2022

ANNUAL FINANCIAL PROFILE OF AMERICA’S FRANCHISED NEW-CAR DEALERSHIPS

NATIONAL
AUTOMOBILE
DEALERS
ASSOCIATION
Overview
The NADA Data financial profile of new-car dealerships is now published twice a year—as a full
annual review at year-end and as a midyear update.
This 2022 full-year review features the many major milestones achieved by the retail auto industry
during the first half of 2022, including such highlights as:
• The nation’s 16,773 franchised light-vehicle dealers sold 13.7 million light-duty vehicles.
• Total light-vehicle dealership sales topped $1.2 trillion.
• Dealerships wrote more than 265 million repair orders, with service and parts sales totaling
more than $137 billion.
The 13.7 million new light-vehicles sold represented a decline of 8% compared with 2021 and the
lowest full-year sales total since 2012. Despite the low volume, the average franchised dealership had
a strong year. Sales for the average dealership totaled $71.8 million, an increase of 1.2% compared
Patrick Manzi with 2021.
Chief Economist, NADA
New light-vehicle inventory was the big story for the industry in 2022. At the beginning of the year, new
light-vehicle inventory—which was near a historic low of 1.1 million units—remained constrained
through much of 2022. But the OEMs were able to increase production in the second half of the year
and end 2022 with 1.7 million new light vehicles on the ground and in transit. The microchip shortage
will still impact vehicle production in 2023, but not nearly as much as in 2021 and 2022. We expect
inventory to continue building slowly throughout 2023 and reach nearly 2.2 million units by year-end.
The shift to electric vehicles also has been a big focus, and 2022 was the best year yet for sales of
battery electric vehicles (BEVs). Sales of new BEVs reached nearly 739,000 units in 2022, up 61%
compared with 2021. Franchised dealers also captured a larger share of the BEV pie in 2022, with
their BEV sales totaling almost 260,000 units—the best BEV sales year to date for their dealerships.
At the end of 2022, franchised dealerships captured 35% of the new BEV market, and we expect this to
continue as more BEV models are released by the legacy OEMs in the coming years.
To improve the breadth of information provided in NADA Data, we offer a section focusing on the new-
and used-vehicle consumer, with in-depth data from Experian. These stats include average monthly
payment, average loan term, percentage of vehicles leased and more.
Note: NADA Data was first published in 1979, and some of the methodology and data sources have naturally changed along the way.
Therefore, previous reports may not be directly comparable with the current version.

CONTENTS
New Light-Vehicle Dealerships . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Dealership Financial Trends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
New Light-Vehicle Department . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Used-Vehicle Department. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Service and Parts Department . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Body Shop Department. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Dealership Advertising. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Employment and Payroll. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
New- and Used-Vehicle Consumer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

NADA DATA 2022 | nada.org

New Light-Vehicle Dealerships
New Light-Vehicle Dealerships by State, 2022
Alabama 277 Nebraska 156

Alaska 27 Nevada 100

Arizona 248 New Hampshire 131

1,303
Arkansas 211 New Jersey 455

California 1,303 New Mexico 112

Colorado 253 New York 858 CALIFORNIA

Highest number of
new light-vehicle dealerships
Connecticut 251 North Carolina 573

Delaware 54 North Dakota 72

Florida 906 Ohio 717

Georgia 487 Oklahoma 252

Hawaii 68 Oregon 219

Idaho 102 Pennsylvania 862

27
Illinois 700 Rhode Island 52

Indiana 399 South Carolina 255

Iowa 269 South Dakota 83 ALASKA

Lowest number of
Kansas 205 Tennessee 343 new light-vehicle dealerships

Kentucky 232 Texas 1,239

Louisiana 282 Utah 141

Maine 110 Vermont 77

16,773
Maryland 307 Virginia 455

Massachusetts 386 Washington 308

Michigan 616 West Virginia 132

Minnesota 336 Wisconsin 465 TOTAL NEW-CAR DEALERSHIPS

Mississippi 177 Wyoming 47

Missouri 370
Total U.S. 16,773
Montana 93
Source: NADA

NADA DATA 2022 | nada.org 2

New Light-Vehicle Dealerships (continued)
Share of Owners by Number of Dealerships Operated, by Year

Number of dealerships 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

1-5 95.5% 95.0% 94.8% 94.4% 94.2% 93.9% 93.8% 93.5% 93.0% 92.4%
6-10 3.2% 3.4% 3.5% 3.8% 4.0% 4.1% 4.2% 4.3% 4.5% 4.9%

11-25 1.1% 1.4% 1.5% 1.5% 1.6% 1.6% 1.7% 1.7% 2.0% 2.2%

26-50 0.1% 0.1% 0.1% 0.1% 0.1% 0.2% 0.3% 0.3% 0.3% 0.4%
Greater than 50 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.2% 0.2%

Source: NADA

Share of Dealerships by Volume of New-Unit Sales, 2022

Percent of dealerships
25%

20.9%

20%
18.4% 18.1%
16.7%
15.5%
15%

10.4%
10%

5%

0%
1-149 150-299 300-499 500-749 750-1,499 1,500+
Source: NADA

NADA DATA 2022 | nada.org 3

Dealership Financial Trends
Total Sales by State, 2022
All Average per All Average per
State dealerships dealership State dealerships dealership
($ millions) ($ thousands) ($ millions) ($ thousands)
Alabama $16,128 $58,224 Nebraska $6,419 $41,146
Alaska $2,042 $75,623 Nevada $10,925 $109,245
Arizona $29,090 $117,296 New Hampshire $7,965 $60,799
Arkansas $8,582 $40,674 New Jersey $39,478 $86,766
California $142,596 $109,437 New Mexico $6,305 $56,292
Colorado $21,184 $83,730 New York $68,225 $79,516
Connecticut $11,954 $47,627 North Carolina $34,283 $59,830
Delaware $3,665 $67,865 North Dakota $2,807 $38,981
Florida $105,293 $116,217 Ohio $41,863 $58,387
Georgia $36,902 $75,774 Oklahoma $33,880 $134,443
Hawaii $5,928 $87,180 Oregon $13,426 $61,308
Idaho $5,713 $56,007 Pennsylvania $46,313 $53,727
Illinois $41,216 $58,880 Rhode Island $3,776 $72,618
Indiana $19,373 $48,554 South Carolina $17,169 $67,331
Iowa $9,865 $36,674 South Dakota $2,951 $35,551
Kansas $7,846 $38,272 Tennessee $20,877 $60,867
Kentucky $11,281 $48,626 Texas $115,598 $93,300
Louisiana $16,471 $58,408 Utah $11,870 $84,183
Maine $5,305 $48,223 Vermont $3,149 $40,891
Maryland $22,048 $71,817 Virginia $26,954 $59,239
Massachusetts $24,541 $63,577 Washington $22,430 $72,826
Michigan $43,044 $69,876 West Virginia $6,607 $50,054
Minnesota $17,390 $51,757 Wisconsin $17,388 $37,393
Mississippi $8,175 $46,185 Wyoming $1,773 $37,723
Missouri $22,484 $60,767
Total U.S. $1,205,363 $71,863
Montana $4,818 $51,805

Source: NADA

NADA DATA 2022 | nada.org 4

Dealership Financial Trends (continued)
Total Sales of New-Vehicle Dealerships, by Year

$1,250 $80
$1,205.36
$1,184.39
75
1,150
■ All dealerships (left scale)
in billions of dollars
$71.86 70
$71.02

$1,025.80 $1,026.82
1,050 65
$1,002.62 $980.25
$995.64

$61.55 60
$938.49 $61.23
$59.59 $59.67
950 $58.97
$56.72 55
■ Average per dealership (right scale)
in millions of dollars

850 50
2015 2016 2017 2018 2019 2020 2021 2022
Source: NADA

Share of Total Dealership Sales Dollars

Service Service
and parts and parts

11.1% 12.0%

36.7% 52.2% 49.7%

Used vehicles New vehicles
38.3% New vehicles
Used vehicles

2021 2022
Source: NADA

NADA DATA 2022 | nada.org 5

Dealership Financial Trends (continued)
New-Vehicle Registrations by State, 2022

In percent of total registrations

1.9
0.3 0.4
0.4 0.2
1.1 0.7
1.4
0.5 0.2 1.4 5.7 2.0
0.1 3.6 0.3
1.0
0.8 3.8
0.5 3.5 3.3
0.9
1.0 3.4 1.6 0.3
1.8 0.5
11.8 2.2 1.8
0.7 1.9 0.9
2.8
1.7
2.4 0.5 2.8 0.7 1.4
1.3 3.1
0.7
9.6 1.4
0.2
8.7
HI
0.5

■ <1.0% ■ 1.0-2.0% ■ 2.1-3.0% ■ 3.1-4.0% ■ 4.1-6.0% ■ 6.1-8.0% ■ 8.1-10.0% ■ >10.0% ■ data not avai

Source: S&P Global

NADA DATA 2022 | nada.org 6

New Light-Vehicle Department
New-Vehicle Inventories and Days’ Supply, by Year
Inventory (in millions) Days’ supply

Total 3.91 3.92

4.0 3.79 80
3.58 3.55
75
3.5 76
74
70 72 70
Domestic
3.0 65 67
2.75
60
2.5 Domestic
55
2.06 2.09 2.09 56
1.91 1.92 1.86 53 54 54 52
2.0 50
Import 50
1.87 1.67 47
1.85 1.84 45
1.68
1.5 1.70 1.12
Import 40
1.41
38
1.0 35
0.92
30
0.5 26
0.66 25 27
0.20 0.26 22
0.0 20
2015 2016 2017 2018 2019 2020 2021 2022 2015 2016 2017 2018 2019 2020 2021 2022
Source: Wards Intelligence, Automotive News Data Center

Average Number of New Vehicles Sold Per Dealership

and Selling Price, by Year domestic
1,411,609
Year New vehicles sold Average retail selling price import

2015 1,051 $33,456 261,077

2016 1,045 $34,449 NEW-CAR INVENTORY

1,672,686
2017 1,020 $34,670

2018 1,028 $35,608

2019 1,026 $36,824

2020 870 $38,961

38 27
2021 895 $42,379
NEW-VEHICLE
2022 819 $46,287 DAYS’ SUPPLY
domestic import
Source: Wards Intelligence, NADA

NADA DATA 2022 | nada.org 7

New Light-Vehicle Department (continued)
New Light-Duty Vehicle Sales, by Year
Total light-duty Light-duty trucks
Year New cars Light-duty trucks
vehicles as % of total

2011 6,089,300 6,644,900 12,734,200 52.2%

2012 7,242,800 7,199,000 14,441,800 49.8%
2013 7,582,500 7,942,300 15,524,800 51.2%
2014 7,688,900 8,748,100 16,437,000 53.2%
2015 7,525,023 9,861,024 17,386,047 56.7%
2016 6,873,158 10,591,862 17,465,020 60.6%
2017 6,079,584 11,055,149 17,134,733 64.5%
2018 5,304,347 11,910,816 17,215,163 69.2%
2019 4,790,846 12,317,310 17,108,156 72.0%
2020 3,408,778 11,055,157 14,463,935 76.4%
2021 3,339,476 11,587,457 14,926,933 77.6%
2022 2,852,012 10,882,191 13,734,203 79.2%

Source: Wards Intelligence, Automotive News Data Center

Average Dealership New-Vehicle Retail Sales per

New-Vehicle Salesperson, by Year
2,852,012
NEW-CAR SALES
120

115
113
112
110 109 109
110
10,882,191
104 104 NEW LIGHT-DUTY
105 TRUCK SALES
102

13,734,203
100
2015 2016 2017 2018 2019 2020 2021 2022

Source: NADA
TOTAL LIGHT-DUTY
VEHICLE SALES

NADA DATA 2022 | nada.org 8

New Light-Vehicle Department (continued)
Market Share by Manufacturer, June YTD
YTD market YTD market
share share change
BMW 2.6% 0.2%
Ford 13.1% 0.9%
General Motors 16.4% 1.7%
Honda 7.2% 2.7%
Hyundai 10.7% 0.8%
Mazda 2.1% 0.1%
Mercedes-Benz 2.5% 0.3%
Nissan 5.3% 1.2%
Stellantis 11.2% 0.6%
Subaru 4.1% 0.1%
Toyota 15.4% 0.3%
VW 4.0% 0.3%
Other* 5.4% 1.1%
*Includes Jaguar/Land Rover, Lucid, Mitsubishi, Rivian, Tesla and Volvo

Source: Wards Intelligence

NADA DATA 2022 | nada.org 9

Used-Vehicle Department
Total Used-Vehicle Sales by Sources of Used Vehicles Retailed by
New-Vehicle Dealerships, by Year New-Vehicle Dealerships, 2022
In millions
14.9 14.7
4.2%
15 14.4 Other
13.7
12.9

12
17.0%
Auction

9
purchase
41.1%
Trade-in on
13.5% new vehicle
Street
6 purchase
24.3%
Trade-in on
used vehicle
3

0 Source: NADA
2018 2019 2020 2021 2022
Source: NADA

Average Retail Selling Price of Used Vehicles Average Dealership Used-Vehicle Retail Sales per
Sold by New-Vehicle Dealerships, by Year Used-Vehicle Salesperson, by Year

In thousands
$32
160 148 146
$30,736 143
134 134 138 137
132
30
120
28
$26,709
80
26

24 40
$22,027
$21,094
22 0
$19,886 $20,586 2015 2016 2017 2018 2019 2020 2021 2022
$19,400 $20,009
20
Source: NADA

18
2015 2016 2017 2018 2019 2020 2021 2022
Source: NADA

NADA DATA 2022 | nada.org 10

Service and Parts Department
Dealerships’ Total Service and Parts Sales, 2022 Dealerships’ Total Service and
Service labor sales (in billions of dollars)
Parts Sales, 2022 (in billions of dollars)
$28 $26.21 Service labor sales

Customer mechanical $26.21

21
Customer body $4.09

14 Warranty $9.58
$9.58 $10.13
Sublet $4.36
$5.43
7 Internal $10.13
$4.09 $4.36

Other $5.43
0
Customer Customer Warranty Sublet Internal Other
mechanical body Total service labor $59.79
Source: NADA

Parts sales (in billions of dollars)

Parts sales
$25 Customer mechanical $22.48
$22.48 $23.08
Customer body $4.14
20
Wholesale $23.08

15 Counter $4.28
$11.98 Warranty $11.98
10 Internal $7.54
$8.27
$7.54
$4.14 $4.28 Other $8.27
5
Total parts $81.78
0
Customer Customer Wholesale Counter Warranty Internal Other Source: NADA

mechanical body
Source: NADA

$8.2 million 257,534 265.8 million

SERVICE AND TECHNICIANS REPAIR ORDERS
PARTS SALES (including body shop) WRITTEN
(per new-vehicle dealership)

NADA DATA 2022 | nada.org 11

Service and Parts Department (continued)
Dealerships’ Total Service and Parts Sales by Year
In billions of dollars
$140
$137.49
$137.49 billion
SERVICE AND PARTS SALES
125 (for all new-vehicle dealerships)
$125.57
$120.73
110 $116.49
$114.15 $111.22
$109.52
95 $100.02

80
2015 2016 2017 2018 2019 2020 2021 2022
Source: NADA

Profile of Dealerships’ Service and Parts Operations, 2022

Average dealership All dealers

Total service and parts sales $8,197,000 $137,488,280,836

Total number of repair orders written 15,848 265,826,272

Total service and parts sales per customer repair order $432

Total service and parts sales per warranty repair order $440

Parts sales per service labor sale $1.61

Number of technicians (including body shop) 15 257,534

Total parts inventory $513,917 $8,619,933,342

Average customer mechanical labor rate $152

Source: NADA

NADA DATA 2022 | nada.org 12

Service and Parts Department (continued)
RO Counts for All Dealerships, 2022
Repair orders (in millions)
150

112.65

100

48.70 45.31
50 38.58

13.51
0
Customer Service Warranty Internal Express
mechanical contract claim service
Source: NADA

Share of New Light-Vehicle Dealerships with Express Service Operations, by Year

Percent with Express Service
60%
50.4% 51.7% 51.9% 51.9%
50.1% 49.8%
42.3% 43.3%
45

30

15

0
2015 2016 2017 2018 2019 2020 2021 2022
Source: NADA

NADA DATA 2022 | nada.org 13

Body Shop Department
Dealerships Operating On-Site Body Shops, by Year Body Shop Repair Order Counts for
All Dealerships, 2022
Percent of total dealership population
40% 39.2%
38.6% 38.3% Repair orders (in millions)
37.4% 37.7%
37.3% 6
35.7% 5
34.9% 4.21
35 4
3
2.13
2
1 0.92
30
0
2015 2016 2017 2018 2019 2020 2021 2022 Customer Claim Internal
Source: NADA Source: NADA

Total Dealership Body Shop Sales, by Year

In billions of dollars
$3

$2.64 $2.61 $2.64 $2.62

$2.39
2 $2.28 $2.37
$2.09

0
2015 2016 2017 2018 2019 2020 2021 2022
Source: NADA

Body Shop Sales per Repair Order, by Year

In dollars
$1,000
$929.93
900
$793.02
800
$741.78 $725.14 $730.46 $719.64
$717.02 $715.92
700
2015 2016 2017 2018 2019 2020 2021 2022
Source: NADA

NADA DATA 2022 | nada.org 14

Dealership Advertising
Total Dealership Advertising Expenditures, by Year
In billions of dollars
$10
$9.82 $9.74
$9.42
$9.25
9
$9.18

$8.57
8 $8.19

$7.48
7

6
2015 2016 2017 2018 2019 2020 2021 2022
Source: NADA

Average Dealership Advertising per New Unit Sold, by Year

In dollars
$750

$718

700

$640
650
$633 $629 $624
$602
$606
$582
600

550
2015 2016 2017 2018 2019 2020 2021 2022
Source: NADA

NADA DATA 2022 | nada.org 15

Dealership Advertising (continued)
Estimated Advertising Expenditures by Medium, 2022
Other
Newspaper
4.5% 2.8%
Radio

7.8%
TV
10.2%
Direct mail
6.5%

68.2%
Internet

Source: NADA

Estimated Advertising Expenses per Dealership, 2022

By media used
Average of
all dealerships $8.57 billion
TOTAL DEALERSHIP
Newspapers $14,391
ADVERTISING EXPENDITURES
Radio $39,730

Television $52,229

Direct mail $33,144

Internet $348,493

Other $23,072

Total $511,059

Total advertising as % of total sales 0.7%

Source: NADA

NADA DATA 2022 | nada.org 16

Employment and Payroll
Number of Dealership Employees by State, 2022

Average Average
Total number, Total number,
State number per State number per
all dealers all dealers
dealership dealership
Alabama 15,004 54 North Carolina 35,218 61
Alaska 1,778 66 North Dakota 3,776 52
Arizona 23,891 96 Ohio 41,155 57
Arkansas 9,260 44 Oklahoma 13,308 53
California 108,791 83 Oregon 13,011 59
Colorado 18,396 73 Pennsylvania 46,111 53
Connecticut 12,533 50 Rhode Island 3,203 62
Delaware 3,708 69 South Carolina 15,823 62
Florida 83,716 92 South Dakota 4,183 50
Georgia 33,874 70 Tennessee 21,688 63
Hawaii 3,995 59 Texas 98,939 80
Idaho 6,390 63 Utah 10,774 76
Illinois 41,788 60 Vermont 2,879 37
Indiana 22,083 55 Virginia 30,155 66
Iowa 12,156 45 Washington 21,118 69
Kansas 9,371 46 West Virginia 6,066 46
Kentucky 12,646 55 Wisconsin 22,751 49
Louisiana 15,432 55 Wyoming 1,993 42
Maine 5,424 49
Maryland 21,742 71 Total U.S. 1,069,633 64
Massachusetts 20,924 54
Source: Bureau of Labor Statistics, NADA
Michigan 34,416 56
Minnesota 19,083 57
Mississippi 8,317 47
Missouri 21,584 58
Montana 3,914 42
Nebraska 7,296 47
Nevada 9,244 92
New Hampshire 6,319 48

64
New Jersey 30,082 66
DEALERSHIP EMPLOYEES

1,069,633
New Mexico 6,314 56
New York 48,234 56 Average per
dealership

NADA DATA 2022 | nada.org 17

Employment and Payroll (continued)
Average Weekly Earnings of New Light-Vehicle Dealership Employees by State, 2022
Alabama $1,621 Indiana $1,505 Nebraska $1,417 South Carolina $1,631

Alaska $1,464 Iowa $1,462 Nevada $1,982 South Dakota $1,367

Arizona $1,778 Kansas $1,420 New Hampshire $2,016 Tennessee $1,727

Arkansas $1,533 Kentucky $1,514 New Jersey $2,016 Texas $1,855

California $2,007 Louisiana $1,555 New Mexico $1,520 Utah $1,595

Colorado $1,737 Maine $1,515 New York $1,801 Vermont $1,537

Connecticut $1,694 Maryland $1,701 North Carolina $1,611 Virginia $1,595

Delaware $1,577 Massachusetts $1,896 North Dakota $1,336 Washington $1,729

Florida $1,896 Michigan $1,630 Ohio $1,575 West Virginia $1,316

Georgia $1,820 Minnesota $1,401 Oklahoma $1,507 Wisconsin $1,290

Hawaii $1,677 Mississippi $1,416 Oregon $1,688 Wyoming $1,327

Idaho $1,540 Missouri $1,475 Pennsylvania $1,471

Total U.S. $1,708
Illinois $1,575 Montana $1,420 Rhode Island $1,552

Source: Bureau of Labor Statistics, NADA

* We are aware that there are differences in methodologies used to calculate wages and earnings both across federal agencies and in our published reports.
These differing methodologies will lead to some discrepancies in the wages and earnings reported here and in other publications. It is not the result of errors.

Estimated Number of Dealership Employees, by Year Dealership Employment by Position, 2022

1,200 80
■ Total of all dealerships (left scale) in thousands
■ Average number per dealership (right scale)
1,129.7 1,132.1 1,133.8 New- and used-car
1,117.9 salespeople
1,100
1,085.2
1,045.3
1,069.6
70 Supervisors
and others
18.5%
69 69 1,058.5
66
68 68
34.7%
64 64 Technicians
63
1,000 60
23.9%
Other service and
parts employees

22.9%
900 50
2015 2016 2017 2018 2019 2020 2021 2022 Source: NADA
Source: Bureau of Labor Statistics, NADA

NADA DATA 2022 | nada.org 18

Employment and Payroll (continued)
Annual Payroll of New-Vehicle Dealerships by State, 2022
Total all Average per Total all Average per Total all Average per
State dealers dealership State dealers dealership State dealers dealership
(billions) (millions) (billions) (millions) (billions) (millions)

Alabama $1.26 $4.57 Indiana $1.73 $4.33 Nebraska $0.54 $3.45

Alaska $0.14 $5.01 Iowa $0.92 $3.44 Nevada $0.95 $9.53

Arizona $2.21 $8.91 Kansas $0.69 $3.38 New Hampshire $0.66 $5.06

Arkansas $0.74 $3.50 Kentucky $1.00 $4.29 New Jersey $3.15 $6.93

California $11.35 $8.71 Louisiana $1.25 $4.43 New Mexico $0.50 $4.45

Colorado $1.66 $6.57 Maine $0.43 $3.88 New York $4.52 $5.27

Connecticut $1.10 $4.40 Maryland $1.92 $6.27 North Carolina $2.95 $5.15

Delaware $0.30 $5.63 Massachusetts $2.06 $5.35 North Dakota $0.26 $3.64

Florida $8.25 $9.11 Michigan $2.92 $4.74 Ohio $3.37 $4.70

Georgia $3.21 $6.58 Minnesota $1.39 $4.14 Oklahoma $1.04 $4.14

Hawaii $0.35 $5.12 Mississippi $0.61 $3.46 Oregon $1.14 $5.21

Idaho $0.51 $5.02 Missouri $1.66 $4.48 Pennsylvania $3.53 $4.09

Illinois $3.42 $4.89 Montana $0.29 $3.11 Rhode Island $0.26 $4.97

South Carolina $1.34 $5.26

Annual Payroll of New-Vehicle Dealerships, by Year South Dakota $0.30 $3.58
$95 $94.99 $6.5 Tennessee $1.95 $5.68
■ Total of all dealerships (left scale)
in billions of dollars Texas $9.54 $7.70
■ Average per dealership (right scale)
85 in millions of dollars $83.20 Utah $0.89 $6.34
5.5 Vermont $0.23 $2.99
$5.66

75 Virginia $2.50 $5.50

$68.80
$68.14
Washington $1.90 $6.16
$66.54 $4.99
$65.28 4.5
$64.86 West Virginia $0.42 $3.15
65 $61.84
$4.12 $4.10 Wisconsin $1.53 $3.28
$3.89 $3.97
$3.88 Wyoming $0.14
$3.74 $2.93
55 3.5
2015 2016 2017 2018 2019 2020 2021 2022 Total U.S. $94.99 $5.66
U.S. Bureau of Labor Statistics, NADA
Source: Bureau of Labor Statistics, NADA

NADA DATA 2022 | nada.org 19

New- and Used-Vehicle Consumer
Average Amount Financed Credit Score Range
■ New ■ Used Category Score range
$45,000
$41,445
$39,834 Superprime 781-850
40,000
Prime 661-780
35,000
Near prime 601-660
30,000 $27,390 $27,768
Subprime 501-600
25,000

20,000 Deep subprime 300-500

15,000
Market Share of New-Vehicle
10,000 Financing by Lender Type
5,000
Q4 2021
0
Q4 2021 Q4 2022
51.6%
Captive
Percentage of Vehicles Leased
■ New ■ Used
35% 29.7%
Bank 13.7%
Credit
30 Union

24.0%
25 0.8% 4.1%
BHPH/Other Finance

20
17.2% Q4 2022
15
11.2% 11.1% 48.4%
10 Captive

5 20.3%
23.7% Credit
Union
0 Bank
Q4 2021 Q4 2022

2.4% 5.2%
Source for all charts on this page: Experian Automotive. For more information, visit experian.com/automotive. BHPH/Other Finance

NADA DATA 2022 | nada.org 20

New- and Used-Vehicle Consumer (continued)
Average Monthly Loan Payment Share of New-Vehicle Loans by Term Length,
in Months
800
$716 ■ Q4 2021 ■ Q4 2022 Q4 2021
$646
$70
600 38.5%
$526 61-72 mos.
$490
$36
400
33.6% 18.0%
73-84 mos. 49-60 mos.

200

1.5% 8.5%
85+ mos. 1-48 mos.

0
New Used Q4 2022
Average Loan Term in Months
72
38.1%
61-72 mos.
■ Q4 2021 ■ Q4 2022
70 69.6
69.4 Q4 2022 32.5% 16.9%
73-84 mos. 49-60 mos.
68.0
68 Q4 2021
67.4

66 1.6% 10.9%
85+ mos. 1-48 mos.

64

62

60
New Used
Source for all charts on this page: Experian Automotive. For more information, visit experian.com/automotive.

NADA DATA 2022 | nada.org 21

New- and Used-Vehicle Consumer (continued)
Average Interest Rate on Vehicle Financing
■ New ■ Used

12

10.3%
10

6.1%
8

8.2%
6

3.9%
4

0
Q4 2021 Q4 2022

New-Vehicle Loans by Risk Segment

0.2% 5.3% 0.3% 5.3%

Deep subprime Subprime Deep subprime Subprime

13.9% 13.2%
28.9% Near prime 29.9% Near prime
Super prime Super prime

51.7% 51.5%
Prime Prime

2021 2022
Source for all charts on this page: Experian Automotive. For more information, visit experian.com/automotive.

NADA DATA 2022 | nada.org 22