Employees at New-Car Dealerships are Earning More
Good news for dealership employees: According to the National Automobile Dealers Association (NADA), employee compensation and productivity increased across all dealership positions in 2014.
The median weekly income increased an impressive 5.1% at new-car dealerships in 2014.
“The bottom line is that new-car dealerships offer well-paying jobs with benefits,” said NADA Chief Economist Steven Szakaly. “Jobs at new-car dealerships have continued to outpace average U.S. wages, and are some of the best-paying jobs available.
“This highlights the importance of the retail-auto industry to U.S. job growth, and how critical new-car dealerships have become in their communities across the country in providing high-paying, stable employment opportunities following the recession.”
In addition to higher pay, dealership productivity in 2014 increased a whopping 3.4%, totaling $8,410 per month per employee, according to the 2015 Dealership Workforce Study.
Employee turnover increased by just a small amount, but Szakaly commented on that aspect of the study:
“The high turnover rate of sales consultants can be attributed to two factors,” Szakaly said. “First, this represents many entry-level workers who decided to try sales but then realized they did not like it. Second, automotive retailing is going through major industry changes, which is putting pressure on sales staff earnings.”
Although, employee turnover across all dealership positions increased by 2%, the numbers from the rest of the study showed positive changes and exciting improvements.