In the first quarter of 2018 new car sales grew by 12.6 percent over the last year as high consumer confidence and low unemployment favored Houston dealerships. Local car dealers sold 22.278 new cars in March, which is more by 6.4 percent over the last year.
However, the average price for a new vehicle fell for the second month in a row to $37,217, which is less by $554 or 1.5 percent. Prices fell in all car categories, cars, trucks, and SUVs. Average prices fell because the market share for trucks and SUVs has fallen. Since SUVs and trucks cost more than sedans, a loss in market share translates to lower average prices.
Nonetheless, pickups and SUVs are pretty popular, outselling sedans by a margin of two to one. Sales of SUVs and trucks in March were up 12 percent while car sales were down 11 percent. Four best selling vehicles sold in 2017 were SUVs or trucks.
