AUTOMOTIVE INDUSTRY NEWS
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O.C.'s auto dealers have $6.4 billion economic impact
In total, nearly 204,800 new and used cars were sold in the area last year, says the OCADA.
By OC METRO staffPublished: April 20, 2011 02:57 PM
The county's 117 auto dealerships contributed $6.4 billion to the local economy in 2010, selling more vehicles than 23 states last year, according to a new study conducted by the O.C. Automobile Dealers Association (OCADA).
The 2010 Economic Impact Report shows that local dealerships sold nearly 204,800 new and used cars last year. That amounts to almost $554 million in tax revenues; $51.5 million in tax revenue went to O.C.'s cities.
In addition, local auto dealerships are collectively the fourth largest employer in the county, with 10,530 staffers and total wages of $536 million.
"Orange County’s automobile dealers are a critical component of our local economy, contributing significantly to the county’s economic growth on many levels,” said John Sackrison, executive director of the OCADA. “Our auto dealers generate more than $50 million in tax revenues for Orange County and its cities, which helps support essential services such as our police and fire departments and our schools."
Sackrison also noted that local dealers also gave more than $4 million last year to area nonprofits.
On a city-by-city level, Costa Mesa and Irvine both boast 12 dealerships – the highest totals among local municipalities – followed by Anaheim and Huntington Beach with 11 each.
Related headlines
CSUF: O.C. is expected to add 18,000 jobs in 2011
Local mortgage defaults fall 11.7 percent in Q1
Orange County's home sales, median price drop in March over 2010
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The 2010 Economic Impact Report shows that local dealerships sold nearly 204,800 new and used cars last year. That amounts to almost $554 million in tax revenues; $51.5 million in tax revenue went to O.C.'s cities. In addition, local auto dealerships are collectively the fourth largest employer in the county, with 10,530 staffers and total wages of $536 million. "Orange County’s automobile dealers are a critical component of our local economy, contributing significantly to the county’s economic growth on many levels,” said John Sackrison, executive director of the OCADA. “Our auto dealers generate more than $50 million in tax revenues for Orange County and its cities, which helps support essential services such as our police and fire departments and our schools." Sackrison also noted that local dealers also gave more than $4 million last year to area nonprofits. On a city-by-city level, Costa Mesa and Irvine both boast 12 dealerships – the highest totals among local municipalities – followed by Anaheim and Huntington Beach with 11 each. Related headlines CSUF: O.C. is expected to add 18,000 jobs in 2011 Local mortgage defaults fall 11.7 percent in Q1 Orange County's home sales, median price drop in March over 2010 |
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