Automotive Dealers See Largest Growth in Sales in 2010
Sageworks, a North Carolina company that analyzes privately-held companies, reported that automotive dealers saw an 18.25 percent increase in sales. The second largest growth was for dentists, who saw their sales jump 7.56 percent (which might be a sign of an improving economy because dental work is something people skip in down times).
Cars.com reports that the auto industry comprised 3.6 percent of the U.S. economy in 2009, or $500 billion of U.S. economic output.
According to a USA Today article, even with the improvement late in the year, 2009 industry sales fell 21.2%, to 10.4 million, compared with 2008 as the recession took its toll, according to Autodata. Sales for 2010 are expected to exceed 12 million.