Dealership transaction volume, as tracked through the first nine months of 2023, declined approximately 11 percent compared with the same period in 2022, which produced an industry record number of 403 transactions per Automotive News reporting for the full year. Presidio estimates at least 257 transactions involving 422 dealerships occurred through September 2023. Even with the decline in deal activity so far this year, transaction volume is still well above pre-pandemic levels.
As of June 2023, there were 18,280 franchised dealerships in the U.S., according to Urban Science. Private dealers owned 94 percent of stores, while public consolidators held 6 percent. According to the National Automobile Dealers Association, 92 percent of U.S. dealers owned one to five franchised stores as of mid-2023.