Philadelphia Auto Show Revs Its Economic Engine
The Philadelphia Auto Show running through Sunday at the Convention Center, braved yet another major snow event, to achieve its 113-year mission.
Unlike Detroit, New York and LA auto shows, geared to international media, unveiling improbable concept cars and highlighting paid celebrity appearances, the Philly Auto Show servicing the fourth largest US metro market, is a buyer’s show that attracts 250,000 prospects and brings some $50 million in economic benefit to the city.
According to Kevin Mazzucola, Executive Director of the Auto Dealers Association which hosts the event, everything about the 650,000 sq ft, 700 vehicle cavalcade is designed to help consumers narrow their selection to get just the right vehicle.
Exit surveys at this year’s show indicate 41% of attendees said they were planning a new car purchase in the next 12 months, up a full 11 percent since 2009.
For the economy, car sales contribute some $400 million in annual local and state sales tax revenues. The auto industry, projected in 2014 to sell 16.2 million units nationwide, up some 6 million units since 2009, represents roughly 5 percent of the US economy.
This George Polgar of GT Marketing for KYW News Radio.