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New car, truck, and SUV sales are down 0.7 percent through May of this year compared to the same period in ’21. Truck and SUV sales continue to dominate the market, accounting for one in four (77.3 percent) of all vehicles sold to date.
The lack of inventory continues to drive up auto prices. The average price paid for a vehicle sold in May was up 13.9 percent from May ’21 and 21.4 percent since May ’20.
Other points of note:
Prepared by Greater Houston Partnership Research
Patrick Jankowski, CERP
Senior Vice President, Research
Average sales price for all vehicle types in Houston in May