 trillion by 2028
- EV market share in U.S. new retail sales rose from 5.8% in 2022 to 7.6% in 2023
- In 2023, U.S. new light-vehicle retail sales totaled 15.5 million units, marking a 12.4% increase from 2022
- Automotive retail revenue in the U.S. reached $1.2 trillion in 2023, driven by higher average transaction prices averaging $48,759 per new vehicle
- Franchise dealership new-vehicle gross profit margins averaged 6.1% in Q4 2023, up from 5.7% in Q4 2022 due to improved inventory turnover
In 2023, shoppers moved online faster and to EVs, cutting purchase time while boosting digital sales and dealership profits.
Related reading
01 · Category
Consumer Behavior and Preferences26 stats
01
55% of U.S. auto buyers researched online first in 2023, avg 14 hours per purchase
02
62% of new-vehicle buyers in 2023 prioritized fuel efficiency over performance
03
Millennial and Gen Z buyers accounted for 45% of used-car retail purchases in 2023
04
78% of U.S. consumers considered EV or hybrid in 2023 shopping process, up from 55% in 2022
05
Average time to buy a vehicle dropped to 9.5 hours in 2023 from 12 hours pre-pandemic
06
41% of buyers traded in online offers in 2023, avg $1,200 premium over dealer appraisal
07
Women represented 52% of new-vehicle decision-makers in U.S. retail 2023
08
67% of buyers valued tech features like ADAS over horsepower in 2023 surveys
09
Hispanic buyers grew to 20% of U.S. auto retail market in 2023, preferring SUVs
10
35% of consumers delayed purchases in 2023 due to high interest rates averaging 7.5%
11
Loyalty rate for brand buyers fell to 48% in 2023 from 55% in 2021
12
72% of Gen Z buyers preferred touchless buying processes in 2023
13
Average down payment rose to 20% of ASP in 2023, $9,700 for new vehicles
14
55% of buyers read 10+ online reviews before visiting dealership in 2023
15
Pickup trucks preferred by 65% of male buyers aged 35-54 in 2023 surveys
16
48% of EV intenders cited charging infrastructure as top barrier in 2023
17
Urban buyers favored compact cars 30% more than rural in 2023 data
18
60% of buyers negotiated price digitally in 2023, saving avg $500
19
Boomers prioritized reliability, 82% factor in JD Power scores for 2023 purchases
20
70% of luxury buyers leased in 2023 vs 25% mass-market
21
Social media influenced 42% of under-35 buyers in 2023, TikTok top platform
22
38% switched to used from new due to pricing in 2023
23
Safety ratings swayed 75% of family buyers in 2023
24
52% of buyers wanted 360-video tours online in 2023
25
Credit score avg for new-car buyers was 755 in 2023, up 10 points YoY
26
65% preferred in-person test drives despite digital shift in 2023
Interpretation
Consumer Behavior and Preferences Interpretation
While car buyers are now better informed and more frugal than ever, the modern dealership must adapt to a landscape where digital homework, shifting priorities, and diverse buyer power are steering the conversation toward efficiency, technology, and a seamless process.
02 · Category
Employment and Workforce25 stats
01
U.S. auto retail employment totaled 1.2 million in 2023, up 2% YoY
02
Average dealership salesperson earned $125,000total comp in 2023, incl commissions
03
Technician shortage left 40,000 unfilled positions in U.S. auto retail 2023
04
25% of dealership employees were women in 2023, up from 20% in 2019
05
Sales staff turnover rate was 42% industry avg in 2023
06
Training hours per service tech averaged 40 annually in 2023
07
Franchise dealers employed 960,000 people in 2023, 80% of total sector
08
EV-certified technicians numbered 50,000 in U.S. retail by end-2023
09
Average service advisor pay rose to $85,000in 2023, 8% growth
10
15% of workforce aged 55+ in 2023, retirement wave projected
11
Digital marketing roles grew 30% at dealerships in 2023
12
Parts counter staff avg tenure 4.2 years in 2023
13
Unionization efforts covered 5% of U.S. auto retail workers in 2023
14
Remote work adopted by 12% admin roles in 2023
15
Collision tech wages averaged $28/hour in 2023, shortage 20%
16
Gen Z hires 22% of sales force in 2023, training ROI 150%
17
Benefits costs rose 7% to $15,000 per employee in 2023
18
65% dealers used AI for hiring in 2023, reducing time 30%
19
F&I manager avg comp $150,000in 2023
20
Independent dealers employed 240,000 in 2023, avg 8 per store
21
Diversity training reached 80% workforce in 2023
22
Overtime hours avg 5/week for techs in 2023
23
Leadership roles turnover 18% in 2023
24
Apprenticeship programs trained 10,000 techs in 2023
25
Pay transparency laws impacted 40% dealers in 2023 hires
Interpretation
Employment and Workforce Interpretation
The auto retail industry is driving forward with more money and diversity, yet it's stuck in neutral with a chronic technician shortage, high sales turnover, and a looming retirement wave, all while racing to train for an electric future and keep up with modern workplace demands.
03 · Category
Inventory and Supply Chain25 stats
01
Average inventory days on lot fell to 38 for new vehicles in 2023
02
U.S. new-vehicle dealer inventory averaged 2.7 million units in Dec 2023, up 40% YoY
03
Used-car wholesale auction volume hit 10.2 million units in 2023, avg wholesale price $21,500
04
Chip shortage resolved, semiconductor supply up 25% for auto OEMs in 2023
05
Dealer new-vehicle acquisition costs averaged $45,200in 2023
06
Off-lease used inventory returned 2.8 million units to market in 2023
07
Logistics delays for imported vehicles reduced to 20 days avg in 2023 from 45
08
EV battery supply chain secured 1.5 million units for U.S. retail in 2023
09
Trade-ins comprised 55% of used inventory for franchise dealers in 2023
10
Parts inventory turnover ratio improved to 5.8x in 2023 for dealerships
11
Auction conversion rates for used vehicles averaged 72% in 2023
12
New SUV inventory days supply was 42 in Q4 2023, vs 65 for sedans
13
Freight costs for vehicle transport fell 15% to $1,800 per unit in 2023
14
Certified pre-owned inventory grew 10% to 2.9 million eligible units in 2023
15
Steel and aluminum supply stabilized, costs down 8% for vehicle builds in 2023
16
Dealer floorplan financing averaged $150,000per vehicle in stock 2023, total $400B outstanding
17
Used truck inventory tightest at 25 days supply in 2023
18
OEM allocation to dealers increased 18% to 16M vehicles in 2023
19
Aftermarket parts import from China hit $120B in 2023, 60-day port dwell avg
20
Luxury vehicle inventory averaged 55 days supply in 2023, higher than mass market 35 days
21
Wholesale used values stabilized with 1.2% MoM growth in Dec 2023
22
EV dealer stock turned 12x in 2023 vs 8x for ICE vehicles
23
Tire inventory levels optimal at 45 days for dealers in 2023
24
Program cars from rentals added 1.2M to used inventory 2023
25
Supply chain digitization adopted by 70% dealers, reducing stockouts 25% in 2023
Interpretation
Inventory and Supply Chain Interpretation
With chips flowing again but dealers’ wallets feeling the pinch, the auto retail machine is now humming efficiently enough to churn out metal, yet it’s become a ruthless game of moving that metal before the floorplan interest and market whims turn a hot inventory into a cold financial burden.
More related reading
04 · Category
Market Trends and Growth24 stats
01
North American new light truck sales grew 15% to 12.3 million units in 2023, $650 billion revenue
02
U.S. auto retail industry CAGR projected at 4.2% from 2023-2028, reaching $1.5 trillion by 2028
03
EV market share in U.S. new retail sales rose from 5.8% in 2022 to 7.6% in 2023
04
Online vehicle shopping penetration reached 95% of buyers in 2023, up from 88% in 2022
05
U.S. new-vehicle affordability index fell to 75 in 2023 from 85 in 2022 due to rising ASPs
06
Hybrid vehicle retail sales doubled to 1.1 million units in 2023, 7% market share
07
Dealer digital retailing adoption hit 60% of transactions in 2023, reducing time-to-close by 20%
08
U.S. used-car inventory levels stabilized at 2.3 million units by end-2023, up 25% YoY
09
Pickup truck market share expanded to 20.3% of U.S. retail sales in 2023 from 18.5% in 2022
10
Global auto retail e-commerce sales grew 22% to $250 billion in 2023, U.S. at $50 billion
11
U.S. franchise dealership count declined 1.2% to 16,800 in 2023 due to consolidations
12
Average vehicle age in U.S. fleet reached 12.5 years in 2023, driving replacement demand
13
Off-road and adventure vehicle segment grew 18% in retail sales in 2023
14
U.S. auto retail supply chain disruptions eased, with 90-day lead times down to 45 days by Q4 2023
15
Chinese EV brands captured 2% U.S. retail market share in 2023 via imports
16
Subscription-based vehicle services enrolled 5 million U.S. consumers in 2023, 15% growth
17
U.S. new-vehicle sales penetration via fleets rose to 25% in 2023 from 22%
18
Luxury brand retail growth averaged 10% across BMW, Mercedes, Audi in U.S. 2023
19
Autonomous vehicle retail pilots reached 50,000 units in U.S. in 2023
20
U.S. retail sales conversion rate from leads improved to 18% in 2023 with CRM tools
21
Compact SUV sales share hit 22% of U.S. market in 2023, up 3 points YoY
22
Post-COVID retail foot traffic recovered to 92% of 2019 levels by end-2023
23
U.S. auto retail M&A deals totaled 250 in 2023, value $15 billion
24
Ride-sharing impact reduced personal vehicle retail by 5% in urban areas 2023
Interpretation
Market Trends and Growth Interpretation
So while we're all buying our trucks and SUVs online and feeling nostalgic for when cars were affordable, the industry is calmly consolidating, electrifying, and counting its trillions.
05 · Category
Sales and Revenue Statistics30 stats
01
In 2023, U.S. new light-vehicle retail sales totaled 15.5 million units, marking a 12.4% increase from 2022
02
Automotive retail revenue in the U.S. reached $1.2 trillion in 2023, driven by higher average transaction prices averaging $48,759 per new vehicle
03
Franchise dealership new-vehicle gross profit margins averaged 6.1% in Q4 2023, up from 5.7% in Q4 2022 due to improved inventory turnover
04
U.S. used-vehicle retail sales hit 20.3 million units in 2023, generating $800 billion in revenue with average prices at $27,300
05
Luxury vehicle segment retail sales grew 8.2% YoY in 2023, accounting for 12% of total new car sales with revenue of $150 billion
06
Electric vehicle (EV) retail sales in the U.S. surged 49% to 1.18 million units in 2023, contributing $65 billion to dealership revenue
07
Average new-vehicle finance and insurance (F&I) revenue per retail sale reached $2,456in 2023, a 4% increase from 2022
08
Pickup truck retail sales dominated with 2.98 million units sold in the U.S. in 2023, representing 19% of total sales and $200 billion revenue
09
SUV/Crossover retail sales accounted for 9.2 million units in 2023, generating 45% of new-vehicle retail revenue at $450 billion
10
Independent used-car dealers sold 7.5 million vehicles in 2023, with total revenue of $250 billion and average gross profit of $2,100 per unit
11
U.S. auto retail gross profit per new vehicle rose to $3,800in 2023 from $3,200 in 2022, boosted by service absorption rates of 85%
12
Franchise dealer service revenue hit $140 billion in 2023, with repair order averages at $550, up 7% YoY
13
Total U.S. automotive aftermarket retail sales reached $450 billion in 2023, including parts and labor at dealerships and independents
14
Compact car retail sales declined 5% to 1.8 million units in 2023, but revenue held at $70 billion due to higher pricing
15
Heavy truck retail sales in North America totaled 285,000 units in 2023, generating $35 billion in revenue for dealers
16
U.S. new-vehicle average selling price (ASP) climbed to $48,759in 2023, fueling $751 billion in total retail sales value
17
Certified pre-owned (CPO) vehicle retail sales reached 2.4 million units in 2023, with revenue of $80 billion and margins of 8.5%
18
Motorcycle retail sales in the U.S. totaled 450,000 units in 2023, contributing $12 billion to dealer revenue
19
RV retail sales dropped to 300,000 units in 2023 but revenue stayed at $25 billion due to premium models
20
Collision repair revenue for dealerships hit $50 billion in 2023, with average claim values at $5,200
21
Global automotive retail market size was valued at $2.8 trillion in 2023, with U.S. holding 25% share at $700 billion
22
U.S. franchise dealership net profit after tax averaged $1.8 million per store in 2023, up 15% YoY
23
Used vehicle ASP averaged $27,300in 2023, leading to $554 billion in retail sales volume
24
Parts and accessories retail sales at dealerships totaled $90 billion in 2023, with 12% growth in online sales
25
Sedan retail sales fell to 1.7 million units in 2023, 11% of market, revenue $65 billion
26
The U.S. new-car retail market saw a 38-day supply in Q4 2023, boosting sales velocity and revenue per dealer
27
Franchise dealers' total revenue per employee reached $1.2 million in 2023, reflecting operational leverage
28
Luxury SUV sales hit 1.2 million units in 2023, $120 billion revenue, 15% growth
29
Average F&I gross profit per used vehicle sale was $1,800in 2023, up 6%
30
Total U.S. auto lease originations reached 3.5 million in 2023, contributing $150 billion to retail finance revenue
Interpretation
Sales and Revenue Statistics Interpretation
The auto industry's 2023 report card shows a market that has brilliantly mastered the art of selling fewer cars for far more money, proving that a hefty price tag and a financed extended warranty can cure almost any supply chain headache.
Reference
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APA
Lars Eriksen. (2026, February 13). Automotive Retail Industry Statistics. Gitnux. https://gitnux.org/automotive-retail-industry-statistics
MLA
Lars Eriksen. "Automotive Retail Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/automotive-retail-industry-statistics.
Chicago
Lars Eriksen. 2026. "Automotive Retail Industry Statistics." Gitnux. https://gitnux.org/automotive-retail-industry-statistics.
Sources & references
54 datasets cited across this report · attribution is report-level