Tools commonly used in the Motor Vehicle Dealers-Used (Retail) industry for day-to-day tasks and operations.

• Diagnostic tools
• Tire pressure gauges
• Battery testers
• Brake bleeders
• Engine hoists
• Transmission jacks
• Paint sprayers
• Welding equipment
• Air compressors
• Hand tools (e.g. wrenches, sockets, pliers)

Common products and services typical of NAICS Code 441120-03, illustrating the main business activities and contributions to the market.

• Used car dealerships
• Pre-owned vehicle dealerships
• Certified pre-owned dealerships
• Car superstores
• Car supermarkets
• Used truck dealerships
• Used SUV dealerships
• Used luxury car dealerships
• Used sports car dealerships
• Used electric car dealerships

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• Dealer License: A dealer license is required to sell vehicles in the US. It is issued by the state's Department of Motor Vehicles (DMV) or Motor Vehicle Administration (MVA). The requirements for obtaining a dealer license vary by state, but generally, applicants must provide proof of insurance, a business location, and a surety bond.
• Salesperson License: A salesperson license is required for individuals who sell vehicles at a dealership. The requirements for obtaining a salesperson license vary by state, but generally, applicants must complete a pre-licensing course, pass an exam, and submit an application.
• Federal Trade Commission Used Car Rule: The Federal Trade Commission (FTC) Used Car Rule requires dealers to display a Buyer's Guide on used vehicles for sale. The Buyer's Guide provides important information about the vehicle, including whether it comes with a warranty and what percentage of repair costs the dealer will pay under the warranty.
• Environmental Protection Agency (EPA) Regulations: The EPA regulates the disposal of hazardous waste, including used oil, antifreeze, and batteries, generated by dealerships. Dealerships must comply with EPA regulations to avoid fines and penalties.
• National Automobile Dealers Association (NADA) Dealer Academy: The NADA Dealer Academy provides training and education for individuals who want to become successful dealers. The program covers topics such as dealership operations, sales, and finance.

A concise historical narrative of NAICS Code 441120-03 covering global milestones and recent developments within the United States.

• The Motor Vehicle Dealers-Used (Retail) industry has a long history dating back to the early 1900s when the first used car dealership was established in the United States. The industry has since grown and evolved, with notable advancements such as the introduction of certified pre-owned programs in the 1990s, which provided consumers with more reliable and higher-quality used vehicles. In recent years, the industry has also seen the rise of online marketplaces for used cars, such as Carvana and Vroom, which have disrupted traditional dealership models and provided consumers with more convenient and streamlined purchasing options. In the United States, the Motor Vehicle Dealers-Used (Retail) industry has experienced significant growth in recent years, with revenue increasing from $77.4 billion in 2015 to $89.4 billion in 2020. This growth can be attributed to several factors, including the increasing popularity of certified pre-owned programs, the rise of online marketplaces, and the growing demand for affordable and reliable transportation options. Despite challenges such as the COVID-19 pandemic and supply chain disruptions, the industry is expected to continue growing in the coming years, driven by factors such as the increasing availability of high-quality used vehicles and the growing demand for electric and hybrid vehicles.

The anticipated future trajectory of the NAICS 441120-03 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Growing

  The future outlook for the Motor Vehicle Dealers-Used (Retail) industry in the USA is positive. The industry is expected to grow due to the increasing demand for used cars, which is driven by the rising prices of new cars. The COVID-19 pandemic has also contributed to the growth of the industry as people are looking for more affordable options. The industry is also expected to benefit from the increasing availability of online platforms that make it easier for consumers to buy and sell used cars. However, the industry is also facing challenges such as the increasing competition from private sellers and the growing popularity of ride-sharing services. Overall, the industry is expected to continue to grow in the coming years, but it will also need to adapt to changing consumer preferences and technological advancements.

Recent groundbreaking advancements and milestones in the Motor Vehicle Dealers-Used (Retail) industry, reflecting notable innovations that have reshaped its landscape.

• Virtual Test Drives: Some dealerships are now offering virtual test drives, which allow customers to experience the car without leaving their homes. This innovation has become more popular during the COVID-19 pandemic.
• Online Car Buying: Many dealerships now offer online car buying options, which allow customers to complete the entire car buying process online, from selecting a car to financing and delivery.
• Mobile Apps: Some dealerships have developed mobile apps that allow customers to browse inventory, schedule service appointments, and even make payments.
• Personalized Shopping Experiences: Some dealerships are now offering personalized shopping experiences, where customers can work with a salesperson to find the perfect car for their needs and budget.
• Extended Warranties: Some dealerships are now offering extended warranties that cover the car for a longer period of time than the standard warranty. This innovation provides customers with more peace of mind and can help dealerships differentiate themselves from competitors.