Monthly Car Sales Downshift In August, But Pace Still Blistering
by: Andrew Schneider, September 10, 2013 12:09:00 am
Dealers across Greater Houston sold nearly 30,600 cars, trucks, and SUVs last month. That’s down 13% from July, but it’s still the best performance for the month of August since 2007.
Steve McDowell is owner of Sugar Land-based InfoNation, publisher of TexAuto Facts. He says the burst of activity this summer was largely the result of pent-up demand from the first half of the year.
“During the first half, I think we saw some response to the shock of the payroll tax increase that occurred after January 1. By the time we get into July and August, people are past that initial shock.”
McDowell says the region’s booming real estate market further depressed car sales in the spring — with many customers putting off buying cars to buy or sell homes.
Vehicle sales for the twelve months ending in August topped 333,600. That’s the highest total for any twelve-month period since August 2008.