Average dealership pretax profit down nearly 20% through Q3

Pretax profits for the average dealership slipped by nearly a fifth and gross profit per new vehicle sold tumbled 26 percent through the first nine months of 2023 compared with the same time last year, according to an inaugural report by the Presidio Group, an investment banking and buy-sell advisory firm in Denver and Atlanta, and NCM Associates, a dealership training and consulting company.