Transportation is a growing market, and car dealers are increasingly making an effort to make it more accessible.
While the number of dealerships has remained relatively stable, the number and types of vehicles being sold and leased are getting more complex.
In the U.S., the market for car transport is valued at more than $12 trillion, according to the National Association of State Automobile Dealers.
According to a new study by CarTravel.com, a non-profit, the average dealership spends $2.4 million to $3.4 billion per year on vehicle transportation.
These figures represent an increase from an average of $1.6 million per year in 2015, according a separate study.
“This market has been growing for years,” said David Taggart, chief executive of CarTravel.
“This is one area where the market has seen growth.”
The study found that more than 70 percent of car transportation firms say they need to make more available to their customers, and that more customers are buying vehicles from dealerships.
It found that, between 2009 and 2020, vehicle transport businesses increased their revenue by an average 5.3 percent, compared to an average decline of 4.2 percent for the same period in the prior five years.
Among those companies that saw a significant increase in sales were GM, Ford, Volkswagen, Daimler, Hyundai, Toyota and Honda.
A total of 2,721 dealerships were surveyed, and more than 10,000 dealerships participated in the survey.
More information on the study can be found here.
This article has been updated to reflect the study’s findings.