NAICS 44111 - New Car Dealers

The NAICS 44111 category, which represents New Car Dealers, is experiencing several significant qualitative trends in 2023. One prominent trend is the continued integration of digital retailing. Consumers increasingly expect an omnichannel experience, with many opting to complete significant portions of the car-buying process online. This includes virtual showrooms, online negotiations, and digital financing options.

Another trend is the growing emphasis on electric vehicles (EVs). With heightened environmental awareness and governmental incentives, dealers are expanding their EV inventory and investing in staff training to better sell and service these vehicles. The shift is also driving investments in charging infrastructure at dealership locations.

Consumers are also placing greater importance on vehicle technology. Features such as advanced driver-assistance systems (ADAS), connectivity, and in-car entertainment options are becoming key differentiators. Dealers are focusing on educating customers about these technologies to enhance the sales process.

Supply chain disruptions remain a challenge, impacting inventory levels and leading to increased emphasis on pre-orders and custom configurations. Dealers are adapting by diversifying their supply chains and offering flexible financing options to cope with these disruptions.

Looking ahead, it is expected that the focus on digital transformation and EVs will continue to accelerate. Dealers will likely further expand their online capabilities and EV-related services. Additionally, as autonomous vehicles become more viable, dealerships will need to adapt to the new sales, service, and customer education requirements that come with this technology.