The US car sales are down and of course, Amarillo is not an exception. It's been revealed that local dealers sell 21% less new cars, comparing to the same month last year. New auto sales have dropped 0.2% across the nation. It includes the first three-month consecutive decline the car market has seen since the recession.
Cars tend to sell better in spring and summer than fall for myriad reasons, Amarillo National Bank senior vice president John T. McElyea said. Parents will buy new vehicles in anticipation of summer vacation road trips. When their kids return to school in the fall, McElyea said, they adjust back to the daily grind and divert their attention from extravagant purchases. September, October and November are the three worst months of the year for car sales. Low interest rates prompted buyers to make their vehicle purchases earlier in the year. Trucks, however, are selling even better in Amarillo than last year. Chevy Silverado pick-ups are up 17.3 % year-to-date, while Ford F-150s have seen an 8.3% bump, according to Amarillo National Bank data.
That’s in line with the nationwide trend, as light-duty trucks and SUVs are selling 6.9% better in 2016 than they did in 2015.Generally, higher gas prices encourage people to buy fuel-efficient vehicles. Given that gas in Amarillo has been relatively cheap during the last year, people feel comfortable buying larger vehicles, which then typically costs buyers more at the pump.
