2012 Economic Impact Survey Results Completed
The second phase of the GLVADA Board-approved three-year Economic Impact Study has recently been completed, with full report findings presented to the Board of Directors when they met on July 10th. Based on the Board’s approval of the survey’s findings, each GLVADA dealer will receive a copy of the full report. As was the case in the 2011 survey, we did not have 100% response. However, according to Auto Outlook, the survey company administering the study, GLVADA’s response rate was one of the best they had ever seen. In addition, Auto Outlook President Jeff Foltz commented, “I have completed hundreds of these studies over the years, and I can honestly say that I have never had a cleaner set of survey data than GLVADA. The 2012 figures are very consistent with 2011 and there are almost no crazy outliers. We can definitely have a lot of confidence in the numbers.”
The survey revealed a $1.9 billion impact on the Lehigh Valley economy. According to the study, GLVADA dealerships had total sales of $1.94 billion in 2012, with the average dealership bringing in $38.7 million. As a group, dealers employed nearly 4,200 people, making automotive the third largest employer in the region. This figure accounts for roughly 10.5% of all local retail jobs. The average dealership holds a $2.89 million payroll, with a total of $217 million paid in salaries in 2012 association wide. This is based upon total unit sales in 2012 of 16,800 vehicles.
All survey information is presented on a collective format, or on a dealer average. All information was collected on a strict confidential basis; not even the surveyor knew the name of the dealers participating. A full press conference where final survey reports will be presented is being planned.