Auto Sales Dip In Second Quarter As Buyers Focus On Housing
by: Andrew Schneider, July 16, 2013 1:07:00 pm
Houston-area auto dealers sold just over 167,000 vehicles from January through June — 1,000 less than in the first half of last year. Sales activity dipped in the second quarter after a strong first quarter.
“The good news about that is that we really have stabilized.”
Steve McDowell is president of InfoNation of Sugar Land and publisher of TexAuto Facts. He says that while local auto sales enjoyed powerful growth over the past year, the volume of sales swung wildly.
“I do think that the second quarter may have been affected by the very, very hot housing market we had in Houston, because when people are focusing on those housing opportunities, they’re not also getting themselves involved in, in buying a new vehicle, and I think that’s going to turn around in the third and fourth quarter, and I expect us to see us rebound to some extent.”
For the twelve months ending in June, the Houston region sold more than 324,000 vehicles. That’s an increase of nearly 9% from the twelve months ending in June of last year.