Drooping Sept. Auto Sales Blindside Houston Dealers
by: Andrew Schneider, October 18, 2011 4:10:32 am
Vehicle sales for the Houston metro area fell 12.4 in September to just under $17,700. That’s according to TexAuto Facts Report, published by Sugar Land-based Infonation, Inc. Steve McDowell is Infonation’s owner.
“We really felt that we were postured for some stability with the return of inventory at Toyota and Honda, after a period of very short inventory following the earthquake and the tsunami in Japan. There’s been pretty good acceptance of new models over the last few months, and financing has eased considerably. We thought all of those things meant we ought to be having a pretty good last few months of the year. It just didn’t happen in September.”
McDowell says the main exceptions are in sales of trucks and SUVs, thanks in part to the recent drop in oil prices. McDowell says luxury models have been grabbing a larger share of the car market. He says that reflects how hard joblessness is hitting traditional customers for economy and midrange cars.