Recently, we sponsored an in-depth analysis of the economic impact of New Hampshire motor vehicle businesses on the state’s economy. The surveying and report was conducted by Auto Outlook Inc., an independent automotive market analysis firm trusted by many other automotive trade associations. Please see the initial findings highlighting data from our industry below. The full report, including data representing vehicle registrations, employment and payroll, and charitable giving, can be found at the end of this article.
Thank you to everyone who participated in the survey. Your input has been invaluable in demonstrating the vital role the motor vehicle industry plays in our state. Our association will use this report to support our advocacy efforts during the upcoming legislative session and in future initiatives.
This report provides an in-depth analysis of the economic impact of New Hampshire motor vehicle businesses on the State’s economy. It includes estimates of employment, personal income, tax collections, and dealership financial statistics and operations. This report was prepared by Auto Outlook, Inc., an independent automotive market analysis firm, and was sponsored by the New Hampshire Automobile Dealers Association. The report was compiled based on data collected from Experian Automotive, Auto Outlook, New Hampshire’s motor vehicle businesses, as well as government sources.
The motor vehicle industry continues to be a significant driver in New Hampshire’s economy. Made up of over 2,000 businesses, our industry employs over 20,000 people. Highlighting the fact that the industry is full of good-paying, local jobs that can’t be outsourced, total compensation earned by those who work in New Hampshire’s motor vehicle industry was more than $1.7 billion in 2023.
State and local tax revenue generated by New Hampshire’s neighborhood new car dealerships approached $70 million. New Hampshire new car dealerships also invested more than $41 million in capital expenditures on facilities and the industry as a whole donated an estimated $18.2 million to charitable and civic organizations.
Accounting for an estimated 24% of retail sales in New Hampshire, the industry represents a significant portion of our local economy. During the COVID-19 pandemic, our members were deemed essential businesses; providing a means of transportation and carrying out vehicle inspections and repairs to keep New Hampshire’s roadways safe.
This report highlights the positive economic benefits that New Hampshire’s motor vehicle businesses bring to the state, as well as the hundreds of cities and towns they call home.
