ECONOMIC IMPACT - NJ CAR

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THEMAY 2014ECONOMIC IMPACTOF FRANCHISED NEW VEHICLE RETAILERS ON THE NEW JERSEY ECONOMYStudy Sponsored By New Jersey Coalition of Automotive RetailersNJ Car 2014 FINAL.crw2.indd 1 Confidential 2014 report compiled from 2013 data5/5/14 1:17 PM

DEALERSHIP FINANCIAL SUMMARY - 2013Average dealership sales: 59,100,000Average dealership contributions to charitable causes: 25,800Average dealership advertising expenses: 710,000Average number of vehicles serviced per dealership: 21,200DEALERSHIP VEHICLE SALES SUMMARY - 2013Average dealership retail new vehicle sales: 950 unitsAverage dealership retail used vehicle sales: 670 unitsShown above is a summary of average dealership financial statistics and vehicle sales results during 2013.During 2013, franchised new vehicle dealerships in the Stategenerated a total of over 53,000 jobs.Franchised new vehicle dealerships spent over 365 millionon advertising during 2013.New Jersey residents earned nearly 3 billion as a resultof franchised new vehicle dealership operations in 2013, anincrease of 6.1% versus 2012.Franchised new vehicle dealerships in the State had totalsales of 30.43 billion in 2013, a 4.6% increase compared to2012.Average franchised new vehicle dealership payroll was 4.31 million, up from 4.075 million in 2012.Average franchised new vehicle dealership sales were 59.1million in 2013, up from 56.5 million in 2012.Franchised new vehicle dealerships collected or paid a totalof nearly 1.5 billion in State and local taxes in 2013, up4.3% from 2012.Collectively, franchised dealers contributed over 13.3million to charitable organizations in 2013.NJ Car 2014 FINAL.crw1.indd 25/1/14 9:50 PM

A MESSAGE FROM THE NJ CAR PRESIDENTNew Jersey auto sales and the overall economic outlook of the industry continue tomove in a positive direction. Auto sales in New Jersey were up nearly 9% in 2013 andare expected to break 500,000 in 2014 for the first time in seven years. Dealers areselling cars and trucks at an aggressive pace and continue to add good-paying jobs inthe New Jersey auto retail sector.Low interest rates, better access to credit, mild inflation, increasing consumerconfidence and an uptick in personal income growth all combined to keep the autoretail market moving forward in 2013. If jobs growth and overall economic growthcontinue to improve in 2014, as many economists predict, sales should continue toincrease and break the magical half-million threshold.Pent up demand for new vehicles and a dramatically aging vehicle fleet on the roadsare additional factors that should give dealers reason to believe the recovery willcontinue in 2014.The average age of the vehicle fleet is at a historically high level – more than 10 years.More and more consumers will need to purchase a new car or truck out of necessity,as their current vehicles wear out. Others will realize the many technological and fuelefficiency advantages in vehicles made today, compared to their decade-old counterparts, make a new vehicle purchase a wise investment.This report offers hard data on employment, payroll, tax collections and industry salesin New Jersey in 2013 and also provides a bit of historical context, in order to see howthe industry has progressed since the recession of 2007-2008.James B. AppletonPresidentNew Jersey Coalition of Automotive RetailersThis report provides a summary of the significant impactthat franchised new automotive dealers have on theNew Jersey economy. As clearly illustrated, theautomotive retailing industry is critically important tothe health of the State’s economy.This report includes estimates of direct and indirectemployment, personal income, and tax collections during2013. Indirect impact accounts for the residual contributionresulting from dealership operations (frequently referredto as the “multiplier effect”). This report was preparedby Auto Outlook, Inc., an independent automotive marketanalysis firm, and is sponsored by the New JerseyCoalition of Automotive Retailers.Contact information is on the back page.NJ Car 2014 FINAL.crw1.indd 35/1/14 9:50 PM

EMPLOYMENTEMPLOYMENT TOTAL FOR NEW VEHICLE RETAILING INDUSTRY - 2013(DIRECT: AT DEALERSHIPS; INDIRECT: ELSEWHERE IN ECONOMY)Contribution to Statewide Retail Employment byFranchised New Vehicle Dealerships - 2011 thru 2013Indirect18,978Direct34,505201120122013% change ‘12to ‘13Total Employment Resultingfrom Auto Dealership53,64954,28153,483-1.5%Total Retail Employment inthe State440,000443,000448,0001.1%DEALERSHIP % OF RETAILSTATEWIDE TOTAL12.2%12.3%11.9%Franchised new automotivedealerships in New Jersey employeda total of 34,505 individuals in 2013,with an additional 18,978 positionsresulting from indirect economicimpact. This total represented 11.9%of total retail employment in theState. Dealership employment (directonly) decreased slightly from 2012to 2013, although employee salariesincreased by an average of 5.8%.Average dealership employment was67 individuals.AVERAGE NUMBER OF DEALERSHIPEMPLOYEES BY DEPARTMENT - 2013# OF EMPLOYEES2520151050SERVICENJ Car 2014 FINAL.crw1.indd 4VEHICLESALESADMIN& OTHERPARTS &ACCESSORIESBODYSHOP5/1/14 9:50 PM

PAYROLLThe average franchised new vehicledealership in New Jersey had payroll of 4,310,000 in 2013, up 5.8% from 2012.Payroll for the new vehicle retailing industrywas nearly 2.2 billion, with the total(including indirect impact) approaching 3 billion.EMPLOYEE COMPENSATION - 2011 THRU 2013Total Payroll (including fringe benefits)For Average Franchised New Vehicle Dealership in New Jersey201120122013% change ‘12to ‘13 3,950,000 4,075,000 4,310,0005.8%5155150.0% 2,098,625,000 2,219,650,0005.8% 650,573,750 696,970,1007.1% 2,749,198,750 2,916,620,1006.1%TIMESTotal Number of Franchised New VehicleDealerships in New Jersey509EQUALSTotal Employee Compensation at Franchised New Vehicle Dealerships 2,010,550,000PLUSAdditional Indirect Employee CompensationResulting from Franchised New Vehicle Dealership Operations 603,165,000EQUALSTOTAL EMPLOYEE COMPENSATIONTO NEW JERSEY RESIDENTS DUE TO NEW VEHICLERETAILING INDUSTRYNJ Car 2014 FINAL.crw1.indd 5 2,613,715,0005/1/14 9:50 PM

TAX REVENUEState and Local Taxes Collected and/or Paid by Franchised New Vehicle Dealerships - 2011 thru 20132011State Sales TaxState and Local Payroll TaxesReal Estate and Other Local TaxesTOTAL DEALERSHIP STATE ANDLOCAL TAX REVENUE 1,157,975,000 111,980,000 73,805,000 1,343,760,00020122013 1,236,000,000 115,875,000 77,250,000 1,429,125,000 1,287,500,000 121,025,000 82,400,000 1,490,925,000% change‘12 to ‘134.2%4.4%6.7%4.3%Federal Tax Summary for All Franchised New Vehicle Dealerships - 2011 thru 20132011Federal PayrollFederal Business Income TaxesTOTAL 547,175,000 42,756,000 589,931,00020122013 566,500,000 46,350,000 612,850,000 602,550,000 47,380,000 649,930,000% change‘12 to ‘136.4%2.2%6.1%STATE AND LOCAL TAXES COLLECTED AND/OR PAID BY FRANCHISED NEWVEHICLE DEALERSHIPS - 2013State and Local Payroll, 121,025,0000Real Estate and Other Local,R 82,400,000Franchised new vehicledealerships collected or paidalmost 1.5 billion in State andlocal taxes during 2013,up 4.3% from 2012.State Sales Tax revenueexceeded 1.28 billion.Federal tax revenue generatedby franchised new vhicleState Sales, 1,287,500,000dealerships was 650 million.NJ Car 2014 FINAL.crw1.indd 65/1/14 9:50 PM

ADVERTISINGPERCENTAGE OF FRANCHISED NEW VEHICLEDEALERSHIP ADVERTISING EXPENSE BY MEDIA - 2013Other99%Paper17%Franchised new vehicle dealershipsRadio5%advertising during 2013, up slightlyfrom 2012. Internet advertisingTv18%accounted for theMail14%largest percentage of dealershipInternet37%NJ Car 2014 FINAL.crw1.indd 7spent more than 365 million onadvertising (37%).5/1/14 9:50 PM

NEW VEHICLE MARKET REVIEWNEW RETAIL LIGHT VEHICLE REGISTRATIONS IN NEW JERSEY - 2002 THRU 220032004200520062007200820092010201120122013New retail registrations of cars and lighttrucks in New Jersey exceeded 500,000 unitsfrom 2000 thru 2005. Registrations declinedto a 20-year low in 2009. The market recoverybegan in 2010, with registrations increasingto 400,000, a 12% improvement from 2009.Last year’s total was 487,295, up 9.2%from 2012.Data Source: PolkNJ Car 2014 FINAL.crw1.indd 85/1/14 9:50 PM

DEALERSHIP SALESFranchised new vehicle dealerships inNew Jersey had total sales exceeding 30 billion during 2013.Average dealership sales were 59.1million, with the new vehicle departmentaccounting for 59% of the total. Averagedealership sales increased by nearly 5%from 2012 to 2013.AVERAGE FRANCHISED NEW VEHICLE DEALERSHIP SALES BY DEPARTMENT [ OTHER05101520253035SALES ( MILL)Franchised New Vehicle Dealership Sales Summary - 2011 thru 20132011Average franchised new vehicle dealership salesTOTAL AUTOMOTIVE RETAILING SALES IN NJNJ Car 2014 FINAL.crw1.indd 9 53,900,000 27,435,100,0002012 56,500,000 29,097,500,0002013 59,100,000 30,436,500,000% change‘12 to ‘134.6%4.6%5/1/14 9:50 PM

NJ CAR MEMBER LISTDistrict 1Action HyundaiAvalon HondaBurke Motors, Inc.Gentilini ChevroletGentilini Ford, Inc.Kindle Ford Lincoln IsuzuLilliston Chrysler Dodge JeepLilliston Ford, Inc.Perry-Egan Chevrolet, Inc.RK Chevrolet, Inc.Rossi HondaTeam NissanToyota Scion of VinelandVann Dodge Chrysler JeepDistrict 2Admiral Infiniti VolvoAdmiral Nissan, Inc.Atlantic Chrysler Jeep Audi VWBennett Chevrolet, Inc.BMW of Atlantic CityBoardwalk AcuraBoardwalk HondaChapman Ford Lincoln MazdaKerbeck Cadillac ChevroletBuick GMCKerbeck Mitsubishi SubaruLexus of Atlantic CityMatt Blatt Kia-Egg Harbor Twp.Mercedes-Benz Porsche ofAtlantic CityShore ToyotaSport Hyundai DodgeVolkswagen of Salem CountyCherry Hill MitsubishiCherry Hill NissanCherry Hill VolvoEchelon Ford, Inc.Elite AcuraFiat of Maple ShadeHolman Ford Lincoln-Maple ShadeHolman InfinitiLand Rover Cherry HillMall Chevrolet, Inc.Maple Shade MazdaMercedes-Benz of Cherry HillSubaru of Cherry HillWinner FordDistrict 7Barlow ChevroletBMW of Mount LaurelBurlington Chevrolet, Inc.Burlington KiaBurlington VolkswagenDavis HondaDodge Chrysler CityF. C. Kerbeck & SonsHolman CadillacHolman Toyota ScionLexus of Cherry HillLiberty Toyota ScionLucas FordMini of Mount LaurelDistrict 8Bay Shore Ford of Pennsville, Inc.Bob Novick Chevrolet, Inc.Freightliner of BridgeportLiberty Kenworth of South JerseyPellegrino Chrysler JeepPointe Buick GMCSpirit Chrysler Dodge JeepWorld Volkswagen of Toms RiverArena Buick GMCBurns Buick GMCBurns HondaBurns HyundaiBurns-Kull Automotive GroupClassic Cars NissanElkins ChevroletHainesport Auto & Truck CenterJMK FiatLucas ChevroletLucas Chrysler Jeep DodgeMedford FordMiller Ford LincolnDistrict 4District 9Audi TurnersvilleHolman Ford Lincoln-TurnersvilleNissan of TurnersvillePellegrino Buick GMCPrestige Volkswagen MitsubishiSubaruToyota of TurnersvilleTurnersville Auto MallTurnersville KiaTurnersville MazdaAcura of OceanBarlow Buick GMC-ManahawkinCauseway Ford LincolnCauseway HondaCauseway NissanGold Coast Automotive, LLCLand Rover MonmouthLester Glenn FordLester Glenn Hyundai-ManahawkinManahawkin Chrysler DodgeManahawkin KiaMini of MonmouthRay Catena Lexus of MonmouthRay Catena MaseratiSea Coast ChevroletDistrict 3District 5Ace FordBarlow Buick GMC-WoodburyMount Ephraim Chrysler DodgeRamPellegrino ChevroletPerformance Dodge RamToyota Scion of RunnemedeWoodbury Nissan, Inc.District 6Bergey’s Truck Center-PennsaukenCherry Hill Classic CarsCherry Hill Dodge Chrysler JeepCherry Hill ImportsCherry Hill KiaNJ Car 2014 FINAL.crw1.indd 10District 10Circle Dodge, Inc.Downs FordGateway Toyota ScionHonda of Toms RiverLester Glenn Auto GroupLester Glenn Buick GMCLester Glenn ChevroletLester Glenn Chrysler Jeep DodgeRamLester Glenn Hyundai-Toms RiverLester Glenn MazdaLester Glenn SubaruPine Belt AutomotivePine Belt Cadillac of Toms RiverToms River KiaWeisleder Ford MazdaDistrict 11Buhler FordBuhler MitsubishiCircle BMWCircle Chevrolet CompanyCircle InfinitiDCH BMW of FreeholdDCH Freehold NissanDCH Freehold ToyotaDCH Kay HondaFreehold Buick GMCFreehold Chrysler JeepFreehold Dodge, Inc.Freehold FordFreehold HyundaiFreehold KiaFreehold SubaruGalaxy ToyotaGeorge Wall Ford LincolnHonda of FreeholdIrwin Lincoln MazdaMaurice Schwartz & Sons, Inc.Mercedes-Benz of FreeholdNissan World of Red BankPine Belt Chevrolet of FreeholdRay Catena Lexus of FreeholdRed Bank Volvo, Inc.Sansone Jr’s 66 Auto MallSchneider & Nelson AudiSchneider & Nelson Motor CarsSea View Auto Corp.Volkswagen of FreeholdWorld Jeep Chrysler Dodge RamWorld SubaruWorld VolkswagenDistrict 12All American Ford Subaru ofOld BridgeDCH Academy HondaHunter Jersey Peterbilt-ClarksburgOasis ChevroletShrewsbury MotorsDistrict 13All American Chevrolet, Inc.Buhler Chrysler Jeep DodgeContemporary Motor Cars, Inc.Pine Belt of KeyportStraub Motors, Inc.Tom’s FordWerner’s Automotive, Inc.District 14Bergey’s Truck Center-HamiltonDavis MitsubishiHaldeman Ford of HightstownHaldeman NissanHamilton HondaHamilton Mazda Volkswagen, Inc.Perrine Buick GMCPrinceton BMWWindsor NissanDistrict 15Coleman Auto Group, Inc.Coleman Buick GMC CadillacDavis HyundaiGreenfield Dodge Chrysler JeepHaldeman FordLawrence LexusLawrenceville Ford LincolnMercedes-Benz of PrincetonPorsche of PrincetonPrecision AcuraPrinceton Chevrolet, Inc.Sports & Specialist Cars, Inc.Team Toyota of PrincetonVolvo of PrincetonDistrict 16Acme NissanAction Hyundai Mazda of FlemingtonBaker Chrysler Jeep Dodge, Inc.Brad Benson HyundaiBridgewater NissanBridgewater VolvoDayton ToyotaDitschman FlemingtonFord LincolnFiat of SomervilleFlemington BMWFlemington Buick ChevroletGMC CadillacFlemington Dodge Chrysler JeepFlemington InfinitiFlemington NissanFlemington Porsche Audi VWFlemington SubaruFred Beans Kia of FlemingtonFred Beans Toyota of FlemingtonFullerton Chrysler Jeep DodgeFullerton FordGabrielli Kenworth of NJHonda of PrincetonLand Rover PrincetonMercedes-Benz of FlemingtonOpen Road Volkswagen ofBridgewaterPaul Miller Volkswagen ofBernardsvillePrinceton AudiPrinceton MiniPrinceton VolkswagenDistrict 17DCH Brunswick ToyotaGateway Kia of North BrunswickMalouf Buick-GMC, Inc.Malouf Chevrolet-Cadillac, Inc.Malouf Ford-Lincoln, Inc.Raritan Valley Truck SalesVictory Subaru LLCDistrict 18Bell AudiBentley EdisonCambria MackCampbell FreightlinersEdison NissanFerrari Maserati of Central NJHK Truck Services, Inc.Lexus of EdisonOpen Road BMW of EdisonOpen Road HondaOpen Road MazdaRay Catena InfinitiRay Catena Jaguar of EdisonRay Catena Motor CarReydel Volkswagen, Inc.5/1/14 9:50 PM

Route 18 Chrysler JeepDodge RamRyan’s Open Road AcuraSmart Center EdisonVolvo of EdisonDistrict 19Bell FordMcGuire CadillacMiller Buick GMC Corp.Richard Lucas ChevroletRoute 1 Mazda-WoodbridgeRoute 1 ToyotaSansone Chrysler Jeep DodgeSansone Hyundai, Inc.Sansone KiaSansone NissanDistrict 20Cambria Mack Trucks, Inc.Linden VolkswagenMaplecrest of UnionMaxon Hyundai MazdaMulti ChevroletMulti SubaruPlanet HondaRay Catena of UnionRoute 22 HondaRoute 22 KiaRoute 22 NissanRoute 22 ToyotaUnion GMC BuickUnion VolkswagenDistrict 21Autoland Chrysler JeepDodge, Inc.Crown Cadillac, Inc.DMT Automotive Enterprises, Inc.Douglas InfinitiDouglas VolkswagenHFI Truck CenterJMK BMWLiccardi Ford, Inc.Nissan World of SpringfieldSalerno-Duane, Inc.Smythe Volvo, Inc.Springfield AcuraSpringfield Truck Center, Inc.Team Welsh Jeep ChryslerDistrict 22Bell MitsubishiCrystal MotorsGlobal Auto MallGreen Brook Buick GMCLiccardi Chrysler DodgeMid Atlantic Truck CenterNorth Plainfield NissanVIP HondaDistrict 23Autosport HondaBill Vince’s Bridgewater AcuraBMW of BridgewaterCallaremi Cadillac Buick GMCClinton AcuraClinton HondaHackettstown HyundaiJohnson Dodge ChryslerKemper KiaLexus of BridgewaterMotion KiaMuller Toyota, Inc.Opdyke’s Sales & ServiceOpen Road Auto GroupOpen Road of BridgewaterPhillipsburg Easton Honda, Inc.Phillipsburg Easton HyundaiRay Catena Infiniti of BridgewaterNJ Car 2014 FINAL.crw1.indd 11Rossi Chevrolet Buick GMCRoyal ChevroletSmith Motor Company, Inc.Subaru 46District 24Audi NewtonFranklin Sussex Auto Mall, Inc.Franklin Sussex HyundaiHackettstown HondaHoover Truck CenterIntercar Mercedes-BenzLynnes Nissan WestMagarino FordMcGuire Chevrolet CadillacNew York Bus Sales, LLCNewton KiaOpen Road of NewtonRoute 46 ChevroletRoyal Buick GMC, Inc.Subaru World of NewtonSussex HondaToyota World of NewtonVolkswagen of NewtonDistrict 25Acura of DenvilleAudi of BernardsvilleAudi of MendhamAyers ChevroletBeyer Chrysler Jeep Dodge RamBeyer FordBMW of MorristownBMW of RoxburyDalessio Chevrolet BuickDover Dodge Chrysler Jeep, Inc.Family Ford, Inc.Fiat of Morris CountyGateway Kia of DenvilleGearhart ChevroletH & H MackJim Salerno Buick GMCJohn Johnson DodgeJoyce HondaMaplecrest Ford Inc.Mercedes-Benz of MorristownMini of MorristownNissan World of DenvilleOpen Road Mazda of MorristownPerformance Ford LincolnSalerno Duane InfinitiSubaru of MorristownTowne HyundaiTowne ToyotaToyota of Morristown, Inc.Trend MotorsLexus of Route 10Madison HondaMadison JaguarNielsen Chrysler Jeep Dodge RamNorman Gale Buick GMCPrestige VolvoRoyal Cadillac Corp.Wigder Chevrolet, Inc.District 28DCH BMW of BloomfieldLynnes HyundaiLynnes NissanLynnes SubaruNutley KiaDistrict 30Coast HondaColonial Auto Mall, Inc.Garden State VolvoGlobal Truck CenterHonda UniverseJim Curley Buick GMCJim Curley KiaLarson Ford, Inc.Pine Belt Chevrolet of LakewoodPine Belt Chrysler JeepPine Belt SubaruSea Breeze FordT & T Coast Buick GMCToyota Scion World of LakewoodDistrict 31Chevrolet of Jersey CityHudson Chrysler Jeep DodgeHudson HyundaiHudson KiaHudson NissanHudson SubaruHudson ToyotaJersey City FordMetro HondaDistrict 32Audi MeadowlandsBeyer Bros. Corp.Hudson County MotorsHudson HondaMcGuire Buick GMCMeadowland Ford Truck SalesDistrict 34Crane ChevroletFette Ford, Inc.Fette InfinitiGarden State Honda-CliftonGensinger Motors, Inc.District 26District 35Bentley ParsippanyCaldwell ToyotaDCH Montclair AcuraDeCozen Chrysler Jeep DodgeGlobe Motor Car CompanyKonner Chevrolet, Inc.Land Rover ParsippanyPaul Miller AudiPaul Miller Honda of WestCaldwellPaul Miller PorschePaul Miller SubaruPrecision Chrysler Jeep DodgeRamRoute 23 Auto MallVerner-Cadby, Inc.46 MitsubishiBrogan Cadillac CompanyNissan 46District 27DCH Millburn AudiEd Carney Ford, Inc.Hilltop Nissan, Inc.District 36Bellavia Chevrolet BuickEast Coast Toyota ScionFrank’s Truck Center, Inc.Garden State Honda-PassaicMTC KenworthQuality Auto MallScheeler Trucks Sales & ServiceTeterboro Chrysler JeepThree County Volkswagen Corp.District 37All American Ford, Inc.Benzel-Busch Motor Car Corp.BMW of TenaflyD & C Honda of TenaflyEast Coast Automotive, Inc.Englewood Auto GroupEnglewood Cliffs CadillacEnglewood VolvoFord of Englewood, Inc.Infiniti of EnglewoodLexus of EnglewoodParamus NissanParkway ToyotaTenafly KiaTown MotorsToyota of HackensackDistrict 38All American Ford LincolnChrysler Jeep Dodge of ParamusDCH Paramus HondaElite Nissan of BergenfieldGlen ToyotaHawthorne ChevroletJack Daniels AudiJack Daniels KiaJack Daniels VolkswagenKundert VolvoLand Rover ParamusMazda of LodiMeadowlands NissanNissan of HawthorneNorth Jersey Truck CenterParamus Auto MallParamus HyundaiParamus MitsubishiPark Avenue AcuraPark Avenue BMWPaul’s Motors Sales & ServicePrestige Motors Corp.Route 4 AutoDistrict 39Acura of RamseyBuick GMC of MahwahCadillac of MahwahEmporio Motor GroupJack Daniels Audi-Upper SaddleRiverJack Daniels PorscheJoe Heidt MotorsLiberty HyundaiLiberty Subaru Inc.Mahwah Ford Sales & Service, Inc.Mahwah HondaMaserati of Bergen CountyPrestige BMWPrestige LexusPrestige MiniPrestige ToyotaRamsey Chrysler Jeep DodgeRamsey FiatRamsey InfinitiRamsey MazdaRamsey NissanRamsey SaabRamsey SubaruRamsey VolvoDistrict 40Bob Ciasulli Auto GroupCrestmont Toyota VolkswagenMaroon KiaMcGuire Buick GMCOpen Road Acura of WaynePaul Miller BMWRoute 23 HondaRoute 46 Chrysler Jeep DodgeSchumacher Chevrolet, Inc.Tri-County LexusWayne FordWayne Mazda HyundaiWayne Motors, Inc.Wayne Subaru, Inc.5/1/14 9:50 PM

METHODOLOGYDealership financial data (and other information citedin this report) was collected from information reportedby New Jersey franchised automotive retailers in 2013.The information was sufficiently detailed to allow theformation of a statistically reliable database for financialand operational indicators.The economic impact of the franchised automotive retailindustry is separated into two main categories: directand indirect. Direct impact comprises economic activityat automotive dealerships themselves. Indirect impactoccurs away from the dealership proper, and takes intoaccount the extended contribution dealerships make to theState’s economy.The indirect economic impact of franchised automotiveretailers was estimated by Auto Outlook, Inc. Estimateswere based on previous impact studies that relied uponregional economic computer models. Indirect estimates inthis report are intentionally conservative, and therefore,may underestimate the overall contribution franchisedautomotive retailers make to the New Jersey economy.Auto Outlook, Inc. is a regional automotive market analysisfirm providing market research services to automotivedealers.STUDY SPONSORED BY:STUDY PRODUCED BY:New Jersey Coalition of Automotive Retailers856 River RoadP.O. Box 7510Trenton, NJ 08628(609) 883-5056Auto Outlook, Inc.P.O. Box 390Exton, PA 19341(610) 640-1233NJ Car 2014 FINAL.crw1.indd 125/1/14 9:50 PM

New Jersey auto sales and the overall economic outlook of the industry continue to move in a positive direction. Auto sales in New Jersey were up nearly 9% in 2013 and . Burlington Chevrolet, Inc. Burlington Kia Burlington Volkswagen Davis Honda Dodge Chrysler City F.

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