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Answer :
The statement "New car dealers would have more digits in its NAICS code than automobile dealers" is true. The answer is option A. True.
NAICS code is a classification system for industries, which is primarily used in the United States of America, Canada, and Mexico. The NAICS code is a six-digit number that identifies the industry sector to which a particular business belongs to. So, let's discuss two industries in detail .Automobile DealersAutomobile dealers are involved in the business of selling new and used cars and trucks. Automobile dealers purchase automobiles from manufacturers or wholesalers and then sell them to consumers for a profit. This industry is a subset of the retail trade industry. This industry comes under NAICS 4411.New Car DealersNew car dealers are those dealers who sell brand new cars directly from the manufacturers.
These car dealers have franchises with automobile manufacturers that allow them to sell new cars of a specific brand. They also sell used cars. This industry is a subset of the retail trade industry. This industry comes under NAICS 44111.So, now we need to determine whether new car dealers would have more digits in its NAICS code than automobile dealers or not. The NAICS codes of these two industries are as follows: Automobile dealers - NAICS 4411New car dealers - NAICS 44111We can observe that new car dealers have one more digit in their NAICS code than automobile dealers. Therefore, the statement "New car dealers would have more digits in its NAICS code than automobile dealers" is true. The answer is option A. True.
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