NAICS 423110 Quarterly Industry Report
Automobile and Other Motor Vehicle Merchant Wholesalers
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 423110Sector: Wholesale Trade (42)Updated: Q1 2026
About This Report
This Fair Market Value industry report for NAICS 423110 draws on data from the U.S. Census Bureau[5] economic profiles, Bureau of Labor Statistics[6] employment surveys, and SBA size standard publications[7]. Our research team tracks vehicle wholesale volumes, pricing trends, and distribution channel dynamics to provide valuation context for motor vehicle wholesale operations. Updated quarterly, each data point is sourced to its originating federal or institutional database.
Industry Snapshot
Key metrics for the automobile and other motor vehicle merchant wholesalers industry.
Industry Definition & Overview
Automobile and Other Motor Vehicle Merchant Wholesalers (NAICS 423110) encompasses establishments primarily engaged in the merchant wholesale distribution of new and used passenger automobiles, trucks, trailers, and other motor vehicles. These wholesalers purchase vehicles from manufacturers, fleet operators, auctions, and other sources, then resell them to dealers, exporters, fleet buyers, and other wholesale customers.
The industry operates as an intermediary layer between vehicle manufacturers and retail dealer networks, handling bulk vehicle logistics, inventory financing, and market distribution. According to the U.S. Census Bureau[5], about 4,648 businesses operated in this industry with over 132,000 employees as of the most recent economic census. Wholesale vehicle distributors manage large-scale inventory operations that require substantial working capital and floor plan financing arrangements.
The industry includes regional and national distributors of passenger cars, light trucks, heavy-duty trucks, recreational vehicles, utility trailers, and specialty vehicles. Auction companies that take title to vehicles before resale also fall within this classification. Vehicle wholesale pricing tracks closely with new vehicle production volumes, used vehicle supply conditions, and consumer financing availability. Geographic distribution follows population centers and dealer network density across the country. Electric vehicle wholesale volumes have grown as manufacturers expand EV production, adding battery-electric trucks and passenger vehicles to wholesale inventories alongside traditional internal combustion models.
What's Included in This Industry
- New passenger automobile wholesale distribution
- Used motor vehicle wholesale operations
- Truck and commercial vehicle wholesale distribution
- Recreational vehicle (RV) wholesale distribution
- Utility and cargo trailer wholesale operations
- Motor home wholesale distribution
- Fleet vehicle wholesale and redistribution
- Vehicle auction and remarketing operations
- Specialty and emergency vehicle wholesale distribution
- Bus and transit vehicle wholesale operations
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Wholesale Trade | 42 |
| Subsector | Merchant Wholesalers, Durable Goods | 423 |
| Industry Group | Motor Vehicle and Motor Vehicle Parts and Supplies Merchant Wholesalers | 4231 |
| NAICS Industry | Automobile and Other Motor Vehicle Merchant Wholesalers | 42311 |
| National Industry | Automobile and Other Motor Vehicle Merchant Wholesalers | 423110 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 423120 | Motor Vehicle Supplies and New Parts Merchant Wholesalers | Motor vehicle supplies and new parts merchant wholesalers distribute automotive components rather than complete vehicles through separate distribution channels |
| 423130 | Tire and Tube Merchant Wholesalers | Tire and tube merchant wholesalers distribute a specific vehicle component category that complements but operates separately from whole-vehicle wholesale distribution |
| 423140 | Motor Vehicle Parts (Used) Merchant Wholesalers | Motor vehicle parts (used) merchant wholesalers handle salvaged and recycled vehicle components rather than complete vehicles for resale |
| 441110 | New Car Dealers | New car dealers purchase vehicles from wholesale distributors and manufacturer allocation systems for retail sale to individual consumers |
| 441120 | Used Car Dealers | Used car dealers acquire vehicles from wholesale auctions and direct wholesale channels to resell at retail prices to consumers |
| 484110 | General Freight Trucking, Local | General freight trucking provides vehicle transport services that wholesale distributors use to move inventory between facilities and to buyer locations |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 11.8% | 711 |
| 2 | Texas | 8.7% | 526 |
| 3 | Florida | 7.8% | 473 |
| 4 | New York | 5.1% | 308 |
| 5 | Pennsylvania | 4.0% | 242 |
| 6 | Michigan | 3.5% | 211 |
| 7 | Georgia | 3.3% | 197 |
| 8 | Illinois | 3.2% | 196 |
| 9 | New Jersey | 3.0% | 184 |
| 10 | Ohio | 2.9% | 174 |
% Of Establishments
0%
12%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
440
Total SBA Loans
$254.5M
Total Loan Volume
$578K
Average Loan Size
13 yrs
Average Loan Term
10.47%
Average Interest Rate
2,856
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: The SBA[7] classifies Automobile and Other Motor Vehicle Merchant Wholesalers under NAICS 423110 with a size standard of 250 employees. Most wholesale vehicle distributors operate with moderate staff sizes relative to their revenue volumes, as the business model is capital-intensive rather than labor-intensive. Qualifying firms can access SBA lending programs[8] for floor plan financing, facility expansion, and working capital to support vehicle inventory acquisition and distribution. Eligible businesses can access SBA 7(a) loans[9] for working capital, equipment, and acquisition financing, while 504 loans[10] support major fixed-asset purchases including real estate and heavy machinery.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Live Oak Banking Company | 16 | $40.0M | $2.5M |
| 2 | Northeast Bank | 160 | $36.7M | $229K |
| 3 | Seacoast National Bank | 8 | $25.6M | $3.2M |
| 4 | Wilmington Savings Fund Society FSB | 8 | $22.0M | $2.8M |
| 5 | Harvest Small Business Finance, LLC | 24 | $17.8M | $740K |
Frequently Asked Questions
Common questions about this industry.
What types of businesses are classified under NAICS 423110?
NAICS 423110 covers merchant wholesalers that distribute new and used automobiles, trucks, trailers, recreational vehicles, and other motor vehicles. These include regional vehicle distributors, wholesale auto auction companies, fleet remarketing operations, and specialty vehicle wholesalers. Per the U.S. Census Bureau[5], about 4,648 businesses operated in this industry as of the most recent economic census.
How is NAICS 423110 structured within the classification system?
NAICS 423110 belongs to Industry Group 4231 (Motor Vehicle and Motor Vehicle Parts and Supplies Merchant Wholesalers), Subsector 423 (Merchant Wholesalers, Durable Goods), and Sector 42 (Wholesale Trade). It shares Industry Group 4231 with codes for new parts (423120), tires (423130), and used parts (423140).
What is the SBA size standard for NAICS 423110?
The SBA[7] sets the size standard at 250 employees for this industry. Businesses with fewer than 250 employees qualify as small businesses for federal contracting preferences and SBA-guaranteed financing programs.
Which NAICS codes are most closely related to 423110?
Sibling codes 423120 (new parts), 423130 (tires), and 423140 (used parts) cover component distribution rather than whole vehicles. New car dealers (441110) and used car dealers (441120) are the primary retail customers. Per Census Bureau NAICS classifications[11], the wholesale-retail distinction separates 423110 from dealer codes in Sector 44.
What industries interact most with motor vehicle merchant wholesalers?
Vehicle manufacturers (336110, 336120) supply new inventory. New and used car dealers (441110, 441120) purchase vehicles for retail sale. Specialized freight trucking (484220) provides vehicle transport. Floor plan lenders supply inventory financing. Auction platforms connect wholesale buyers and sellers across geographic markets.
What specific activities are included in NAICS 423110?
Activities include purchasing vehicles in bulk from manufacturers and fleet operators, managing wholesale vehicle inventories, conducting wholesale vehicle auctions, redistributing fleet vehicles to dealer networks, exporting vehicles to international markets, and providing wholesale vehicle financing and logistics coordination. According to NAICS reference materials, the merchant wholesale function, taking title to vehicles, distinguishes this code from agent and broker arrangements.
Can motor vehicle wholesale distributors access SBA loans?
Yes. Motor vehicle wholesalers with fewer than 250 employees qualify for SBA loan programs[8] including 7(a) loans for working capital and inventory financing, 504 loans for facilities and transport equipment, and microloans for smaller operational needs. These programs help mid-size distributors compete with larger wholesale operations.
Where are motor vehicle merchant wholesalers concentrated in the United States?
Wholesale vehicle distributors concentrate near major metropolitan areas and regional vehicle auction hubs. States with large vehicle markets including Texas, California, Florida, Georgia, and Pennsylvania support significant wholesale distribution activity. Auction locations in cities like Manheim, Pennsylvania and other regional centers serve as physical marketplaces where wholesale vehicle transactions occur at high volumes.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]U.S. Census Bureau data.census.gov
- [6]Bureau of Labor Statistics bls.gov
- [7]SBA size standard publications sba.gov
- [8]SBA lending programs sba.gov
- [9]SBA 7(a) loans sba.gov
- [10]504 loans sba.gov
- [11]Census Bureau NAICS classifications census.gov
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