California's 1,303 franchised dealerships lost an average of $700,000 in gross profit, as EV brands' direct sales took a toll car auto cars
came up with the final figure of $910 million after crunching data from J.D. Power, S&P Global, and Kelley Blue Book. Franchised dealerships in California made an average gross profit of $4,700 per vehicle in 2022.
In total, Tesla, Rivian, and Lucid made up 193,707 vehicle registrations in the state that same year.California is home to 1,303 franchised dealerships which means that on average, each one lost out on around $700,000 of gross profit. It’s worth noting that California led the nation in EV registrations with about 36 percent of the market. So dealers in other states likely lost out too but not as much.
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