NEW YORK AUTO DEALERS RELEASE 2024 ECONOMIC IMPACT REPORT

NEW YORK, Dec. 6, 2024 /PRNewswire/ — The Greater New York Automobile Dealers Association (GNYADA) has released its 2024 Economic Impact Report, highlighting the significant and often overlooked contributions of Metro New York’s franchised new car and truck dealerships to the region’s economy. The report underscores the vital role these dealerships play in creating jobs, generating tax revenue, and supporting local communities through charitable giving.

“Metro New York‘s auto dealers are more than car dealers; they are an integral part of the communities they serve, supporting local economies, creating jobs, and making meaningful contributions to a wide range of charitable causes,” said Mark Schienberg, President of GNYADA. “Their impact extends far beyond the showroom, touching countless lives across the region.”

Economic Highlights

Job Creation: Local franchised dealerships in Metro New York support 67,300 jobs, comprising 37,200 direct employees and 30,100 indirect employees.
Payroll: These employees collectively earn $6.3 billion annually.
Tax Revenue: Dealers contribute $2.9 billion in state and local taxes, fueling essential public services.
Economic Activity: Total economic impact from franchised new car and truck dealerships reaches $67.6 billion, underscoring the industry’s critical role in Metro New York’s economy.

For further details on the contributions and impact of local dealerships in the Metro New York area, please visit www.gnyada.com.

ABOUT GNYADA

Headquartered in Whitestone, N.Y, the Greater New York Automobile Dealers Association represents 445 franchised automobile dealerships in the metro area of New York, generating $67.6 billion in new vehicle sales, $2.9 billion in taxes and supporting 67,000+ New Yorkers. The $30m Center for Automotive Education & Training was built in 2015. The Association was established in 1910 and has continued to serve the needs of the industry ever since. GNYADA organizes the New York International Automobile Show – the largest auto show in North America – each spring, in Manhattan’s Jacob Javits Convention Center.

www.gnyada.com