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Houston-area dealers sold 246,456 cars, trucks, and SUVs through the first eight months of ’23, a 17.3 percent increase over the 210,121 sold during the comparable period in ‘22, according to TexAuto Facts, published by InfoNation, Inc. Sales have surpassed pre-COVID levels but remain short of the Fracking Boom peak.
Cars accounted for 22.8 percent of all vehicles sold in August, down from 22.5 percent in July. Trucks/SUVs share of the market slipped from 77.5 to 77.2 percent of the market.
Over the 12 months ending in August ’23, dealers sold a total of 347,242 vehicles. The 12-month record was set in October ’15, when dealers sold 377,705 vehicles. The 12-month nadir was January ’21 when dealers sold only 236,669 vehicles.
The ongoing United Auto Workers strike has brought up questions about the vehicle market, but the impact on consumers has yet to be documented. The strike originally targeted three auto plants, General Motors, Stellantis, and Ford, and expanded on September 22 to include workers at 38 GM and Stellantis distribution centers. The existing strike at Ford’s plant in Wayne, Michigan continues, but it was not expanded due to progress in talks between the parties. While there is potential for supply disruptions at these locations, it is unclear how this will affect dealers’ inventories across the country (NPR.org).
Prepared by Greater Houston Partnership Research
Patrick Jankowski, CERP
Chief Economist
Senior Vice President, Research
pjankowski@houston.org
Clara Richardson
Research Associate
crichardson@houston.org
Average sales price for all vehicle types in Houston in August
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