Louisiana New Car & Heavy Truck Dealers Bolster State Economy with $19.1 Billion in Sales in 2022
Download the new car dealers one-pager HERE.
Download the heavy truck dealers one-pager HERE.
BATON ROUGE – The Louisiana Automobile Dealers Association (LADA) is releasing its 2022 economic impact report, which shows Louisiana’s new car and heavy truck dealers generated $19.1 billion in total sales. New car sales alone produced $733 million in sales tax revenue for the state. With these revenues, Louisiana’s new car and heavy truck dealerships supported 36,541 total direct and indirect jobs in 2022, making a significant contribution to the state’s economy.
“With nearly 350 new car and heavy truck dealerships spread across the state, Louisiana’s automobile dealers have proven to be a driving force in our economy,” said LADA President Will Green. “Our industry helps provide choice, access and competition for consumers, along with stable employment opportunities, all of which supports the growth and prosperity of Louisiana.”
On average, each of these dealerships employs 55 Louisianians earning nearly $80,000 per year in communities throughout the state. This competitive compensation benefits employees and their families, enhancing the quality of life for many individuals within the state and contributing to statewide economic growth. The payroll generated by both new car and heavy truck dealerships in 2022 amounted to $1.38 billion.
Further, new car and heavy truck dealership employees contribute more than $374 million in state and federal income tax combined.
“These numbers validate what we have always said: Louisiana’s automobile dealers bring great value to their communities,” said Kristie Hebert, LADA Chairwoman. “But we know that beyond the financial impact are the people who are training and mentoring thousands of employees at work and volunteering their time, talents and resources to so many worthy causes they support in their personal lives.”
The National Automobile Dealers Association utilized the Center for Automotive Research, S&P Global, the Tax Foundation, U.S. Bureau of Labor Statistics and U.S. Census Bureau to determine these economic impact numbers for 2022.
The Louisiana Automobile Dealers Association (LADA) is a full service-trade association representing nearly 350 new motor vehicle car and heavy truck dealers in Louisiana. Additionally, LADA has over 150 allied associate members. Founded in 1937, LADA provides products and services to enhance the operations of its member dealers. LADA serves as a united voice for its members, advocating for their interests, promoting ethical business practices, and supporting economic growth in the automotive industry.