Tennessee dealers are an economic driver of the state economy. Nearly 350 new car dealerships in the state employ over 50,000 Tennesseans with pay over $2B in annual salaries and wages.
Key Facts:
- Over 3,000 independent dealers.
- Over 13,080 licensed salespeople.
- This represents more than 5% of the total retail workforce in Tennessee.
- This 5% earn approximately 10% of the total retail wages paid in Tennessee.
- Sales of motor vehicles are the largest single source of Tennessee sales tax revenues (approx. 12% of the total).
- Average sales per franchised dealer in Tennessee = $29.4 million.
- Average annual payroll per franchised dealership = $2.46 million.
- Tennessee dealers generate hundreds of millions of dollars of tax revenue for state and local governments through sales & use taxes, F&E taxes, and Tennessee Business Taxes.
- Tennessee dealers also generate tremendous economic stimulus through their purchases of advertising, goods and services, etc.
- Tennessee businesses pay approximately 40% of total sales tax collected.
- Bottom line . . . Tennessee’s economy depends upon our ability to sell cars and trucks in the regional marketplace.