Monthly Update: Vehicle Sales

The Partnership sends updates for the most important economic indicators each month. If you would like to opt-in to receive these updates, please click here.

Estimated Read Time: 1 minute

Houston-area dealers sold 345,573 cars, trucks, and SUVs in the 12 months ending May ’24, a 1.5 percent increase over the 340,571 sold over the comparable period in ‘23, according to TexAuto Facts, published by InfoNation, Inc. Car sales rose 1.2 percent and truck and SUV sales 1.6 percent.

Though the 12-month total is up compared to ’23, sales year-to-date have slipped.

Weaker sales have put downward pressure on prices.

• The average retail price for a new car sold in May was $41,056, down from $42,291 in April of last year. 
• The average price for a new truck/SUV was $54,639, down from $54,852 in May ’23. 
• The average retail price for all new vehicles was $51,665 in May, down from $51,866 in May ’23. 

Trucks and SUVs accounted for 78.9 percent of all new vehicles sold in May and cars for 21.1 percent.
 

Prepared by Greater Houston Partnership Research 

Patrick Jankowski, CERP
Chief Economist
Senior Vice President, Research
pjankowski@houston.org

Clara Richardson
Associate Analyst, Research
crichardson@houston.org