July Car Sales For Houston Hit Five-Year High
by: Andrew Schneider, August 15, 2012 5:08:00 am
Dealers in the ten-county Houston metro area sold more than 28,500 vehicles last month. That’s the most autos sold in the month of July since 2007. Car, truck and SUV sales last month were up 19% from July 2011.
Wyatt Wainwright is president of the Houston Auto Dealers Association. Among other factors, he credits the recovery of the Japanese supply chain from last year’s earthquake and tsunami.
“A lot of it is just the inventory bounce back of Honda and Toyota from last year. Their inventories are back to normal levels. In addition, you have the pent-up demand, with the average age of a vehicle on the road today being over ten years old — people continue to come in and move out of those models into new cars — as well as the continued great financing that’s available in the dealerships these days.”
For the twelve months ending July 31, the region sold nearly 303,000 vehicles, up 21% from the same period a year earlier. It’s the first time the Houston region has surpassed 300,000 units in twelve-month auto sales since December 2008.