Monthly Update: Vehicle Sales
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Houston-area dealers sold 362,688 new cars, trucks and SUVs in ’24, according to TexAuto Facts, published by InfoNation Inc. This represents a 1.7 percent increase over sales in ’23 and the highest number of vehicles sold since ’15. A record 285,900 trucks and SUVs were sold while car sales declined 2.4 percent compared to ’23.
December capped the year with 29,963 vehicles sold, a 21.1 percent increase over December ’23. Retail sales of domestic brands grew at a faster 28.6 percent rate compared to 17.6 percent for import brands. Trucks and SUVs dominated sales for domestic brands, growing by 34.2 percent while car sales for domestic brands fell by 32.2 percent.
Prices for vehicles overall and for trucks/SUVs specifically increased year-over-year in December while prices for cars declined:
• The average retail price for all new vehicles was $51,495, up from $51,060 in December ’23.
• The average retail price for a new truck/SUV was $54,086, up from $53,818 in December ‘23.
• The average retail price for a new car was $40,366, down from $41,575 in December ’23.
Prepared by Greater Houston Partnership Research
Colin Baker
Manager of Economic Research
[email protected]
