In Case They Forgot

Just in case government forgets what auto dealers do for the economy, Lou Giordano ticks off a few facts at the New York International Auto Show.

Giordano, chairman of the 625-member Greater New York Auto Dealers Assn., points out that in metro New York, dealers account for $30 billion a year in revenue, $1.5 billion in taxes, 18% of retail business and 60,000 jobs.

“I mention this because there has been a lot of talk about governments balancing their budgets,” he says. “These dealers are pillars of their community.”

The city's auto show itself has a $200 million economic impact on the area, Giordano says. The 10-day event attracts 1 million visitors, many of them interested in buying new vehicles.

“Our industry is one of the most complex, and is undergoing a dramatic restructuring,” he says. “What goes on behind the scenes at the manufacturing and distribution levels, is very different than what the public sees under the bright lights of the show floor.”