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Houston new vehicle sales fell 10.1 percent this October compared to October ’18. Dealers sold 30,154 new vehicles, down nearly 3,400 vehicles from October ’18, according to TexAuto Facts, published by InfoNation, Inc. of Sugar Land. Truck/SUV sales dropped 5.8 percent and car sales fell 19.7 percent.
Sales in ’19 started strong but have slowed in recent months. Year-to-date vehicle sales continue to fall and are down 3.4 percent relative to last year. The bulk of the decline is due to lower car sales in the region and lower overall sales in Harris County (as opposed to the suburban counties).
The average monthly retail price for a new vehicle was highest in January ’19 at $39,816 and has dipped to $39,014 in October. This two percent price drop reflects lower demand since the beginning of the year despite dealerships offering lower interest rates to consumers.
Prepared by Greater Houston Partnership Research
Patrick Jankowski, CERP
Senior Vice President, Research
Houston-area auto dealers sold 30,154 new vehicles in October ’19